The Home Depot big box China stores


Home Depot today announced it is to close its remaining seven big box stores in China in order to focus on online sales and speciality stores.

The closures will result in the loss of 850 jobs.

The homewares retailer will keep two stores in Tianjin and is currently in the process of developing relations with Chinese e-commerce websites.

"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," Home Depot chairman and CEO Frank Blake said in a statement.

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