EXPO-nentionally Bad News from Home Depot
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Four years ago, Home Depot shuttered four of its five EXPO Design Centers in Texas, leaving only the behemoth on Dallas Parkway near the Galleria. And in coming days, that one will no longer exist either, as Home Depot this morning issued a media release announcing that it's getting out of the EXPO Design Center business altogether, which will mean the elimination of some 7,000 jobs across the country. Says this morning's announcement:
The EXPO business has not performed well financially and is not expected to anytime soon. Even during the recent housing boom, it was not a strong business. It has weakened significantly as the demand for big ticket design and decor projects has declined in the current economic environment. Continuing this business would divert focus and resources from the Company's core "orange box" stores.