Home Depot Closing

Home Depot said Thursday it is closing 15 “underperforming” stores and will put off the opening of 50 new stores nationwide.

None of the 15 home improvement stores set for closure is in Arizona or the Southwest. Most are in Rust Belt states such as Wisconsin, Indiana, New Jersey and Ohio, which account for nine of the stores closing.

The challenging economy and rough housing market have hit consumer confidence and retailers including the Atlanta-based chain.

Home Depot Inc. (NYSE: HD) said the closures will impact 1,300 workers, but it is looking for other positions for them within the national chain.

The retailer said it was moving forward with the 36 new stores already under development.

Home Depot has numerous stores in the Valley, including Phoenix, Scottsdale and Glendale.

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