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Execs with Home Depot (HD) presenting at the Goldman Sachs Global Retail Conference note that...

Execs with Home Depot (HD) presenting at the Goldman Sachs Global Retail Conference note that revenue correlates more closely to GDP in the U.S. than the ups and downs of the housing cycle. Looking to the future, they note that 75% of its business (think drywall) can't be sold online - but that it's exploring new channels for items (think power tools) that can be shipped. In response to a query on the use of capital, management says the firm will spend more money to build stores in Mexico than the U.S. or Canada. (webcast)
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