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Home Depot's annual report shows decline in ad spending
Home Depot's annual report, released late Thursday, looked back at the previous fiscal year and disclosed items not otherwise reported to the Securities and Exchange Commission. In general, the report showed how the Atlanta-based company struggled with a ravaged housing industry but benefited from cutting costs, better managing inventories and investing in technology. Profit in 2009 was $2.6 billion compared to $2.3 billion in 2008. Items of note from the report include: *Home Depot’s gross advertising expense declined in fiscal 2009 to $897 million, from $1 billion in fiscal 2008. *Revenue from Home Depot stores in Mexico, China and Canada declined to $7 billion in fiscal 2009, compared to $7.4 billion in fiscal 2008. *Home Depot spent $966 million on capital expenditures in fiscal 2009, down from $1.8 billion in fiscal 2008. Of the 2009 outlay, 26 percent was for merchandising and operations, 19 percent for maintenance, 19 percent for core technology, 15 percent for new stores and 21 percent for other initiatives. Home Depot will release its first quarter 2010 earnings results on May 18. http://www.ajc.com/business/home-depot-s-annual-407623.html?cxtype=rss_news_128746 |
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