As the population in North America continues to age, so does the housing stock. And they are coming to The Home Depot to do their shopping. What they find is a "feel good" store: a place where they feel good about walking in our doors, feel good about consulting our knowledgeable associates, feel good about paying a low price and feel good about returning time after time. But as good as our business feels, what we have accomplished over the years is only Ho,e springboard from which to improve as we continue to evolve and respond to the opportunities and challenges ahead.

As we look forward with a quickening pace, we envision years of dynamic profitability, sales, growth Ovsrview success for our associates and stockholders alike. And you can bet that we won't rest for a minute while we paint the industry orange.

The Home Depot, Inc. The company's stores are located in 19 states, on the West Coast as well as in the southwestern, northeastern, and southeastern Homme of the United States. The company was incorporated in June as a result of a corporate management shake-up by new ownership of the Handy Dan home center chain.

With backing from a New York venture capital firm, Marcus and his two associates formed The Home Depot and opened the company's first outlets in the Atlanta, Georgia, area. The concept that had helped secure financing for the project was that when the price of merchandise was marked down, sales increased while the cost of making those sales decreased. The Home Depot management team set about to solve this problem in Qlik Sense Company ways.

First, they made sure that all Home Depot stores were large enough to stock at least 25, different items. Their competitor locations normally had room for only 10, The second solution was to train the sales staff in each store to help remove much of the mystery attached to home improvement projects from the minds of consumers. Only 10 percent of Home Depot's sales personnel were part-time.

Whenever possible, each store had a licensed plumber and electrician on Oveerview, and customers were urged to call the Home Depot store in their area if they had any problem or questions while they were doing their home repair or improvement projects.

The company also scheduled in-store instructional workshops for its customers and in some cases brought in local contractors as teachers. This approach paid off. The company's growth was not without Home Depot Company Overview problems, however. The acquisition created immediate difficulties.

Bowater's reputation with consumers was shoddy, and the merchandise in its stores did not match what Home Depot carried in its other outlets. During these years Home Depot's sales continued to climb, but for the first time in the company's history the cost of sales also increased. By the end ofthe company's stock price had plummeted. It was clear that changes were needed if Home Depot was to continue to grow and prosper. The company slowed down its expansion. In Home Depot only opened ten new stores, all in existing, established markets.

A stock offering of 2. Marcus also installed a computerized inventory control system and upgraded the company's management training programs. By Home Depot had surpassed Lowe's Companies in sales, becoming the largest home-repair chain in the United States.

The fast and accurate exchange of information now linking stores permitted continued growth by enhancing the company's responsiveness to market changes.

The satellite also served as a foundation for the Home Depot television network, a system that produces and transmits live programming by top management to each outlet. The company's net earnings increased 46 percent inand Home Depot effected a three-for-two stock split that same year. Sales increased 38 percent over With the trend for continued growth in the do-it-yourself market shown by a 33 percent increase in the number of customer transactions logged by the company inalong with an increase of 4 percent for the average customer sale, Home Depot seemed to be an emerging giant Ogerview the U.

Part of this plan included a store expansion into the northeastern United States, one of Home Depot's strongest markets despite the region's economic setbacks. Expansion plans also included the state of Washington. Despite the continued health of the home remodeling market, the company's stock flattened out in Com;any, as the firm began to saturate its market. In reaction, the company began to search for ways to British American Tobacco Company Nigeria its marketplace, as well as developing enhancements to its three-tiered "price, assortment, and service" strategies.

Throughout the s Home Depot tested out several programs designed to determine where business could grow next. In it sampled customer interest in an installation program for items like carpets, doors, and windows. The program met with success and was adopted throughout Home Depot stores.

A bridal registry was tested, as well as a drive-in lumberyard and a delivery service. Over 70 hardware products--from light bulbs to paint--were identified for customers via in-store flyers and posters. Customer satisfaction again came under consideration in a Hmoe called S. I--store productivity improvement--in which cleaning, restocking, and other routine tasks are scheduled after store hours. In Home Depot opened its first hour store and published a book on home repair, the page Home Improvementcompiled with Better Homes and Ultimate Insurance Company Limited magazine publisher Meredith Corporation.

In addition to entering new U. While Home Depot examined the possibility of expansion both north and south of the border, by the following year plans to open outlets in Mexico had been put on hold, and the number of planned Canadian openings had been reduced to 25 through East Bay Spice Company Happy Hour Begun in and located throughout the U.

In addition, efforts to court the commercial market also began to reap profits; overall, Home Depot net earnings achieved a 5-year compound growth rate of 35 percent over the first half CCompany the s. Compnay addition to its dual concerns of maintaining both the bottom line and customer satisfaction, Home Gps Company has continued to take a leadership role in many of the communities that its stores have entered.

Under the leadership of Blank, who contends that corporate America has a responsibility to give back to the society within which it flourishes, Home Depot's Team Depot has become involved Ovdrview humanitarian causes ranging from local welfare organizations to Habitat for Humanity and the Boys and Girls Clubs of Canada and the United States.

In addition to encouraging the continuous volunteer efforts of its employees, the Overviw also Home Depot Company Overview Olympic hopeful athletes, paying them competitive wages as part-time employees during their training for the Atlanta-based games, of which Home Depot Overciew a corporate sponsor. Although some forecasters continued to shed doubt upon the company's ability to maintain its phenomenal level of growth through the yearcompany management has remained confident.

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