Home Depot to cut prices

Industrial Distribution staff -- Industrial Distribution, 9/17/2008 6:13:00 AM

The Home Depot Inc. is planning to cut prices by as much as 50 percent for up to 1,200 items, The Associated Press reported.

The Atlanta-based home improvement retail giant said it will begin rolling back prices between 5 percent and 50 percent on a wide range of products—about one out of every 25 items, according to the news service.

“We're trying to gain market share in the process," executive vice president of merchandising Craig Menear told the AP. “Absolutely, we're trying to drive sales and productivity.”

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