Monday, April 23, 2007
homedepot
The HOMEDEPOT (NYSE: HD) is an American retailer of home improvement and construction products.
Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia. The HOMEDEPOT employs more than 355,000 people and operates 2,164 big-box format stores across the United States (including the 50 U.S. states, the District of Columbia, Puerto Rico, the United States Virgin Islands), Canada (ten provinces), Mexico and China.[1]
The HOMEDEPOT is the largest home improvement retailer in the United States, ahead of rival Lowe's.
History
The HOMEDEPOT was founded in 1978 in Atlanta, Georgia by Bernie Marcus and Arthur Blank after the two got fired from their positions at Handy Dan. The company grew rapidly, with sales topping $1 billion annually by 1986. In 1997, HOMEDEPOT expanded to Chile and Argentina with unexpected success during these countries' economic booms. But due to labor union influences in countries historically moved by economic socialism (unlike the highly capitalism-oriented economy in Mexico), HOMEDEPOT wanted to pull out and avoid conflict of interests with their governments. HOMEDEPOT remains active in South America, but increasingly focuses on its' twelve new stores in China opened in 2006 with better results and success in a communist, but free-enterprise motivated country. [2] In 2000, after the retirement of Marcus and Blank, Robert Nardelli was appointed chairman, president, and CEO. Nardelli was replaced in January 2007 by Frank Blake. [3]
The HOMEDEPOT today
Distribution of HOMEDEPOT stores in the lower 48 states
HOMEDEPOT stores are large, averaging 105,000 ft? (9,755 m?) and warehouse-style, stocking a large range of supplies. The company color is a bright orange (PMS 165, CMYK 60M100Y), on signs, equipment and employee aprons.
Its 2006 sales totaled US$90.8 billion. Despite the 10% increase in revenue, it dropped three spot to #17 on the 2007 FORTUNE magazine's FORTUNE 500 list (it was #13 in 2005 and #14 in 2006). The HOMEDEPOT also owns EXPO Design Center, a chain of higher-end home decorating and appliance stores. In 2006, The HOMEDEPOT acquired Hughes Supply which is to be assimilated into HD Supply serving contractors. In September 2005, HOMEDEPOT Direct launched its high-end online home-furnishings store, 10 Crescent Lane, shortly followed by the launch of Paces Trading Company, its high-end online lighting store. In mid 2006, HOMEDEPOT acquired Home Decorators Collection which was placed as an additional brand under its HOMEDEPOT Direct Division.
On January 2, 2007, HOMEDEPOT and Robert Nardelli mutually agreed on Nardelli's resignation as CEO after a six-year tenure. Nardelli resigned amid complaints over his heavy handed management and whether his pay package of $123.7 million, excluding stock option grants, over the past 5 years was excessive considering the stock's poor performance versus its competitor Lowe's. His golden parachute severance package of $210 million has also been criticized because when the stock went down his pay went up.[3] [4] His successor is Frank Blake, who previously served as the company's vice chairman of the board and executive vice president. Shareholders expressed relief at Nardelli's departure but doubt whether the incoming CEO Frank Blake can run a retail business as large as HOMEDEPOT.[4] [5]
Board of directors
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Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia. The HOMEDEPOT employs more than 355,000 people and operates 2,164 big-box format stores across the United States (including the 50 U.S. states, the District of Columbia, Puerto Rico, the United States Virgin Islands), Canada (ten provinces), Mexico and China.[1]
The HOMEDEPOT is the largest home improvement retailer in the United States, ahead of rival Lowe's.
History
The HOMEDEPOT was founded in 1978 in Atlanta, Georgia by Bernie Marcus and Arthur Blank after the two got fired from their positions at Handy Dan. The company grew rapidly, with sales topping $1 billion annually by 1986. In 1997, HOMEDEPOT expanded to Chile and Argentina with unexpected success during these countries' economic booms. But due to labor union influences in countries historically moved by economic socialism (unlike the highly capitalism-oriented economy in Mexico), HOMEDEPOT wanted to pull out and avoid conflict of interests with their governments. HOMEDEPOT remains active in South America, but increasingly focuses on its' twelve new stores in China opened in 2006 with better results and success in a communist, but free-enterprise motivated country. [2] In 2000, after the retirement of Marcus and Blank, Robert Nardelli was appointed chairman, president, and CEO. Nardelli was replaced in January 2007 by Frank Blake. [3]
The HOMEDEPOT today
Distribution of HOMEDEPOT stores in the lower 48 states
HOMEDEPOT stores are large, averaging 105,000 ft? (9,755 m?) and warehouse-style, stocking a large range of supplies. The company color is a bright orange (PMS 165, CMYK 60M100Y), on signs, equipment and employee aprons.
Its 2006 sales totaled US$90.8 billion. Despite the 10% increase in revenue, it dropped three spot to #17 on the 2007 FORTUNE magazine's FORTUNE 500 list (it was #13 in 2005 and #14 in 2006). The HOMEDEPOT also owns EXPO Design Center, a chain of higher-end home decorating and appliance stores. In 2006, The HOMEDEPOT acquired Hughes Supply which is to be assimilated into HD Supply serving contractors. In September 2005, HOMEDEPOT Direct launched its high-end online home-furnishings store, 10 Crescent Lane, shortly followed by the launch of Paces Trading Company, its high-end online lighting store. In mid 2006, HOMEDEPOT acquired Home Decorators Collection which was placed as an additional brand under its HOMEDEPOT Direct Division.
On January 2, 2007, HOMEDEPOT and Robert Nardelli mutually agreed on Nardelli's resignation as CEO after a six-year tenure. Nardelli resigned amid complaints over his heavy handed management and whether his pay package of $123.7 million, excluding stock option grants, over the past 5 years was excessive considering the stock's poor performance versus its competitor Lowe's. His golden parachute severance package of $210 million has also been criticized because when the stock went down his pay went up.[3] [4] His successor is Frank Blake, who previously served as the company's vice chairman of the board and executive vice president. Shareholders expressed relief at Nardelli's departure but doubt whether the incoming CEO Frank Blake can run a retail business as large as HOMEDEPOT.[4] [5]
Board of directors
homedepot
the homedepot
homedepot homepage
homedepot canada
women of homedepot
homedepot coupons
homedepot coupon
homedepot online
homedepot appliances
homedepot stores
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