ATLANTA–Home Depot Inc. reported a 66 per cent drop in first-quarter profit as the U.S. housing meltdown hurt sales and it took a charge to close stores and curb expansion plans. The world's biggest home improvement retailer said full-year, per-share profit could fall as much as 24 per cent, and its shares sank more than 5 per cent. "Home Depot achieved some good gains in gross margin and managing expenses," said Sarah Henry, a retail analyst with MFC Global Investment Management. But she...

ATLANTA– U.S. discounters, led by Wal-Mart Stores Inc, remained a bright spot in a weak retail industry in August, as shoppers sought back-to-school deals, while department stores and luxury chains disappointed. Among retailers reporting August sales Thursday, teen apparel outlets like Aeropostale Inc managed to top expectations in a flagging U.S. economy that has prompted consumers to rein in their spending and curb mall trips. Results "continue to show that there is a divide between...

Circuit City Stores Inc, the No. 2 U.S. consumer electronics retailer, filed for bankruptcy on Monday just weeks before the start of the holiday shopping season, becoming the largest retailer to file for Chapter 11 since Kmart in 2002. Circuit City fell victim to tighter credit terms from vendors, a dwindling cash position and decreased consumer spending amid a deepening economic crisis. The filing comes one week after the 59-year-old retailer said it would close 155 U.S. stores, or more than...

*Technology, cybersecurity seen gaining *Big contractors eye candidates ATLANTA, May 8 (Reuters) - As the U.S. Defense Department revamps its military capabilities to become better equipped for irregular warfare, companies that focus on information technology and preventing new security threats are poised to gain. The Obama administration this week asked Congress for $663.8 billion for the Pentagon as it shifts focus on expanding resources to better fight insurgents rather than traditional...

ATLANTA (Reuters) - Major U.S. defense contractors, braced for restrained U.S. spending and higher pension costs, are likely to forecast flat or slow growth for 2010, while commercial aerospace firms could offer more evidence that economic conditions are firming. Companies such as Lockheed Martin Corp , Raytheon Co , Goodrich Corp and L-3 Communications Holdings are expected to meet or beat consensus analysts estimates when they post quarterly earnings starting next week, but investors will...