# Bismarck Home Depot closing



## Shu (Oct 21, 2003)

I just got an email on this from HD

Beginning Saturday, May 3, each of the impacted stores will begin their liquidation process of selling off all on hand merchandise, including racking and fixtures. We expect the liquidation phase to last approximately 6 weeks, closing our doors in these stores to the general public by the middle of June.


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## taddy1340 (Dec 10, 2004)

Shu said:


> I just got an email on this from HD
> 
> Beginning Saturday, May 3, each of the impacted stores will begin their liquidation process of selling off all on hand merchandise, including racking and fixtures. We expect the liquidation phase to last approximately 6 weeks, closing our doors in these stores to the general public by the middle of June.


Just heard today...HD is closing 15 stores nationwide. They NEVER closed a store before due to poor business only due to storm damage or the such.

Symbol of the economy???


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## hunt4P&amp;Y (Sep 23, 2004)

Any Idea what the racking is going to sell for? Anyone in Bis if you find out PM me!


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## nodakoutdoors.com (Feb 27, 2002)

What a shocker.... :roll:

I don't think I've ever seen more than 20 vehicles or so in the parking lot. This is a relatively small city that has a Lowe's, Menards, Home Depot, and 2 SUPER WALMARTS. Not to mention all the smaller hardware stores.

Something had to give. I don't actually care for the layout of Home Depot. I had a hard time finding things.


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## Springer (Dec 21, 2004)

Home Depot to close Bismarck store, one Minnesota store, cites poor performance
By Harry R. Weber, Associated Press
Published Thursday, May 01, 2008

ATLANTA - The Home Depot is closing 15 of its namesake stores, including one in North Dakota, affecting a total of 1,300 employees. It is the first time the home improvement retailer has ever closed a flagship store for performance reasons.

The Atlanta-based company said Thursday that the underperforming U.S. stores being closed represent less than 1 percent of its existing stores. They will be shuttered within the next two months.

The stores to be closed consist of three in Wisconsin, two in Ohio, two in New Jersey, two in Indiana and one each in Kentucky, Louisiana, Minnesota, North Dakota, New York and Vermont. The North Dakota store to be closed is in Bismarck.

A company spokesman said some of the employees will be relocated, while others could lose their jobs.

Spokesman Ron DeFeo said Home Depot has only closed one of its flagship stores previously because of structural damage.

The company reiterated its intention to open 55 new stores in the 2009 fiscal year.

Due to the store closings, Home Depot will record a charge of roughly $186 million, including inventory markdowns of $11 million and severance of $8 million. It also will record a charge of roughly $400 million related to development costs and ongoing obligations associated with the future store locations that it is scrapping.

New store capital spending will be reduced by $1 billion over the next three years, Home Depot said.

Excluding charges, the company reiterated that its diluted earnings per share from continuing operations are expected to decline by 19 percent to 24 for fiscal 2008. Home Depot releases its first-quarter results May 20.

Its shares rose 83 cents, or 2.9 percent, to $29.63 in morning trading.

Home Depot is the world's largest home improvement store chain. It operates 2,258 stores in the United States, Canada, Mexico and China.


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## sierra03 (Jan 27, 2005)

I kind of saw this coming. They were located right across from menards, and Menards has a pretty strong reputation in this area. I am kind of surprised both Wal-Mart stores are still up and operating.


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## 4CurlRedleg (Aug 31, 2003)

Home Depot closing, when did they open. 8)


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## Matt Jones (Mar 6, 2002)

taddy1340 said:


> Symbol of the economy???


I'd say so. Look at how bad the housing market is nationally? Building is way down.

You'd think in ND where the housing market hasn't been hit, they'd be able to survive.

I'd rather go to Menards anyday over Home Depot. Their customer service sucks.


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## Turner (Oct 7, 2005)

Home Depot did not help themselves when they fired their CEO a while ago and then gave him a 2 Billion dollar severance package for not performing. The shar holders are who took the initial hit on that severance package, but how do you think Home Depot will try and recoup that loss?I just do not get it when these CEO's are able to collect on their contracts when they preforme poorly.


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## bulkdriverlp (Apr 21, 2008)

thats too bad. i dont want to see any of them close, they sponsor my sprint cup driver. the economy is so bad, new construction is down and that is what half of a homedepot is. i think its just a product of the big chain cycle thing, where old ones go and new comes along. like menards for example.


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## DeltaBoy (Mar 4, 2004)

Has anyone heard any rumors of what might take over the building?

You would think Sportsman's Warehouse or another larger chain would consider the option...


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## averyghg (Oct 16, 2006)

DeltaBoy said:


> Has anyone heard any rumors of what might take over the building?
> 
> You would think Sportsman's Warehouse or another larger chain would consider the option...


A sportsmans warehouse in this town would be the smartest thing anyone could open. I don't think people realize how much money they would make by opening one here.

Words can't explain how bad we need one!!!!!


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