Welcome to Home Home Depot
HomeHomeDepot is a free resource for home and home depot information world wide. Home and Home Depot updates information related to various news and articles. Home Home Deopt also offers comprehensive web directory for home related category listings.
Home Depot Article
|
Home Depot appoints new chief to run China operations
HOME Depot Inc, the world's largest home-improvement retailer, has appointed a new president at its Chinese unit after Yves Chen resigned. Simon Chuen, formerly vice president for merchandising in China, was named last month to succeed Chen, said Beijing-based John Hong of public-relations firm MS&L, a spokesman for the company. He declined to comment on yesterday's China Business News report that Chen's resignation may stem from Atlanta-based Home Depot's flagging performance amid the global financial crisis. The credit crunch and property slowdown have hurt home-improvement store owners such as Home Depot, whose third-quarter profit slid 31 percent. Kingfisher Plc, owner of the B&Q chain, on November 27 said Chinese sales fell 28.5 percent in the quarter as new apartment sales were "significantly down." China Vanke Co, the nation's biggest publicly traded real-estate developer, said property sales in October fell 35 percent from a year earlier. "Both B&Q and Home Depot, or the whole sector, will have a very difficult time in the next six to 12 months," Shaun Rein, managing director of China Market Research Group, told Bloomberg News yesterday in Shanghai. While three-fifths of Chinese consumers will spend as much or more next year, real estate and cars are exceptions, he said, citing a company survey. "People think prices are going to drop," Rein said. "They are not going to buy home decoration. It's a very difficult area to be in now." B&Q, which has more than 60 outlets across China, has a stronger presence in the country than Home Depot, which entered the market in 2006 after acquiring The Home Way, a Tianjin-based home-improvement retailer with 12 stores in six cities. The number of stores remained unchanged for Home Depot. "B&Q will beat Home Depot for now, as it has built a better brand name among consumers," Rein said. http://news.alibaba.com/article/detail/apparel-news/100027350-1 -home-depot-appoints-new-chief.html |
|