Atlanta, GA. May 20--Home Depot announced earlier this week it plans to close about one-third of its Expo home decor stores, eliminating about 2,000 jobs.
The company plans to close 15 unprofitable Expo stores, which cater to affluent homeowners.
In all, 15 Expo stores will shut down by the end of this year and five others will be converted to Home Depots, but a firm timetable wasn't given.
The company also reported installations of kitchen cabinets, windows and other products grew 16 percent, while appliance sales boosted the average ticket to a record $58.25.
Home Depot officials said the company expects home installations to rise more than 10 percent annually as it caters to aging baby boomers who are less interested in do-it-yourself projects. That will help the company maintain sales growth as its stores saturate the United States, said analysts.
