High-end Concept Flops; Additional 7,000 Layoffs Expected
You used to be able to gauge the median income of a Florida city by the presence or absence of a Home Depot EXPO. Unlike the regular Home Depot where working folks and contractors go to buy drywall, Ridgid tools and spackle, the Home Depot EXPO is where people in places like Naples and Boynton Beach go to buy such consumer staples as the 66" Aquatic Serenity Studio Air Bath (available in Cashmere or Sandbar) or the 36" Gaggenau Induction Cooktop. Apparently now that no one is buying luxury condos, the demand for EXPO's high-end kitchen and bath accoutrement has vanished. Today Home Depot announced that all 34 EXPO Design Centers will be closed over the next 2 months. The company will also close their Yardbirds nurseries in California, a chain Home Depot acquired four years ago when the housing market was on fire.
You used to be able to gauge the median income of a Florida city by the presence or absence of a Home Depot EXPO. Unlike the regular Home Depot where working folks and contractors go to buy drywall, Ridgid tools and spackle, the Home Depot EXPO is where people in places like Naples and Boynton Beach go to buy such consumer staples as the 66" Aquatic Serenity Studio Air Bath (available in Cashmere or Sandbar) or the 36" Gaggenau Induction Cooktop. Apparently now that no one is buying luxury condos, the demand for EXPO's high-end kitchen and bath accoutrement has vanished. Today Home Depot announced that all 34 EXPO Design Centers will be closed over the next 2 months. The company will also close their Yardbirds nurseries in California, a chain Home Depot acquired four years ago when the housing market was on fire.
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