Home Depot

A Brief Company History

Home Depot was founded in Atlanta, Georgia in 1978, by Bernie Marcus and Arthur Blank after the pair were fired from the positions they held at Handy Dan. Rapid growth had the company’s sales top $1 billion annually in 1986. With growth like that, it is no wonder why Home Depot holds the top spot in home improvement retail products.

In 1997, the company moved into Chile and Argentina, and experienced unanticipated success during the economic boom that occurred in those countries. While Home Depot continues to be active in South America, it has begun to focus more on the 12 new stores it opened in 2006 in China. In all, the company has more than 2,100 stores located in all 50 U.S. states, the District of Columbia, Puerto Rico, Canada, China and Mexico.

In 2000, the founders retired and appointed Robert Nardelli as chairman, president, and CEO. After six years of service, Nardelli turned in his resignation amid complaints of heavy-handed management and his $123.7 million pay package that did not include stock option grants. The $210 million severance package he received has also been criticized because when the company's stock went down, his pay went up. For the most part, shareholders breathed a sigh of relief upon Nardelli’s departure, but many have doubts that incoming CEO Frank Blake has what it takes to run such a large a retail business.

What Home Depot Offers

Home Depot stores are warehouse-style stores averaging over 100,000 square feet. They carry almost everything a contractor or homeowner needs to perform basic or extensive home improvement projects. In most cases, you can purchase everything you need to build a new home in one place.

Home Depot also owns EXPO Design Center, a high-end home decorating and appliance chain. In 2006, they acquired Hughes Supply, which has assimilated into HD Supply, serving contractors and multi-family housing developers.

Other offerings include:

• 10 Crescent Lane – A high-end online home furnishing store
• Paces Trading Company – A high-end online lighting store
• Home Decorators Collection – A decorator supply store, which has been added to the Home Depot Direct Division

Brands

Stores carry many exclusive brands, including:

• Hampton Bay – Lighting, patio furniture and ceiling fans
• Pegasus – Kitchen and bath items
• RIDGID – Contractor-grade power tools
• Glacier Bay – Water faucets, bath accessories
• Vigoro – Fertilizer
• Husky – Tools
• Ryobi – Power tools
• Behr – Paint
• Thomasville Cabinetry – Bathroom and kitchen cabinets
• Ralph Lauren Paint – Paint

Home Depot Credit Cards

Like most large retail chains, Home Depot has its own credit card that can be used at any store you visit. Usually offering no interest and no payments for one year if the total purchase is more than $299, the credit card is a great way to get a project finished without having to pay immediate out of pocket costs. You can also avoid paying high interest if you pay the balance off within the time allowed.

Of course, if you do not pay your card off within the no-interest, no-payment period, you will be charged interest from the time you made the purchase; this could turn your $500 purchase into a $600 or $700 purchase.

A Final Note

The Home Depot is a great resource for contractors and homeowners alike. To get a better idea of what stores offer, you can visit the company website at HomeDepot.com.