Home Depot Reports Higher-Than-Expected Quarterly Profit

Home Depot Reports Higher-Than-Expected Quarterly Profit
(New York, NY) -- Home Depot is reporting a better-than-expected quarterly profit of just over one-billion dollars or 73-cents a share. That's due to the home improvement giant cutting costs to offset weak sales. The company was able to cut its total operating costs by four-percent during the quarter largely by centralizing its distribution centers. Home Depot's sales fell three-percent in the fourth quarter to 17-point-seven billion dollars.