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The Home Depot Wiki/Bio
The Home Depot, Inc., or simply Home Depot, is the world’s biggest home improvement shop, selling tools, building materials, and services. The corporation is based in incorporated Cobb County, Georgia, with a postal address in Atlanta. It has a large number of big-box shops throughout the United States (including the District of Columbia, Guam, Puerto Rico, and the US Virgin Islands), Canada’s ten provinces, and Mexico’s 31 states and Mexico City. The Home Depot also owns MRO firm Interline Brands (formerly The Home Depot Pro), which has 70 distribution sites across the United States. Bernard Marcus, Arthur Blank, Ron Brill, and Pat Farrah co-founded The Home Depot in 1978. The Home Depot’s pitch was to construct home improvement superstores that were larger than any of its competitors’. Ken Langone, an investment banker, assisted Marcus and Blank in obtaining the required funds. On June 22, 1979, the first two shops in metro Atlanta (in Doraville and on Memorial Drive in Decatur, both near I-285) opened in facilities leased from J. C. Penney that were formerly Treasure Island “hypermarket” (cheap department and grocery) stores. The Home Depot went public on the NASDAQ on September 22, 1981, raising $4.093 million.
In 1981, The Home Depot expanded from Georgia to Florida, with locations in Hollywood and Fort Lauderdale. By 1984, The Home Depot had 19 locations and had grossed over $256 million in sales. On October 31, 1984, The Home Depot purchased Bowater Home Center from Bowater Inc. for $40 million in order to penetrate the Dallas market. [ The Home Depot’s rapid development in the mid-1980s resulted in financial troubles, with earnings decreasing by 42 percent and debt reaching $200 million. The stock price dropped as a result of The Home Depot’s financial issues. To address The Home Depot’s problems, the company launched just ten shops in 1986, with a public offering of 2.99 million shares at $17 a share. The Home Depot surpassed Lowe’s as the largest home improvement retailer in the United States in 1989. The Home Depot looked for new methods to reinvent its business in the 1990s. The EXPO, a successful installation programme for high-quality home renovation goods such as windows and carpets, was introduced in 1991. In 1995, the 480-page book Home Improvement 1-2-3 was released. In 1994, The Home Depot paid $150 million for a 75 percent stake in the Canadian hardware company Aikenhead’s Hardware. Aikenhead’s Hardware businesses were eventually transformed to The Home Depot locations. With 350 outlets, revenues had hit $10 billion by 1995. Employees at a suburban Detroit Home Depot in Harper Woods, Michigan, voted 115 to 42 against joining the United Food and Commercial Workers in 2004. If the union had prevailed, the Michigan shop would have been the first Home Depot to have union representation. In 2001, The Home Depot purchased Your Other Warehouse, a big plumbing wholesaler with a concentration on special order fulfilment. The Home Depot and the EXPO Design Centers were also supplied by Your Other Warehouse. The “EXPO Design Center” segment was revamped in 2001 with three divisions centred in the Northeast at South Plainfield, New Jersey, and the West in Orange, California. With the acquisition of the home improvement business Del Norte in 2002, Home Depot entered the Mexican market. Furthermore, The Home Depot has started building stores in Mexicali and Tijuana. In the same year, Home Depot Landscape Supply was established to bring together expert landscapers and high-end plants in a retail plant nursery. With only a few stores in metro Atlanta and Dallas/Fort Worth, Home Depot Landscape Supply survived barely five years. In late 2007, Home Depot decided to shut all of its Landscape Supply shops.
The Home Depot and Robert Nardelli mutually agreed on Nardelli’s departure as CEO following a six-year term on January 2, 2007. Nardelli resigned after criticism of his tyrannical leadership and questions about whether his compensation package of $123.7 million (excluding stock option awards) over the preceding five years was exorbitant, given the stock’s dismal performance compared to Lowe’s. His $210 million severance payout was attacked since his income increased as the stock price fell. Frank Blake, his successor, had served as vice chairman of the board and executive vice president of the corporation. With the housing market slump in 2008 and 2009, The Home Depot announced the layoff of thousands of employees as well as the closure of 54 locations around the country, including the entire EXPO Design Center network. After the layoffs, EXPO associates were permitted to reapply for positions at Home Depot and did not lose any tenure if hired back. Due to the sale of HD Supply and dwindling income at the retained firm, sales in February 2009 totaled $71.288 billion, down more than $20 billion from the high two years earlier. They closed their big-box stores in China in 2012, but opened smaller boutiques that specialised in personalised items and concentrated on customer service. In August 2014, it was reported that Frank Blake, the company’s CEO, will step down and be replaced by Craig Menear, 57. On November 1, 2014, the modification took effect. Blake would stay on as chairman of the corporation. Menear joined The Home Depot in 1997 and held numerous managerial and vice-presidential roles until 2003, including merchandising vice president of hardware, merchandising vice president of the Southwest Division, and Southwest Division divisional merchandise manager. From August 2003 until April 2007, he was the company’s senior vice president of merchandising.
For $1.6 billion, Home Depot purchased Interline Brands from P2 Capital Partners, Goldman Sachs’ private equity arm, and Interline Brands’ management on July 22, 2015. In August 2016, Interline Brands and The Home Depot completed their integration, with the Interline Brands website combining with The Home Depot website. Interline Brands’ subsidiaries have been acquired by The Home Depot. Hanover Direct sold The Company Store’s online business to Home Depot in 2017. The Company Store, which has five physical locations and operates mostly through catalogue and online sales, was founded in 1911. The sale did not include the five physical sites. The corporation recorded revenue of $38.1 billion in the second quarter of 2020, up 23.4 percent from the same time the prior year. The net profit for the three-month period (ending August 2) increased by 27% to $4.3 billion. The increase in sales was caused by Americans remaining at home because to the COVID-19 epidemic. Home Depot announced $33.5 billion in revenue for the third quarter of 2020, which ended November 1, a 24 percent increase year over year.
|The Home Depot Contact Address, Phone Number, Email ID, Website|
|Phone Number||Not Known|
|House address (residence address)||Atlanta, Georgia, United States|
The Home Depot Contact Details
The Home Depot Contact Details: NA
The Home Depot Address: Atlanta, Georgia, United States
The Home Depot Phone Number: NA
The Home Depot Whatsapp Number: NA
The Home Depot Office Email ID: NA
The Home Depot Social Profiles
The Home Depot Facebook Fan Page: https://www.facebook.com/homedepot/
The Home Depot Twitter Handle: https://twitter.com/HomeDepot?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
The Home Depot Instagram Profile: https://www.instagram.com/homedepot/?hl=en
The Home Depot Snapchat Profile: NA
The Home Depot YouTube Channel: https://www.youtube.com/user/homedepot