30 Amazing Things You didn't know about Home Depot
Home Depot is the first name that comes to our mind, when it comes to home improvement. The American company is the largest seller of home improvement items that includes hardware tools, construction products and a lot more. Headquartered in Atlanta, it is the largest retailer in the United States.
If you are a regular at the Home Depot and wish to know more about your favorite store, here we present some fab things about the company that you probably did not know.
Read on about 30 amazing things that you didn’t know about Home Depot:
1. Home Depot opened its first 2 stores in 1979. The spaces were leased from J. C. Penney, which were basically hypermarket stores.
2. On September 22, 1981,
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Home Depot became a part of the New York Stock Exchange by April 19, 1984.
5. By 1984, the store had already opened 19 stores and its sales were higher than $256 million.
6. The same year, on Oct. 31, Home Depot acquired Bowater Home Center, to mark its entry into the Dallas market.
7. The growth rate of The Home Depot is amazingly high. And, it not only surpasses the growth rate of Target and Best-Buy, but also that of Walmart.
8. In the year 2000, Robert Nardelli, the former CEO of General Electric was appointed as the CEO and the President of The Home Depot.
9. The Home Depot has been a sponsor of the Canadian and the United States Olympics teams, till the year 2005.
10. The employees of The Home Depot are great athletes or sports person as the store’s employees are the holder of the highest number of Olympic medals, in comparison to other companies.
11. In the year, 2013, The Home Depot added only one store in the United States, while its rival, Lowe’s added a store in 300 locations. But, inspite of this fact, the revenue growth of The Home Depot surpassed that of Lowe’s over the past 5
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With the 30 days price protection that The Home Depot offers, you can opt to get a discount on a product that went on sale after you made the purchase. If the gap is within 30 days and if you have the receipt, you can avail the discount too.
20. Some The Home Depot stores accept coupons of its competitors. You can surely ask if the store near you accepts it to avail the discount.
21. The online site of The Home Depot, attracts more than 120 million visitors each year.
22. In the year 2011, The Home Depot entered the e-commerce industry and it accounts for 6 percent of its sales, unlike that of its rivals, which is 4 percent, making store a leader in the e-commerce segment.
23. The Home Depot management prefers to reap the benefits of low interest rate and it carried over a debt of $20 billion.
24. The boom of the home improvement industry during the 1990s fueled the growth of The Home Depot.
25. The Home Depot had acquired Aikenhead's Hardware, a Canada based, hardware chain, in the year 1994. The store acquired 75 percent of the share for 150 million. Later, all the Aikenhead's stores were converted to The Home Depot stores.
26. Rather than buying the costly equipments, which you will probably need for only one project, you can rent them for a couple of days. Check online about its availability and also the rent
Established as the older company of the two, Lowe’s ranks forty-second as a Fortune 500 company. Established in 1946 as a small hardware business, Lowe’s has grown into a 40,000 product, global market enterprise that consist of 1,710 stores nationwide expanding into the countries of Canada, Mexico and Australia (Lowe's Internal, 2010) Home Depot, founded in 1978, is the fastest growing retailer in the United States. Ranked twenty-ninth as a Fortune 500 company, Home Depot continues to remain the number one do-it-yourself retail store in America. These two companies may sell products of the same nature, but comparing their Code of Ethics is their way of setting themselves apart. (Home Depot Internal, 2009)
Home Depot is the brainchild of Bernard Marcus and Arthur Blank and came about after both men lost their job in the home improvement industry in 1978 (Parnell, 2014). Home Depot has acquired several smaller home improvement stores in both the U.S. and abroad through the years which enabled it to position itself as the world’s largest home improvement chain (Parnell, 2014). Home Depot focuses on the do-it-yourself segment of the market and sells sells tools, construction products and services. Marketing is a strong point for the company. They are able to maintain a competitive advantage by keeping themselves available to their customers at all times. Home Depot has been using both online and offline marketing efforts. The internet has become a very useful tool for the company and part of the reason that they are leading the market in DIY stores. Home Depot currently provides DIY videos on YouTube and Vine that cover current topics that consumers are likely to be interested in. They also have social media pages on Facebook and Twitter, where they have a huge following. They provide online communities where actual employees answer consumer’s questions and provide assistance on
Opening its doors for the first time in 1946, Lowe’s is now the second largest home improvement chain in the world, operating over 1,800 stores in the United States, generating $56.2 billion in sales and $2.6 billion in net income for 2014 (Lowes Newsroom, 2015). Employing around 265,000 personal making them one of the top employers in the nation, there is no question that Lowe’s must be doing something right. According to Lowes Newsroom, “Lowe’s professional customers represent approximately 30 percent of total sales, approximately 16 million retail and professional customers are served each week. (2015, para 3) “Never Stop Improving”, is Lowe’s slogan; encouraging employees and customers to work together to maximize their in store
Their mission: ‘Customer service and community service are core commitments at Lowe's — and they have been for more than 60 years. Being a good neighbor means being committed to improving the places our employees and customers call home. We see that as an investment in our future. We've grown that investment as Lowe's has grown from a small-town hardware store in North Wilkesboro, N.C., to the second-largest home improvement retailer in the world.’
Lowe’s employs more than 260,000 people in more than 1830 stores; these employees are trained to provide exceptional customer service as well as receiving up-to-date product knowledge to assist customers with their improvement needs. In addition, Lowe’s has upgraded store information technology infrastructure to assist employees in accessing product data faster and easier. This is accomplished by providing the sales team with computers that have Internet access, and Ipad’s and Iphone’s loaded with specialized apps (Lowes, 2014).
After researching Home Depots financials I would invest money in Home Depot by purchasing stock. In my research there was a lot of talk about how popular home improvement is and how many people prefer the do-it-yourself aspect. While I am sure Home Depots numbers have been better, before the recession, I do not for see Home Depot going under anytime soon. I think it is a stable company that will be in business for many years to come.
Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank in Atlanta, Georgia. With their store, Marcus and Blank revolutionized the do-it-yourself home improvement market in the United States. Home Depot began as a very basic store, operated in a large, no-frills warehouse. Home Depot carries over 35,000 products, with national brand names along with the Home Depot brand. At the start, Home Depot was able to offer exceptional customer service with knowledgeable employees who could guide customers through home renovation projects. Since its opening, Home Depot has experienced incredible growth, and today is North America's second largest retailer, and the largest home improvement retailer. Internationally, Home Depot has expanded into Canada, Mexico, and is beginning to operate stores in China. Home Depot's competition includes Sears, Ace Hardware and Lowes (the main competitor).
Lowe’s Companies, Inc. stared out as North Wilkesboro Hardware in Wilkesboro, North Carolina. North Wilkesboro Hardware was officially changed to Lowe’s Hardware when James Lowe’s portion of North Wilkesboro Hardware was bought out by his brother-in-law, H.C. Buchan fifty-five years ago. Today, Lowe’s is the second largest home improv...
Bed Bath and Beyond is currently the largest superstore domestics retailer, although their market share is only 4%. Competitors like Target, Wal-Mart and JC Penney offer a wider variety of merchandise such as apparel and electronics. Since 2002 growth has been a result of acquiring the Christmas Tree Shops and the Harmon Stores. In addition BBBY believes that their product offerings, customer service and advertising program have contributed to the company's financial success.
Second, the rapid development of the Home centers such as The Home Depot, with prices 30% less than the traditional hardware store made Black & Decker to lose market share to Makita. As per Exhibit 2 we could notice that in the home center channel that represent 25%of the trades...
Home Depot, well-known by its big, bright orange box logo, is a retailor of numerous popular brands of construction and home improvement products. Reach the Top® manufactures a popular brand of ladders and scaffolding already sold by Home Depot, and...
(Reingold, 2014) Nardelli had a hard edge and was driven by the numbers, whereas Blake preferred a management style of a service culture. He wanted engaged employees who excited customers with their knowledge of the latest tools and products available for purchase. He wanted to dominate the professional contracting business. He realized that employee morale is an important factor in the retail business. “He slowed store growth to focus on quality over quantity.”(Reingold, 2014) He spent money to train associates. He was determined to build a sense of pride among the associates. He felt that the training would provide for better customer service.5 Blake believed that customer service was the key to Home Depots ability to succeed. (Aluise,
Conclusion: Given the current economic status the home improvement industry is in a low spot with sales. With the decrease in building new homes we have to focus mainly on home improvements. The three strong points we have against existing rivalries are our great locations, quantity of quality products, and convenient customer service. With these great qualities we can move ahead and stay ahead of our competitors during these times.
Home Depot reached the number one spot in home improvement centers the world over in 2001 (Bianchi, 2006, section 1, para1). In 2002 their net sales reached $58.2 billion (Bianchi, 2006, section 2, para1). There were more than 1500 Home Depot stores within the United States, Canada, and Mexico at the end of 2003. In 1994 Canada became the first foreign country in which Home Depot expanded...
How does this company utilize each of this? In total Home Depot has 2,247 stores and each state can range from having 33 stores to 232. So they make pretty good use of the property and the land that they own so they can establish their store where it is needed the most. Now for their labor Home Depot has employed around 408,000 employees each getting paid around $9.49 hourly to $41k per year depending on your position in the company. Now for another aspect of FOP is human capital.