Home appliances, tools, hardware, builders hardware, lumber, building materials, lighting, electrical supplies, paint, plumbing, flooring, furniture, home decor, bedding, curtains, gard supplies and plants
The Home Depot, Inc., oft simply referred to as Home Depot, is an American multinational home improvemt retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rtals. Home Depot is the largest home improvemt retailer in the United States.
In 2021, the company had 490, 600 employees and more than $151 billion in revue. The company is headquartered in incorporated Cobb County, Georgia, with an Atlanta mailing address.
It operates many big-box format stores across the United States (including the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands); all 10 provinces of Canada; and all 32 Mexican states and Mexico City. MRO company Interline Brands (now The Home Depot Pro) is also owned by The Home Depot, with 70 distribution cters across the United States.
The Home Depot's proposition was to build home-improvemt superstores, larger than any of their competitors' facilities. Investmt banker K Langone helped Marcus and Blank to secure the necessary capital.
Bernie and I founded The Home Depot with a special vision – to create a company that would keep alive the values that were important to us. Values like respect among all people, excellt customer service and giving back to communities and society[10]— Arthur Blank
On June 22, 1979, the first two stores, built in spaces leased from J. C. Pney that were originally Treasure Island "hypermarket" (discount departmt and grocery) stores, oped in metro Atlanta (in Doraville and on Memorial Drive in Decatur, both near I-285).
On September 22, 1981, The Home Depot wt public on the NASDAQ, raising $4.093 million. The Home Depot joined the New York Stock Exchange on April 19, 1984.
The Home Depot began to branch out of Georgia to Florida in 1981 with stores oping in Hollywood and Fort Lauderdale. By 1984, The Home Depot was operating 19 stores with sales of over $256 million. To ter the Dallas market The Home Depot acquired Bowater Home Cter from Bowater Inc. on October 31, 1984, for $40 million.
The increased expansion of The Home Depot in the mid-1980s created financial difficulties with earnings falling by 42% and debt rising to $200 million. The financial difficulties of The Home Depot also caused the stock price to fall. To curb The Home Depot difficulties it oped only 10 stores in 1986 with a stock offering 2.99 million shares at $17 per share which helped The Home Depot to restructure its debts.
In 1989, The Home Depot became the largest home improvemt store in the United States, surpassing Lowe's. In the 1990s The Home Depot searched for ways to redefine its marketplace. An installation program for quality home improvemt items, such as windows or carpets, was launched in 1991 called the EXPO with success. A 480-page book Home Improvemt 1-2-3 was published in 1995. The Canadian hardware chain Aikhead's Hardware was acquired by The Home Depot in 1994 for $150 million with a 75% share. All of the Aikhead's Hardware stores were later converted to The Home Depot stores.
Maintance Warehouse was a leading direct-mail marketer of maintance, repair and operations supplies that could reach customers out of reach by The Home Depot.
Atlanta-based company Apex Supply was acquired by The Home Depot in 1999. Apex Supply is a wholesale distributor of plumbing, HVAC, industrial pipe and fittings.
In 2004, Home Depot employees at a suburban Detroit store in Harper Woods, Michigan, rejected a bid to be represted by a labor union, voting 115 to 42 against joining the United Food and Commercial Workers. If the union had won, the Michigan store would have be the first Home Depot to have union represtation.
Your Other Warehouse, a large plumbing distributor with a focus on special order fulfillmt, was acquired by The Home Depot in 2001. Your Other Warehouse also supplied two divisions of The Home Depot and the EXPO Design Cters.
The "EXPO Design Cter" division was reorganized in 2001 with three divisions based in the Northeast at South Plainfield, New Jersey, the West at Orange, California, and the Southeast at Atlanta, Georgia.
The Home Depot tered the Mexican market in 2002 with the acquisition of the home improvemt chain Del Norte. In addition, The Home Depot had begun construction of stores in Mexicali and Tijuana.
In the same year the Home Depot Landscape Supply was launched to integrate professional landscapers and upscale plants into a plant nursery retail chain. Home Depot Landscape Supply lasted only five years with only a few stores each in metro Atlanta and Dallas/Fort Worth. The Home Depot decided to close all Home Depot Landscape Supply stores in late 2007.
In September 2005, Home Depot Direct launched its online home-furnishings store, 10 Cresct Lane, shortly followed by the launch of "Paces Trading Company, " its online lighting store. In mid-2006, the Home Depot acquired Home Decorators Collection, which was placed as an additional brand under its Home Depot Direct division.
Five months later The Home Depot sold HD Supply to a consortium of three private equity firms, The Carlyle Group, Bain Capital and Clayton, Dubilier and Rice (with each agreeing to buy a one-third stake in the division).
On January 2, 2007, the Home Depot and Robert Nardelli mutually agreed on Nardelli's resignation as CEO after a six-year ture. Nardelli resigned amid complaints about his heavy-handed managemt and whether his pay package of $123.7 million (excluding stock option grants) over the previous five years was excessive, considering the stock's poor performance versus its competitor Lowe's. His severance package of $210 million was criticized because wh the stock wt down, his pay wt up.
His successor, Frank Blake, previously served as the company's vice chairman of the board and executive vice presidt. Blake agreed to a much more conservative compsation package than Nardelli, which is very heavily depdt upon the success of the company. Although a longtime deputy to Nardelli at GE and Home Depot, Blake was said to lack Nardelli's hard edge and instead preferred to make decisions by conssus. Indeed, Blake repudiated many of his predecessor's strategies, and it has be reported that the two m have not spok since Nardelli departed Home Depot.
In 2008 and 2009, with the downturn in the housing market, The Home Depot announced the layoff of several thousand associates, as well as the closing of 54 stores nationwide, including the tire EXPO Design Cter chain.
Associates at EXPO were allowed to re-apply for Home Depot jobs after the layoffs, and did not lose any ture if hired back. In the year of February 2009, sales totaled $71.288 billion, more than $20 billion down from the peak of two years earlier due to the sale of HD Supply and falling revue at the retained business. In 2012, they proceeded to close the big-box style stores that they had in China, however smaller stores that specialized in custom products and that focused on more intimate interactions betwe customers and associates remain op there.
In August 2014, it was announced that Frank Blake would step down as CEO and would be replaced by 57-year-old Craig Mear. The change occurred on November 1, 2014. Blake continued with the company as chairman. Mear joined The Home Depot in 1997, and served in various managemt and vice-presidtial positions, until 2003, including merchandising vice presidt of hardware, merchandising vice presidt of the Southwest Division, and divisional merchandise manager of the Southwest Division. He subsequtly served as sior vice presidt of merchandising from August 2003 to April 2007. He th served as an executive vice presidt of merchandising from April 2007 to February 2014. Until becoming CEO, Mear served as presidt of U.S. Retail from February 2014 to November 1, 2014.
One major reason for the data breach was the practice of tering credit card numbers directly into computers at the service-desk and pro-desk, and in specialty departmts including flooring, kitch cabinets, appliances, and millwork, rather than using POS credit card terminals directly. The practice was stopped, and Home Depot offered a year of free credit monitoring through AllClearID for any customers who requested it. There were also reports of credit card numbers being stol wh used to make purchases on Homedepot.com.
On July 22, 2015, Home Depot acquired Interline Brands from P2 Capital Partners, Goldman Sachs' private equity arm, and the managemt of Interline Brands for $1.6 billion.
Interline Brands became fully integrated with The Home Depot in August 2016 with the Interline Brands website merging with The Home Depot website. The subsidiaries of Interline Brands are now companies of The Home Depot.
In 2017, Home Depot acquired the online presce of The Company Store from Hanover Direct. The Company Store was founded in 1911, operating primarily as catalog and online sales, but with five physical locations. The five physical locations were not included in the deal.
In January 2022, The Home Depot announced Craig Mear would be stepping down as the CEO and presidt effective March 1, 2022, while continuing to serve as the chairman of the board. He was replaced by former executive vice presidt
Post a Comment
Post a Comment