Home Depot Inc. said it will consider selling or spinning off its contractor and home builder division Home Depot Supply.
"We are undertaking this action today because of our desire to increase our focus on our retail business,” said Frank Blake, the company’s CEO and chairman. With its retail store sales lagging and its stock going nowhere, Home Depot has been under pressure from investors to take a fresh look at its operations. Getting rid of HD Supply, if such a move were to go forward, represents a huge step away from the non-retail business strategy of Blake’s predecessor, Robert Nardelli.