User:Orcasgirl/Home Depot

From Wikipedia, the free encyclopedia

The Home Depot, Inc.
Type	Public (NYSE: HD)
Founded	1978 (Atlanta, Georgia, USA)
Headquarters	Vinings, Georgia, USA
Key people	Frank Blake, CEO & Chairman
Industry	Retail (Home Improvement)
Products	Home improvement products such as appliances, tools, hardware, and garden supplies & plants.
Revenue	▲$90.837 billion USD (2006)
Net income	▲$5.761 billion USD (2006)
Employees	355,000
Website	www.homedepot.com

Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia. The Home Depot employs more than 355,000 people and operates 2,164 big-box format stores across the United States (including the 50 U.S. states, the District of Columbia, Puerto Rico, the United States Virgin Islands), Canada (ten provinces), Mexico and China.^[1]

The Home Depot is the largest home improvement retailer in the United States, ahead of rival Lowe's.

Contents 1 History 2 The Home Depot today 2.1 Board of directors 2.2 Marketing 2.3 Exclusive brands 2.4 Fuel Centers 3 Major sponsorships 4 Environmental Record 5 The Home Depot internationally 5.1 Canada 5.2 Mexico 5.3 China 5.4 Other 6 References

[edit] History

The Home Depot was founded in 1978 in Atlanta, Georgia by Bernie Marcus and Arthur Blank after the two got fired from their positions at Handy Dan. The company grew rapidly, with sales topping $1 billion annually by 1986. In 1997, Home Depot expanded to Chile and Argentina with unexpected success during these countries' economic booms. But due to labor union influences in countries historically moved by economic socialism (unlike the highly capitalism-oriented economy in Mexico), Home Depot wanted to pull out and avoid conflict of interests with their governments. Home Depot remains active in South America, but increasingly focuses on its twelve new stores in China opened in 2006 with better results and success in a communist, but free-enterprise motivated country. ^[2] In 2000, after the retirement of Marcus and Blank, Robert Nardelli was appointed chairman, president, and CEO. Nardelli was replaced in January 2007 by Frank Blake. ^[3]

[edit] The Home Depot today

Home Depot stores are large, averaging 105,000 ft² (9,755 m²) and warehouse-style, stocking a large range of supplies. The company color is a bright orange (PMS 165, CMYK 60M100Y), on signs, equipment and employee aprons.

On January 2, 2007, Home Depot and Robert Nardelli mutually agreed on Nardelli's resignation as CEO after a six-year tenure. Nardelli resigned amid complaints over his heavy handed management and whether his pay package of $123.7 million, excluding stock option grants, over the past 5 years was excessive considering the stock's poor performance versus its competitor Lowe's. His golden parachute severance package of $210 million has also been criticized because when the stock went down his pay went up.^{[3] [4]} His successor is Frank Blake, who previously served as the company's vice chairman of the board and executive vice president. Shareholders expressed relief at Nardelli's departure but doubt whether the incoming CEO Frank Blake can run a retail business as large as Home Depot.^{[4] [5]}

[edit] Board of directors

Current members of the board of directors of Home Depot are: Greg Brenneman, Richard H. Brown, John Clendenin, Claudio González, Milledge Hart, Bonnie Hill, Laban Jackson, Lawrence R. Johnston, Ken Langone, and Tom Ridge.

[edit] Marketing

Slogans used by the Home Depot: "You can do it. We can help." has been used since 2003. Other slogans used in the past 25 years include "The Home Depot, Low prices are just the beginning" in the early 1990's and "When you're at the Home Depot, You'll feel right at home" in the late 1990's and "The Home Depot: First In Home Improvement!" from 1999-2003.

[edit] Exclusive brands

The Home Depot carries several exclusive brands, including:

• Hampton Bay (lighting, ceiling fans & patio furniture)
• Pegasus (kitchen and bath items)
• Glacier Bay (faucets and bath)
• Husky (tools)
• Vigoro (fertilizer)
• Ryobi (power tools)
• Millstead
• Mill's Pride
• Workforce
• Thomasville cabinetry
• Behr (paint)
• Ralph Lauren paint

[edit] Fuel Centers

Starting in 2006, Home Depot has started testing with Fuel Centers at some of its stores. The first centers located in Hermitage and Brentwood (both in Tennessee), and Acworth, Georgia are expected to earn $5-$7 Million per year. The fuel centers sell beer, hot food, snacks along with providing diesel at a separate island. This allows contractors with large trucks to be able to fill their vehicles. The fuel centers also offer car washes, which are large enough to accommodate full size pickups.

[edit] Major sponsorships

Since 1991, the company has become a large supporter of athletics, sponsoring the United States and Canadian Olympic teams, and launching a program which offered employment to athletes that accomodates their training and competition schedules. While remaining supportive of Canadian Olympians, Home Depot ceased to be a sponsor of the Canadian Olympic Team in 2005. Company co-founder Blank also purchased the Atlanta Falcons franchise of the National Football League in February 2002. The Home Depot is also the primary sponsor of two time NASCAR Champion (2002, 2005) Joe Gibbs Racing. NASCAR driver Tony Stewart drives The Home Depot #20 Chevrolet Monte Carlo SS. The Home Depot is also the title sponsor of The Home Depot Center in Carson, California, home to both the Los Angeles Galaxy and Chivas USA of (Major League Soccer), and Los Angeles Riptide (Major League Lacrosse), and many past major sporting events.

In January 2007, The Home Depot became the official Home Improvement sponsor of the National Football League. [1]

In October 2006, The Home Depot partnered with Duke University to create “The Home Depot Smart Home,” a residential laboratory where Duke students will research and develop innovative solutions for the home in areas such as security and home monitoring, communications, energy efficiency, entertainment, environment and health.[2]

[edit] Environmental Record

Home Depot has stated on their website that they have a commitment "to the environment and pledge to continue to be an industry leader in looking for products and services that are respectful of our world." [3]

In 2002 Home Depot ended the sale of wood from endangered forest areas, aka old-growth. [4] Currently they are offering energy-efficiency-related products, and eliminating the use of an arsenic-based wood preservative called copper arsenate (CAA). [5]

Their website offers ways to reduce your carbon footprint with 10 things you can do at home. [6]

As of November of 2006 the company has improved its wood sourcing, but offers almost no nontoxic lawn care options, limiting consumers to products that poison animals and people. [7]

In April of 2007 Home Depot announced it's own label, Eco Option, for nearly 3,000 products, from fluorescent light bulbs that conserve electricity and natural insect killers, to sustainable forestry and clean water practices. The idea is that the brand name will identify the products as environmentally friendly. The initiative is expected to include 6,000 products by 2009, representing 12 percent of the chain's sales. [8]

Home Depot has worked with environmental groups to develop a variety of green programs, like offsetting carbon emissions from its headquarters by planting thousands of trees in Atlanta. [9]

In May of 2007 PETA asked The Home Depot to stop selling a notoriously inhumane product — glue trap. Glue traps are a pest-control device where animals get stuck to the board, often suffer for days before they finally succumb to starvation, dehydration, self-mutilation, and shock. Patches of skin, fur, or feathers are torn from their bodies as victims struggle frantically to escape the relentless adhesive. Many animals chew off their own limbs trying to free themselves, and others get their noses, mouths, or beaks stuck in the glue and suffocate. [10] Home Depot's response is, "While we respect the views of animal welfare organizations and their members, in no case should the interests of rats be placed above human health and safety considerations. For many consumers, glue traps provide a poison-free alternative to other pest control methods, and they ensure safety for humans and pets alike." [11]

In addition, Home Depot stores add to the sprawling of America, increasing traffic and pollution and diminishing the autonomy of individual communities.

[edit] The Home Depot internationally

[edit] Canada

Home Depot Canada is the Canadian unit of Home Depot and one of Canada's top home improvement retailers. The Canadian operation consists of almost 150 stores and employs over 26,000 people in Canada. Home Depot Canada has stores in all ten Canadian provinces and serves territorial Nunavut, Northwest Territories, and Yukon through electronic means (Online and catalog sales).

The Canadian unit was created with the purchase of Aikenhead Hardware. Home Depot management has an ambitious plan to overtake its biggest competitor, Rona, which has about four times as many stores. However, many of Rona's stores are smaller than the typical Home Depot store. In terms of big box stores, Home Depot has many more stores than Rona. Home Depot will also face competition from Lowe's as they move into the Canadian market in 2007; Lowe's first Canadian outlets will be located in Ontario.

[edit] Mexico

The Home Depot entered Mexico in 2001, and has since become one of the largest retailers in Mexico, operating more than 50 stores with over 6,600 employees. Border town Home Depots attract some American consumers to make their US dollar go further in purchases of mostly same home improvement products in Home Depots of Tijuana, Mexicali, Ciudad Juarez, Nuevo Laredo and Matamoros. In 2006, Home Depot began a program to offer Mexican employees to have "guest worker" incentives for Mexican nationals and Latin Americans to easily, but legally obtain employment in Home Depots across the US. ^{[citation needed]}

[edit] China

In December 2006, The Home Depot announced its acquisition of the Chinese home improvement retailer The Home Way. [12] The acquisition gave The Home Depot an immediate presence in China, with 12 stores in six cities. Although China is ruled by the communist party, the government allows Home Depot to further deregulate its practices, decide on matters liberally on employee benefits and labor union membership in a socialist country.

[edit] Other

Despite no official documents released on Home Depot's desire to enter other countries markets, the Home Depot was rumored to invested future expansion to Europe (i.e. the United Kingdom) and East Asia (i.e. Japan), but Home Depot has a strong "union-free" policy like other major retail companies (Wal Mart blazed the trail for over 40 years), or may tolerate labor unions in some states or countries to a certain point. Home Depot had nine stores across South America from 1997 to 2002, but aborted expansion for new stores by 2003 due to the region's economic downturn (recession), left-wing government intervention and labor union influences.

[edit] References