by Calculated Risk on 8/19/2008 08:18:00 AM

From Home Depot: The Home Depot Announces Second Quarter Results

Sales for the second quarter totaled $21.0 billion, a 5.4 percent decrease from the second quarter of fiscal 2007, reflecting negative comparable store sales of 7.9 percent, offset in part by sales from new stores.
...
"We continue to see pressure on our market and the consumer, generally," said Frank Blake, chairman & CEO. ...

Given the continued softness in the housing and home improvement markets as well as the commitment to invest in its key retail priorities, the Company believes fiscal 2008 sales will decline by approximately five percent ... This is consistent with its previous guidance.

And the beat goes on ...