Fri September 14, 2012
Home Depot To Close 7 Stores In China
Originally published on Fri September 14, 2012 11:43 am
STEVE INSKEEP, HOST:
NPR's business news starts with a do-it-yourself downsizing.
(SOUNDBITE OF MUSIC)
INSKEEP: Home Depot, the U.S.-based home improvement big box chain, says it's going to leave some big boxes behind. It's going to close seven of its stores in China. The company says it's moving away from the do-it-yourself model in China.
A spokesman tells the Wall Street Journal the Chinese market with its massive cheap labor pool, is more of a do-it-for-me culture. The closures also come at a time of slowing economic growth in China. Transcript provided by NPR, Copyright National Public Radio.