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)
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).
Home Depot’s slogan, “More saving. More Doing.”, promotes Home Depot’s marketing strategy with more appeal for customers with less money to spend. Home Depot carries major brands but also carries Home Depot exclusives and proprietary brands which save customers money. Home Depot carries major brands like Dewalt, Hampton Bay, Homelite, and Martha Stewart Living. They also carry proprietary brands such as Ryobi, Rigid, Behr, LG and Toro.
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.
Bianchi, C. (2006). Home Depot in Chile: Case study. Retrieved January 10, 2011, from http://www.carlospitta.com/Courses/Gestion%20Financiera%20Internacional/Cases/Home%20Depot%20Case.pdf
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
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
The Home Depot began changing consumer’s perspectives about how they could care for and improve their homes, by creating a “do-it-yourself’ concept. According to the founders, the customer has a bill of rights at the Home Depot. The bill of rights entitles the customer to the right assortment, quantities and price (of tools and home improvement supplies) along with trained associates on the sales floor. Home Depot describes their business strategy as a three legged stool, which stands for customer service, product knowledge and availability and disciplined capital allocation. (Moskowitz,
By being a customer oriented company Lowe’s uses the information that is given to them to help build upon their great reputation. To help show that Lowe’s is willing to help others they continue to help with disaster relief not only by donating money and supplies but also help rebuilding. Compared to its rivals I am certain that Lowe’s will be able to carry out its goals and missions. With having one of the best customer service programs in its market Lowe’s does its best to not only help its customers out as a whole but also on an individual level. Lowe’s will continue to grow across the nation to ensure to help you with your every home improvement need.
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.’
Daniel J. Cohen-Collazo McCulloch Economic 6th 21 September 2017 What are some of the biggest home improvement companies out there today? Lowes, Bed Bath And Beyond, Ace Hardware, and we can keep on going down the list. But there is no better home improvement store then Home Depot. Between their stocks increasing every day to the base of this organization.
Mr. Nardelli joined GE in 1971 as an entry-level manufacturing engineer. By 1995, he had risen to president and CEO of GE Power Systems, also having the title of GE senior vice president. In 2000 he left GE, and about 10 minutes after leaving he received a job offer from a member of the board of Home Depot.
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