Companies screw up during good economies too. HD faces stiff competition, between the nearly identical Lowes that came up quicker and leaner with less overhead from mistakes and Ace and local hardware stores with real customer service HD is in a tough spot. Everybody they compete with is better at doing what they do, meanwhile HD sponsors almost every home improvement show on TV which has to cost a ton of money.
Lowe’s is actually 60+ years old—HD is less than 30. HD DID invent the big box format which Lowe’s has done very well with. Lowe’s is far from leaner—they owe substantially more debt than HD does.
I’m not sure that closing less than one percent of under-performing stores is earth shattering news at all. Actually I’m surprised their not closing more. Not enough help at our local HD (Lowe’s either, for that matter), and very few folks who know that they’re talking about.