Home Depot Posts First Ever Annual Sales Decline

The housing slump has taken its toll on Home Depot. And a loss of market share also hurt them. They posted there first ever annual sales decline and released a 2008 outlook that is more gloomy than that of its chief rival, Lowe's. The Atlanta based company, reported 4th quarter profits had declined more than 27 percent and said an earlier halt to a program to buy back up to $22.5 billion in Home Depot stock will continue until markets improve.