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Home Depot To Close 7 Stores In China

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Home Depot To Close 7 Stores In China

Business

Home Depot To Close 7 Stores In China

Home Depot To Close 7 Stores In China

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Home Depot, the U.S.-based home improvement big box chain, said it will close seven of its stores in China. The company says they're moving away from the "do-it-yourself" model in China.

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.

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