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Thursday, May 01, 2008
Home Depot To Lower New-store Growth, Shut Stores
Andria Cheng
MarketWatch Pulse
NEW YORK - Home Depot Inc. , the world's largest home-improvement retailer, said Thursday it'll reduce its new store capital spending by about $1 billion over the next three years to focus on its existing stores as it has been hurt by the slowdown in the home market. The retailer said it'll no longer pursue the opening of about 50 U.S. stores that have been in its new store pipeline, in some cases for more than 10 years. It will take a charge of about $400 million. Home Depot also will shut 15 underperforming U.S. stores and take another charge of $186 million. The closings will affect 1,300 staff, Home Depot said.
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Cost basis is the cost at which you entered a position or purchased an asset. It is the total price you paid for, say, your house, a stock, mutual fund, etc...--and by total we mean including all commissions, accrued interests and other expenses. Cost basis is used to determine tax liabilities.
For example, if you bought 100 shares of IBM at $111.45, and IBM is now worth $120 a share, the current value of the position is $12,000, but the cost basis is $11,145.
Do the math and you'll see this would give you a profit of $855, so, Uncle Sam's piece would be based on that.
