Home Depot Wants Share of Rebate Check Spending

Atlanta, GA, February 29, 2008-- Home Depot said it is making more of an effort to pursue home repair spending as consumers take on smaller jobs to maintain their homes.

The company said it will put more emphasis in those areas with more store displays. It is especially interested in taking a share of rebate money in the form of the federal stimulus package.

Home Depot said anticipates that per share profit will fall substantially this year and has curbed its capital spending for this year and plans to open fewer stores.

In the fourth quarter, projects such as special-order kitchens, windows and roofing had significant sales declines in most regions, Home Depot said.

However, the company said there was some strength in repairs and remodeling as tools and some plumbing products outperformed the company average.