The Home Depot is the world’s largest specialty retailer of home improvement products.
At the conclusion of the second quarter, the Company had 2,298 retail shops in all 50 states, the District of Columbia, Puerto Rico, the United States Virgin Islands, Guam, ten Canadian provinces, and Mexico.
Its reported sales of $132.1 billion and earnings of $12.9 billion in fiscal 2020.
Approximately 500,000 colleagues work for the company.
The stock of Home Depot is traded on the New York Stock Exchange (NYSE: HD) and is a component of the Dow Jones industrial average and the Standard & Poor’s 500 index.
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What is Home Depot?
According to Deloitte’s annual Global Powers of Retailing report, it is one of the top 10 retail chains in the world.
When the founders, Bernie Marcus and Arthur Blank, established their first shop in Atlanta, Georgia, in June 1979, it was the largest home improvement specialty store in the world.
Back then, each shop sold around 25,000 distinct home improvement products, according to investment banker Ken Langone and merchandising specialist Pat Farrah.
Today, the company sells 36,000 products in its storefronts and provides another two million online.
As well-known as it is now, there is even more little-known history, trivia, and fascinating facts about the brand that many people are unaware of.
Interesting Facts About Home Depot’s Early Years
Empty product boxes were intentionally put on high shelves in the first locations to create a warehouse effect and give customers the impression that its stores were packed to the rafters with home improvement products.
The co-founder Bernie Marcus claims that when the first store opened, he spent the first several months stationed in the parking lot conducting informal spontaneous consumer surveys, asking anyone leaving the store without shopping bags why they didn’t make a purchase.
Marcus recalls that many of those who sent comments mentioned how the store didn’t have the things they were looking for.
Marcus and colleagues resolved the matter by purchasing the products in question from competitors, repricing them at their price, and then delivering them directly to customers.
Brands Sold Only at Home Depot
A large portion of Home Depot’s success can be due to its exclusive sales of items by companies such as Ryobi® tools and RIDGID® tools, as well as LG® appliances, Toro® lawn equipment, and Cub Cadet® lawn equipment.
According to the annual J.D. Power Paint Satisfaction Study, Home Depot’s proprietary paint brand, BEHR®, is the top-ranked consumer brand of paint.
Home Depot’s Anti-Competition Strategy
Its Low Price Guarantee is an ongoing commitment to beat any competitor’s advertised price on any product
If the product is ordered online, it will match a competitor’s price, including shipping.
If a consumer purchases an item in-store, the retailer will match the price of an identical, in-stock goods if the customer provides an ad, printout, or photo showing the competitor’s pricing.
Seasonal, obsolete, or clearance items, special order products, items offered with rebates, items from membership retail wholesalers, free offers or limited promotions, prices based on typographical errors or misprints, and more.
The Home Depot by the Numbers
A Home Depot retail store is typically 105,000 square feet in size, with an extra 24,000 square feet of outdoor seasonal space in the garden area.
The largest store is 225,000 square feet in Union, New Jersey, with the second largest location in Anaheim Hills, California, at 204,000 square feet. Despite failing attempts to expand in China and South America, Home Depot is one of the largest retailers in North America, employing roughly half a million associates at nearly 2,000 shops in the United States and several hundred more in Mexico and Canada.
Home Depot’s Customer Care Philosophy
Customers and associates are their core priorities, and the two are not mutually exclusive. The company functions on an inverted pyramid, with the client at the top, followed by front-line workers, field and corporate support teams, and the CEO at the bottom.
“Take care of your colleagues.”
They will look after the customers.
“And everything else will take care of itself,” Mr. Marcus says.
With their customers in mind, the founders drafted a Customer Bill of Rights that stated that they should “always anticipate the best assortment, quantity, and pricing, as well as the assistance of a trained sales associate when they visit a Home Depot shop.”
Employees with a Gold Medal
It established its Olympic Job Opportunity Program in 1992.
In nearly two decades, the program, which was dissolved in 2009, offered athletes with advantages and flexibility for training and performance, employing 570 Olympic hopefuls.
Home Is Where the Heart Is
The Home Depot Foundation has given more than $200 million to philanthropic organizations, and the Framing Hope Program has given more than $100 million in product donations to humanitarian causes.
How does the Home Depot Health Check App work?
Home Depot is a web-based business that sells a variety of goods and services, including technology and home improvement products.
They almost certainly have a huge number of representatives for dealing with this largest client.
Home Depot has locations in the United States, Canada, and other countries.
Because of pandemics, everyone these days needs to save and be prudent for himself and his loved ones.
Home Depot introduced the “Home Depot Health Check App” to mitigate this danger. What exactly does the phrase it mean?
Home Depot provided a licensed “Home Depot Health Check application” for partners and non-partners, which is uncommon in the United States.
Our well-being check software’s major purpose is to save both couples and non-partners.
Each partner must complete the structure referred to in the Home Depot well-being check application before demonstrating duty.
To get helpful information, the Home Depot wellness check application division contacts government bodies or health professionals, and they also trade data as needed.
The Home Depot Health Check App Login Procedure
The Health Check application’s sign-in process is simple.
To begin, you must identify whether you and your partner are partners or not.
There are two distinct procedures and cycles for couples and non-partners.
Check that you made the right choice:
SSO Associates/Employees Login Process
- Go to https://healthcheck.homedepot.com/ to access the Web landing page.
- There will be two choices: partners and non-partners. You must choose your “partners.”
- You will be taken to the login screen, where you must input the following information: “Area, User ID, and Password.”
- After that, click the sign-in button.
Login Procedure for Non-Partners of SSC
If you are not a partner, you have completed the required information related with your distinguishing proof, such as your name, cell phone number, and so on.
So, if you follow the instructions below, you should be able to log in without too much difficulty:
Downloading the Home Depot Health Check App
The Health Check App, as you are probably aware, is an electronic software in which you may log in and complete out the basic foundation offered by the Health Check executives.
The program just opens the application, logs in, and populates the structure after the introduction.
The Advantages and Functions of the Home Depot Health Check App
This program has several advantages and features.
These advantages apply not only to couples but also to their families.
The Health Check app allows partners to plan ahead of time for themselves and their families.
Some of the benefits are as follows:
They offer extensive health care coverage, particularly for spouses, and they also have collision protection.
Leaves of Absence, Holidays, and Remembrance Days can also be designated by representatives.
Partners can also benefit financially from stock purchases, bank loans, and so on.
Home Depot Credit Card
As proven by its tremendous growth in 2020, Home Depot is a top choice among buyers when it comes to purchasing home renovation materials and services. Whether you’re working on a little restoration job or a huge construction project, the Citibank Home Depot credit card allows you to keep your connected spending separate from your other purchases.
It also offers one-year hassle-free returns and special, daily financing on purchases of $299 or more, as well as exclusive cardholder credit incentives. Furthermore, some Home Depot credit card offers include up to 24 months of special financing.
After making purchases with your card, take these procedures to make payments.
How to Make an Online Home Depot Credit Card Payment
It is simple to make a payment online.
This is how.
- Before you begin, gather your bank account number and the ABA routing number.
- Go to Home Depot’s consumer credit card login page.
- Enter your username and password to access your Home Depot account.
- Follow the on-screen instructions to make a payment.
You may also manage your Home Depot card online, which allows you to not only pay bills but also check your account activity, receive unique offers, and set up account notifications.
Companies Owned by Home Depot
Home décor, window coverings, power equipment, online directory, and distribution
The Home Depot Inc. (HD), a renowned home improvement shop, was founded in 1978 by two ardent do-it-yourselfers, Bernie Marcus and Arthur Blank.
Their idea was for a superstore with a wide selection of items, reasonable costs, and a highly trained staff that could guide consumers through most forms of home repair and renovation.
The first two stores debuted in Atlanta in 1979.
Since going public in 1981, the firm has expanded to become the world’s top home improvement retailer, with almost 2,300 locations across the United States, Canada, and Mexico.
It also sells over a million things online. Home Depot, which is still predominantly a brick-and-mortar company, has averted significant sales losses to e-commerce behemoth Amazon.com Inc. (AMZN) for one important reason:
Many of its products are huge and bulky, making them difficult to ship via rapid mail. Home Depot, which primarily sells to individual consumers and professional builders, earned $12.9 billion in net earnings on $132.1 billion in net sales for its 2020 fiscal year (FY), which concluded Jan. 31, 2021. 3 As of July 9, 2021, the company’s market capitalization was $341.3 billion.
Throughout its history, it has focused on providing personalised service to professional contractors and do-it-yourself customers. This service includes educated professionals who can instruct consumers on everything from running a power tool to changing a valve to laying tile. Home Depot’s acquisitions mirror this strategy.
The corporation has concentrated on transactions that improve its core business: by expanding product availability and hiring highly qualified professionals in certain home improvement categories
Sales to professional builders and contractors have grown in importance in the company’s operations.
While its core business is brick-and-mortar stores, the company has also expanded through acquiring online companies with a strong customer focus.
Six of its significant acquisition are discussed below.
Compact Power Equipment Inc.
- Type of business: Equipment rental and maintenance services
- Acquisition price: $265 million4
- Acquisition date: July 6, 2017 (announced date)
Compact Power Equipment, founded by entrepreneur Roger Braswell, rents out equipment such as cranes, excavators, tractors, and trenchers.
Compact Power Equipment originally established a long-term commercial partnership with Home Depot in 2009, launching rentals at 115 Home Depot locations across six states.
Home Depot purchased the company in 2017, and it was then providing equipment rentals at over 1,000 of it shops across the United States and Canada.
The acquisition expands Home Depot’s professional business offerings and services.
The Company Store
- Business type: Online retailer of textiles and home décor products
- Acquisition price: Terms of the transaction were not disclosed
- Purchase date: December 19, 2017
The Company Store, which was started in 1911, distributes online linens, blankets, bath towels, select clothes, and other home décor products.
They purchased The Company Store, except its five retail sites, from Hanover Direct in 2017.
In addition to instantly expanding Home Depot’s online presence, the transaction allowed the company to expand into other sectors of the online décor market by providing excellent product development and sourcing capabilities.
Interline Brands Inc.
- Type of business: Distributor and direct marketer of building products
- Acquisition price: $1.6 billion
- Acquisition date: Aug. 24, 2015
Interline Brands was established in 1978 as Wilmar Industries Inc.
Professional contractors, facilities maintenance professionals, hardware shops, and other customers in the United States, Canada, and Puerto Rico use the company’s maintenance, repair, and operations goods.
Interline Brands was purchased by Home Depot in 2015 for slightly more than $1.6 billion.
By adding an experienced account sales team, fulfillment capabilities, and an extensive distribution network, the acquisition increased Home Depot’s sales and services largely to professional contractors and maintenance repair firms.
Blinds.com
- Business type: Online window coverings retailer
- Acquisition price: The terms of the transaction were not disclosed.
- Acquisition: January 23, 2014
Blinds.com’s origins may be traced back to a website called NoBrainerBlinds.com, which began selling blinds and shades in June 1996.
The company specializes in online window covering sales, including live chat and face-to-face video counseling services.
When they bought Blinds.com in 2014, the online window coverings sector was booming.
Its web presence has improved as a result of the acquisition.
Redbeacon
- Business type: online home improvement services
- Acquisition price: The terms of the transaction were not disclosed.
- Acquisition date: January 20, 2012 (announced date)
Redbeacon was formed in 2008 by former Google employees Aaron Lee, Ethan Anderson, and Yaron Binur and earned the 2009 TechCrunch 50 award.
The organization offers an online search directory of local business listings that includes ratings and reviews of screened and approved home contractors.
Customers who use the service can obtain various pricing quotes and make appointments with local business specialists.
It bought Redbeacon in 2012, and the company is now known as Pro Referral.
The acquisition is yet another illustration of how it has grown and improved its online services.
HD Supply
- Business type: Wholesale distributor of maintenance, repair, and operations (MRO) supplies.
- Acquisition price: around $8 billion
- Acquisition date: December 24, 2020
HD Supply Holdings Inc. began as Maintenance Warehouse in 1974. Maintenance Warehouse was purchased by Home Depot in 1997 and renamed Home Depot Supply, then HD Supply. Home Depot sold HD Supply to a group of private equity investors in 2007.
When they repurchased HD Supply in late 2020, the firm had expanded to 44 distribution locations across the United States and Canada, making it a leading distributor of maintenance, repair, and operations (MRO) supplies. The purchase expands Home Depot’s MRO footprint in the hotel and multifamily end markets. The agreement will also assist Home Depot in increasing business with larger contractors and other professional clients, who often do business with specialty suppliers.
What Are the Hours of Operation at Home Depot?
Because each Home Depot site is unique, hours may differ. Some don’t open until 7 a.m. on weekdays and close at 8 p.m. on weekends. On holidays such as Memorial Day or Christmas, you should call your store to find out their holiday hours.
Regardless, many establishments have standard operating hours. We visited numerous stores across the country and discovered that stores are frequently open during the following hours:
Typical Store Hours at Home Depot
Most stores are open from 6:00 a.m. to 10:00 p.m. Monday through Saturday, and from 8 a.m. to 9:00 p.m. on Sundays.
Do you need to know the store hours for your neighborhood Home Depot? We’ve outlined how you can find out in just two minutes online.
How to Locate Your Local Home Depot Hours
Although it is a national brand, store hours vary by location.
Before you visit and discover the doors are locked, here’s how to easily learn your local Home Depot’s store hours:
- Go to homedepot.com.
- In the upper right corner, click Store Finder.
- Enter your zip code, city, state, or store location.
- Select the store’s name or “store details.”
- Look for the hours in the upper left corner of the page.
Home Depot Near Me – Stores in the Neighborhood
There’s also a map with the words “additional stores nearby.”
So, if you missed the closing time at one, you might still be able to get to another neighboring alternative before it closes.
The page also includes local reviews and ratings for the store, so you can get a sense of how it is before you go.
Home Depot Diversity & Inclusiveness Transparency
We have emphasized the openness of its commitment to diversity, inclusiveness, and social responsibility as part of our attempt to raise awareness of the importance of diversity in the workplace. The chart below depicts how Home Depot reports its management and employee diversity. This demonstrates if Home Depot provides information regarding the diversity of its board of directors, C-Suite, general management, and employees overall across a range of indicators. We’ve marked that transparency with a.
FAQs
Who is the owner of The Home Depot?
Meet Bernie Marcus, the 90-year-old billionaire Home Depot founder who is a strong Trump donor and intends to give away the majority of his $5.9 billion wealth. It’s a bookmark.
Is Home Depot a trustworthy company?
The Home Depot is deeply committed to ethics and integrity, and our core principles determine how we conduct business.
What is the most popular product at Home Depot?
Home Depot’s indoor garden product category produced global sales of more than 15.5 billion US dollars in 2021. Meanwhile, the company’s global flooring net sales were around $9.2 billion USD.
Is there a Memorial Day sale at Home Depot?
The Home Depot Memorial Day sale has begun, and as one of the year’s biggest Memorial Day specials, it offers homeowners the opportunity to save big on appliances, home and garden products, power tools, and more, just in time for the summer season.
How do I obtain a 20% discount at Home Depot?
Join Pro Xtra to receive a $20 off Home Depot coupon. Join the Pro Xtra loyalty program to receive bonuses, incentives, volume discounts, up to 20% off paints, and order tracking. You’ll also get a $20 off Home Depot coupon code sign-up incentive, which you can apply to your first $200 purchase.
What exactly is a virtual ID from Home Depot?
Once authenticated, you’ll receive a Virtual ID to provide at the register for in-store purchases, or the discount will be applied automatically at the register for online purchases when you’re signed into your Home Depot account.
