Analyst Lowers Estimates for Home Depot

New York, NY, Aug. 13, 2008--Standard & Poor's analyst Michael Souers said he was lowering his second-quarter earnings estimate for The Home Depot Inc. because of an expected slowdown in same-store sales growth.

Souers said he expects same-store sales to fall 9 percent when the Atlanta-based company reports results on Aug. 19. because of a "challenging housing market and weakness in consumer spending."

He also lowered earnings estimates for 2009 and 2010.

Souers expects Home Depot to earn $1.72 per share -- down from $1.75 -- in 2009. He put 2010 projections at $1.77 per share -- down from $1.91.