The Home Depot (NYSE: HD) updated its square footage growth plans as part of a strategic plan to improve cash flow, provide stronger returns for the company and invest in its existing stores. While the country's largest home improvement retailer re-stated its intentions to open 55 new stores in fiscal 2008 (it opened 87 stores in 2007 for a 4.5% square footage growth), it is curtailing growth in 2009 and beyond to 1.5% growth in square footage per year.