reportonbusiness.com: notSet

Posted AT 7:50 AM EST on 19/08/08

Home Depot profit drops 24 per cent

ANNE D'INNOCENZIO

The Associated Press

NEW YORK — The Home Depot Inc., the largest home improvement retailer in the United States, reported a 24 per cent drop in second-quarter profit but beat Wall Street expectations. The company reiterated its downbeat outlook for the year amid a weak housing and home-improvement market that shows no signs of recovery. The Atlanta-based company said Tuesday that net income was $1.2-billion (U.S.

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