Home Depot is one of the largest home improvement retailers in the world. The company has a huge catalog of products and is known for its excellent customer service. It also has a large network of professional contractors, tradesmen, and remodelers that assist their customers.
The chain has 2,300 stores across the United States, Canada, and Mexico. It sells a wide variety of products, from hardware and appliances to building materials and tools.
Retail sales of home improvement goods have been on the rise since the 1990s, and Home Depot has benefited from this trend. But the company faces a number of challenges.
High interest rates and falling home sales could impact Home Depot’s earnings for several years. Investors should wait until they see how these trends affect the company’s results before buying shares of Home Depot stock.
Founded in 1978 by Bernard Marcus and Arthur Blank, Home Depot has grown to be the largest home improvement retailer in the U.S. The company is best known for its do-it-yourself (DIY) and professional services.
The company’s success can be attributed to its extensive product catalog, excellent customer service, and competitive prices. The chain has more than 2,300 stores and 500,000 employees, making it the world’s largest home-improvement retailer by net sales.
In order to compete with its rivals, Home Depot has developed a number of innovative products and services. These include a “buy online, pick-up-in-store” program for DIY customers, and workshops that teach consumers how to tackle do-it-yourself projects.
These efforts have helped to create a strong customer base, but they’ve also strained the company’s finances. For example, it spent $44 million on marketing in the second quarter of 2015 – up from $16 million in the previous quarter.
As Home Depot expands into the e-commerce space, it will need to continue generating high levels of sales through its website. In addition, it has to maintain a large inventory of products in order to meet demand.
Moreover, it has to offer an excellent return policy to customers who buy from the company’s website. For instance, if you purchase an item and it arrives damaged, you can send the company an email within three days of receiving your purchase and they will ship a replacement at no charge.
Another initiative that has helped to keep the company’s customer base and profits strong is its ongoing focus on giving back to communities around its stores. As part of its mission, Home Depot has committed to contributing 5% of its annual revenues to nonprofits.
Its employees are encouraged to volunteer their time for a variety of local charities. The company is also active in the Boy and Girls Clubs of America and Habitat for Humanity.
The company has made a big effort to train its employees on the products they sell. In fact, most of the salespeople have both do-it-yourself experience and a degree in construction or other technical fields.
In addition, Home Depot has a long history of providing its employees with training in the field of interior design. This has helped the company gain a reputation for providing the highest quality home furnishings and accessories at competitive prices.