Energy Crunch Spurs Home Depot’s Sales
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Home Depot Inc. reported strong sales of energy-conservation products, from insulation materials to energy-efficient lighting, as consumers struggle with high energy prices.
Company spokesman John Simley called the revenue increase “essentially astronomical.” But he said the rise is being seen in about a dozen product categories out of the more than 1,000 at Home Depot.
Atlanta-based Home Depot said demand for energy-efficient products was especially strong in areas hit hardest by soaring energy prices, such as California and pockets of the Northeast.
Home Depot shares fell 99 cents to $45 on the Big Board.
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