The Real Deal Miami

Home stores feel pressure from housing crisis 

August 19, 2008 10:25AM

Home improvement stores Home Depot and Lowe’s are facing declines in sales and profits because of the housing crisis. Home Depot reported a 24 percent decline in net income in the second quarter. Lowe’s saw an 8 percent drop in second quarter profits, with sales steeply falling in Florida, California and the Gulf Coast. [WSJ] and [NYPost]