No More Big-Box Home Depot Stores in China

Looks like China's economic slowdown has claimed another victim. Atlanta-based Home Depot said it will close its remaining seven big-box stores in the People's Republic. Home Depot Chairman and CEO Frank Blake put on a brave face for what could be seen as a failure of the world's largest home improvement retailer's efforts in the largest market in the world: "We've learned a great deal over the last six years in China, and our new approach leverages that experience and reflects our continuing interest in providing value to Chinese customers, as well as our shareholders."