Careers at The Home Depot
The Home Depot (“Home Depot”) seeks to support do-it-yourself and third-party home-improvement projects by providing a wide range of building materials, tools and home improvement equipment, and other products to homeowners and professional contractors.
Home Depot was established in 1978 by Bernie Marcus and Arthur Blank. The pair partnered with investment banker Ken Langone and merchandising professional Pat Farrah to open the first two Home Depot stores in Atlanta in 1979.
The stores were built in spaces leased from retailer J.C. Penney. Home Depot completed an initial public offering on the NASDAQ in September 1981, raising USD 4.09 million. The Company later joined the New York Stock Exchange in April 1984.
Following its initial public offering, Home Depot began to expand its presence out of Georgia and into Florida, opening stores in Hollywood and Fort Lauderdale.
This was followed in 1984 by the Company’s acquisition of Bowater Home Centre, which gave the Company a presence in Dallas. Home Depot continued to expand its operations throughout the 1980s, but was forced to curb its expansion slightly owing to financial difficulties.
By the 1990s, Home Depot had established itself as the largest home improvement retailer in the US.
The Company has continued to expand its operations both organically by via strategic acquisitions. Home Depot currently operates around 2,200 stores across three countries.
It is ranked 23rd on the Fortune 500 list and has a current market capitalisation of approximately USD 209.9 billion.
Business model of The Home Depot
Home Depot serves a broad customer base, comprising general consumers and professionals. The Company divides its core customers into three principal categories:
- Do-It-Yourself (DIY) Customers, primarily comprising general consumers and homeowners who require products and tools for their own at-home projects and installations;
- Do-It-For-Me (DIFM) Customers, comprising homeowners and small business owners who require materials, equipment, and third-party assistance in the completion of their own projects; and
- Professional Customers, comprising various professional renovators and remodelers, general contractors, repairmen, installers, small business owners, and tradesmen.
Home Depot’s key market is the US, where it has secured a positions as the largest home improvement retailer. The Company also serves customers in Mexico and in Canada.
Home Depot provides value to its customers in the following ways:
- Reputation and Standing – Home Depot is the largest retailer of home improvement equipment and materials in the US, with a reputation for providing high quality products and services that dates back to the 1970s;
- Sales Reach and Accessibility – Home Depot operates a broad network of sales outlets across North America, comprising 2,287 retail outlets across the US – including the Commonwealth of Puerto Rico and the territories of the US Virgin Islands and Guam, Canada, and Mexico, as well as an online store;
- Broad Product Catalogue – Home Depot offers a wide range of home improvement products across multiple categories, including appliances, plumbing, paints and chemicals, tools and equipment, walls and flooring, wood, and lighting;
- Customer Service and Expertise – Home Depot prides itself on providing customers with excellent customer service and guidance, including having its in-store employees walk customers of any skill level through a wide range of home repair or improvement tasks.
Home Depot is the largest home improvement retailer in North America. It serves its customers primarily via its network of retail outlets.
This network currently comprises more than 2,28 Home Depot stores located throughout the US – including the Commonwealth of Puerto Rico and the territories of the US Virgin Islands and Guam – as well as across Canada, and Mexico.
Home Depot stores average approximately 104,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. The Company’s stores are staffed by dedicated in-store sales and service personnel who deal directly with customers.
In addition to its physical retail locations, Home Depot operates an online sales channel, through which customers can browse products, place orders, and schedule deliveries on a self-service basis.
The Company’s network of stores also operates as a series of locations for online customers to pick-up or return merchandise. Home Depot’s retail operations are supported by its distribution and logistics infrastructure, which includes more than 200 distribution centres located across the US, Canada, and Mexico.
Home Depot sells products directly to its customers.
The Company’s in-store sales personnel interact personally with customers to assist in their shopping experience, responding to queries, handling complaints, and providing guidance.
Its in—store personnel are also trained to be able to coach customers through various home improvement tasks and projects.
The company seeks to encourage recurring business from its customers by providing high quality products at reasonable prices, supported by excellent customer service.
Home Depot operates an online store at www.homedepot.com, through which customers can browse products, make purchases, and arrange deliveries on a self-service basis.
The Company also offers customers access to deals and discounts via its website=, as well as through its membership program. Home Depot additionally operates a dedicated customer support team, which operates out of the company’s offices and provides personalised support to customers over the phone and online.
Home Depot operates several social media accounts, including with Twitter and Facebook, through which it is also able to communicate directly with customers and publish company updates.
Home Depot operates as a home improvement retailer. The Company sells a wide range of building materials, home improvement products, and lawn and garden products, and provides various home improvement services through an network of more than 2,200 retail outlets across the US, Canada, and Mexico, as well as an online store.
The Company offers products and materials across the following categories: plumbing, wood, walls and flooring, tools and equipment, paints and chemicals, appliances, architectural, bath, building materials, and home interior.
Home Depot stores serves three primary customer groups: do-it-yourself customers, do-it-for-me customers, and professional customers.
Home Depot works closely with a network of partner companies and organisations across the US, Canada, and Mexico.
The Company’s core partners can be organised broadly into the following categories:
- Supplier and Vendor Partners, including suppliers of products and materials that are sold across the Company’s retail outlets, as well as suppliers of third party services, which support the Company’s corporate activities more broadly;
- Installation and Service Partners, comprising a network of contractors, tradesmen, and professional installers that assist customers with the installation and completion of home improvement products on the behalf of Home Depot;
- Distribution Partners, comprising logistics providers and distribution companies that support the Company’s storage, distribution, and delivery activities, ensuring that stores and customers are served efficiently and reliably;
- Community and Diversity Partners, comprising a range of non-profit bodies and charitable organisations with which the Company works on community and diversity projects across the US, Canada, and Mexico; and
- Strategic and Alliance Partners, comprising various other companies and organisations with which the Company collaborates on other projects, including in business development, marketing, and sponsorship.
Home Depot has established a number of partnerships in recent years. This includes tie-ups with renewable energy provider Vivint Solar, social media company Pinterest, broadcaster The Weather Channel, and manufacturer Bosch Home Appliances.
Home Depot’s business model depends on its ability to provide customers with high quality products and services efficiently, and to provide reliable contracting services.
As such, the Company’s key resources are its brand, its products and inventory, its suppliers and supply chain, its network of retail outlets, its distribution and storage infrastructure, its online store, its IT and communications infrastructure, its partnerships – in particular its service and installation partners, and its personnel.
Home Depot protects its brand name via trademarks, service marks, copyrights, and internet domain
names, both domestically and internationally. In addition to Home Depot, the Company also owns the also brand names HDX , Husky, Hampton Bay, Home Decorators Collection, Glacier Bay, and Vigoro. Home Depot notably owns and or leases a large portfolio of properties across the US, Canada, and Mexico, including more than 2,000 retail stores, as well as a network of warehouses, distribution centres, and offices.
Home Depot incurs costs in relation to the purchasing of products and materials for sale across its stores, the procurement of third party services, the operation of its store network and distribution infrastructure – including occupancy and utility costs, the operation of its online store, the development and maintenance of its IT and communications infrastructure, the management of its partnerships, the implementation of marketing and advertising campaigns, and the payment of salaries and benefits to its personnel.
In 2018, Home Depot recorded total operating expenses in the amount of USD 21.6 billion, comprising selling, general, and administrative expenses totalling USD 19.5 billion, depreciation and amortization of USD 1.9 billion, and impairment losses totalling USD 247 million.
Home Depot generates revenue through the sale of home improvement products and materials, as well as through the provision of installation services.
The Company derives its revenue primarily in the form of sales and service fees collected from customers at point of sale, including across its stores and via its online store.
In 2018, Home Depot recorded annual net sales of USD 108.2 billion, up on the USD 100.9 billion recorded by the Company in 2017.
The bulk of the Company’s sales are recorded across its network of physical retail outlets in the US, Canada, and Mexico.
info: Craig Menear (“Menear”) has served as President and Chief Executive Officer at Home Depot since November 2014, and has been the Company’s Chairman since February 2015. He is responsible for leading the Company’s strategic direction, leading the Board of Directors, and coordinating between the company’s directors and its executive leadership team. Menear is a long-serving Home Depot employee, having first joined the Company more than 20 years ago. He has served in a number of leadership positions at Home Depot, including spells in the Company’s merchandising, supply chain, store operations, sourcing, marketing, and online sales units. He previously served in a variety of roles in mass, home centre and specialty retailing and operated his own independent retail business.
info: Carol B. Tomé (“Tomé”) has served as Chief Financial Officer at Home Depot since May 2001 and has been the Company’s Executive Vice President of Corporate Services since January 2007. She is responsible for leading the Company’s real estate, financial services, and strategic business development, including oversight of the Company’s financial reporting and operations, financial planning and analysis, internal audit, investor relations, treasury, and tax. Tomé is a long-serving Home Depot employee, having first joined the Company in 1995. Prior to joining the Company, she served as Vice President and Treasurer of Riverwood International Corporation. In addition to her role at Home Depot, Tomé serves as Chair of the Policy Advisory Board for the Harvard Joint Centre for Housing Studies and Chair of the board of trustees for the Atlanta Botanical Garden. She is also a trustee of Grady Hospital and a member of The Committee of 200 and The Buckhead Coalition.
info: Matt Carey (“Carey”) has served as Executive Vice President and Chief Information Officer at Home Depot since joining the Company in 2008. He is responsible for overseeing the Company’s IT infrastructure and software development, including communication networks, and for leading its IT strategy, including the development and execution of technologies used in stores, online and in its supply chain. Carey began his career in 1985, when he joined Wal-Mart Stores Inc. She served in a number of roles at Wal-Mart Stores Inc over a period of 20 years, culminating in a spell as Senior Vice President and Chief Technology Officer. He served briefly as Senior Vice President and Chief Technology Officer at eBay Inc from 2006 to 2008 before joining Home Depot in 2008.
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