Home Depot sells building supplies, tools, and other home improvement products and is the largest home improvement retailer in the U.S.
The Home Depot
The Home Depot opened in 1978 in Atlanta, Georgia, and has over 2,000 home improvement stores in the United States. It is the largest home improvement store in the country and offers a wide range of products and services for home improvement, including appliances, tools, hardware, lumber, and more.
Home Depot was founded in 1978 by Bernie Marcus, net worth $8.7B, and Arthur Blank, net worth $7.8B, who were both fired from their jobs at a regional hardware store before opening Home Depot together. The company went public in 1981.
Bernie Marcus, 93, born to Russian immigrant partners, helped to open the Georgia Aquarium in November 2005.
Author Blank, 80, retired as The Home Depot’s co-chairman in 2001 and bought the NFL’s Atlanta Falcons for $545 million in 2002 (his stake’s now worth $1.8 billion).
They wanted to make Home Depot the Sears Roebuck of the home-improvement industry.
“We believed from the start that if we brought the customer quality merchandise at the right price and offered excellent service, we could change retailing in the United States. Today, we are the model of what retailing should be.”-Bernie Marcus
An Inside Look
Home Depot offers a wide range of services like repair, home security, automation, and home financing services. They also provide home delivery, installation services, and extended warranties.
There are 2,319 retail stores in the United States, Canada, and Mexico, with the most locations in California at 234 stores, making up about 12% of all the stores in the US.
Fun Facts:
- There are more than 35,000 products in the store and more than 1 million online.
- They employ more than 500,000 associates.
- Last year the company produced $151.2B in revenue.
- The most popular products sold in the store are related to plumbing, electrical work, and carpentry.
- Home Depot’s main competitors are Lowe’s and Menard’s.
What’s Not to Love?
The Home Depot is a one-stop shop for all home improvement needs, which makes it an ideal place for people to go and buy a variety of (any)things for their homes.
You can find everything from appliances to tools to building materials all in one place, the prices are usually competitive, you can find good deals, and the staff is usually helpful and knowledgeable.
It’s been said that, in general, women tend to shop more at Home Depot than men.
Women are typically more interested in household projects and home improvement than men and are the primary decision-makers regarding household purchases. No wonder.
It’s clear that people really do love shopping at Home Depot, so clear that their earnings increased over 6% last quarter, and their projections for the upcoming year are looking good.
P.S. Yes, there is a the in the beginning of their name: “The Home Depot”
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