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Home Depot To Close 15 Stores, Abandon Plans for 50 More
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Home Depot announced that it will close 15 underperforming U.S. stores, and is canceling plans to open 50 additional stores that have been in the pipeline. It will record a charge of approximately $400 million related to development costs and obligations associated with those future store.... . . MORE DETAILS
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Remodeling Activity Remains Steady In The First Quarter
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Remodeling activity remained steady during the first quarter of 2008, according to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI). The current market conditions indicator increased to 41.8 from 40.9 in the fourth quarter, while the future expectations measure showed.... . . MORE DETAILS
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D.R. Horton Loses $1.3 Billion in Second Quarter
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Homebuilder D.R. Horton, Inc. reported a net loss of $1.3 billion for its second fiscal quarter ended March 31, 2008. The quarterly results included $834.1 million in pre-tax charges to cost of sales for inventory impairments and write-offs of deposits and pre-acquisition costs related to land.... . . MORE DETAILS
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New Home Sales Fall 8.5 Percent in March
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New home sales in the U.S. continued their decline in March, falling 8.5 percent to a seasonally adjusted annual rate of of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.. . . MORE DETAILS
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