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Thursday, August 9, 2007

Home Depot shares bad news

In Georgia business news, Atlanta-based Home Depot has warned that it may get less than it expected for its wholesale distribution unit called Home Depot Supply.

A spokeswoman says ups and downs in stock prices, debt and the poor housing market have hurt the home improvement store chain.

That was not the only bad news for shareholders. Home Depot says it is lowering the amount of money it will pay to buy back a portion of its stock because of current financial market conditions.

GPB News Team: