Shifts China Strategy to Focus on Specialty Stores
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Posted On: 01/14/2013 7:00:41 AM
Shifts China Strategy to Focus on Specialty Stores, Online
ATLANTA, Sept. 13, 2012 /PRNewswire via COMTEX/ --The Home Depot® today announced it is closing its remaining seven big box stores in China as the Company shifts its focus in that market to specialty stores and online offerings.
The closings will affect approximately 850 associates, who will receive severance packages and job placement assistance.
As a result of the store closings, the Company will record an after-tax charge of approximately $160 million, or approximately $0.10 per diluted share, in the third quarter of 2012, which includes impairment of goodwill and other assets, lease terminations, severance and other charges...
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ATLANTA, Sept. 13, 2012 /PRNewswire via COMTEX/ --The Home Depot® today announced it is closing its remaining seven big box stores in China as the Company shifts its focus in that market to specialty stores and online offerings.
The closings will affect approximately 850 associates, who will receive severance packages and job placement assistance.
As a result of the store closings, the Company will record an after-tax charge of approximately $160 million, or approximately $0.10 per diluted share, in the third quarter of 2012, which includes impairment of goodwill and other assets, lease terminations, severance and other charges...
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