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CNN LIVE AT DAYBREAK
Home Depot One of "Fortune" Magazines Top 500
Aired April 2, 2002 - 06:11 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: But first, a look at one of "Fortune" magazine's top five.
(BEGIN VIDEOTAPE)
ANNOUNCER: Since the attacks of September 11, Americans have embraced the importance of home. And as a result, they're turning to companies like Home Depot. The worldwide do-it-yourself chain comes in at the top of "Fortune's" specialty retailer category for 2002 with revenues nailing a total of $53 billion and profits at $3 billion.
While the economy slumps, consumer spending in housing remains rather healthy, benefiting the company in orange. After 9/11, Home Depot stock fell to a 52-week low, but since then it's rebounded more than 50 percent.
Home Depot is now challenged to maintain not only its impressive revenue growth but also its No. 1 status over rival retailer Lowe's.
(END VIDEOTAPE)
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