Home Depot to Drop Some Wood Products

Home Depot Inc., the largest U.S. home improvement retailer, said it will stop selling products made with wood from threatened tree species by 2003. The Atlanta-based company said products made from cedar, redwood and lauan trees from certain regions will be phased out unless environmental organizations certify the wood for use. The move won’t affect prices of Home Depot’s products, as the company will absorb any added costs, Chief Executive Arthur Blank said. Home Depot’s vendors have been notified of the company’s decision and have agreed to participate, Blank said. Environmental groups had pressed Home Depot to take such action. Home Depot shares fell $2.69 to close at $63 on the NYSE.