Home Depot, Inc. is a public company which supplies construction products and services. This company is based in the United States with its headquarters at the Atlanta Store Support Center. Currently, the company has its stores and retails in the United States and Canada. Its’ largest stores are located in Anaheim Hills, California, encompassing 204,00ft2 and the other one at Vauxhall, New Jersey, which covers 217,000ft2.
The company’s color is bright orange, which is used on its equipment and the employee’s aprons. In the early 1990s, the company’s slogan was “The Home Depot, and Low prices are just beginning,” which was replaced by “The Home Depot: First in Home Improvement” from 1999 to 2003. On 5 December 2019, they announced their new slogan, “How Doers Get It More,” which replaced the past motto which was “More Saving. More Doing.”
The company has a website domain homedepot.com. According to the compete.com survey, the home depot company site had 120million visitors annually by 2008. However, the site is inaccessible via servers located outside the country. In 2006, the company opened “Home Depot Fuel” at Tennessee
Inception
The company was co-founded by Pat Farrah, Ron Brill, Arthur Blank, and Bernard Marcus in the year 1978. The main objective of the company’s creation was to build larger home improvement stores. Moreover, they focused on keeping vital customer values alive such as excellent customer services and customer respect.
However, they had capital insufficiencies that threatened to kill their dream. Luckily, Ken Langone, an investment banker, promised Marcus that he would help to finance their project. They built their first stores in 1978 on a leased land
Evolution
A few years after building their first stores, they opened a store at metro Atlanta. The company went public on 22 September 1981 on the NASDAQ. On 19, April 1984 made a bold move and joined the New York Stock Exchange.
They opened their first branch in Georgia in 1981. By the end of 1994 the Home Depot Inc. The company had made over $256 sales and opened 19 operating stores. However, things were different in the mid-1980. The company earnings fell with a margin of 42% while the increasing debts were threatening its existence.
To curb the threat, the company had only ten stores open in 1976. Also, they figured to drop the prices of the goods to help in repaying the debts and restructuring the company. As a result of their persistence amid stiff competition, it was ranked as the largest home improvement store in 1989 in the United States.
Competition is a common feature when it comes to the business world. Consequently, business people must keep on brainstorming on the next move—the Home Depot Inc. The company was affirmed with this vital virtue in its early days. As a result, they launched a program called ‘Expo with success.’ The plan was meant to help in the installation of homer improvements features such as carpets.
In 2000, Robert Nelli became the CEO and the president of the company. He started with reorganizing the Expo Design Center in 2001 with three divisions in the west of Orange, California, Atlanta, Georgia, and South Plainfield, New Jersey. In the same year, this excelling company acquired Home improvement Chail Del Norte and also managed to enter the Mexican market.
In 2005, they launched an online home furnishing store. The company later integrated Hughes’s supply, which helped to take their customer services into a whole new level. Nardelli resigned as the company’s CEO in 2007 after airing complaints about the heavy managements. Frank Blake, who served as the company’s vice chairman, became his successor. Frank stepped down as the company’s CEO in 2014 but continued to serve as the company’s chairman. They acquired interline brands in 2015 from a private equity firm
Awards and achievements
2019 was a favorable year of this home improvement company for their efforts were bountifully awarded. Some of the awards they received in that year are Best company for women, best CEO of the year, best CEOs for the diversity of the year, best CEOs for women, best marketing team, and best company outlook. According to the 2018 report, 28,670 employees in this company were satisfied, which gave them a rating of A-.
Net worth of The Home Depot in 2024
The Home Depot Inc. The company had revenue of $100,904 million and a net income of $8630 million. They have over 2284 retail stores and more than 423000 workers. They were ranked as the largest state corporations in the United States. As of 2024, the net worth of this multinational company is $250 billion.
In a nutshell, home depot company is globally known for its immense efforts in supplying home improvement goods. Besides, they have a vast number of workers, which has helped in job creation. The company was founded in 1978, and since then it has opened its branches in several locations