Home Depot (HD) is running into a problem as it tries to expand internationally. Some countries don't embrace the "do it yourself" mantra the way America does.

In many countries, particularly densely populated ones, people don't have or want the huge garages and work benches filled with tools. When they want something fixed, they call a professional to have it done.

Such is life in China, and Home Depot now finds itself in the unpleasant position of closing all seven of its big-box stores there and cutting 850 jobs.

"China is a do-it-for-me market, not a do-it-yourself market, so we have to adjust," Home Depot spokeswoman Paula Drake told Reuters.

There is still a market for home-improvement stores in China, but Britain's Kingfisher has led the way there since the late 1990s, leaving little room for Home Depot, which only arrived in 2006.

Kingfisher says there is plenty of opportunity in China, particularly with new homeowners. In many cities in China, new homes are sprouting up fast and are often sold as empty concrete shells, Kingfisher says on its website. "The new owners are responsible for completing the internal fit-out and decoration themselves," Kingfisher says. "This has fueled the rapid growth of the home improvement market, particularly design, decorating and installation services."

But the Chinese economy has begun to turn down, which undoubtedly factored into Home Depot's decision to close. Chinese home appliance companies are also cutting back on expansion plans until the economy picks up.

Home Depot will keep running two specialty stores it recently opened in Tianjin, Reuters reports, and will look to partner with online shopping sites to increase sales.

More from Top Stocks

• Are stocks headed to all-time highs?
• Bank of America: Never-ending QE winner
• Southwest again takes lead in hiking fares