Welcome to our dedicated page for Home Depot news (Ticker: HD), a resource for investors and traders seeking the latest updates and insights on Home Depot stock.
The Home Depot, Inc. (NYSE: HD) is a leading American multinational home improvement retailer. Founded in 1978, it has grown to become the largest home improvement specialty retailer in the world. The company operates more than 2,300 warehouse-format stores across the United States, Canada, and Mexico, offering a vast array of products that range from tools and construction materials to appliances and services, including fuel and transportation rentals.
Home Depot's stores provide customers with more than 30,000 products in-store and over 1 million products online. Its extensive product line caters to both DIY enthusiasts and professional contractors, featuring building materials, home improvement products, lawn and garden products, and decor items. The company also offers various services such as home improvement installations and tool and equipment rentals.
In 2015, Home Depot acquired Interline Brands, marking its entry into the maintenance, repair, and operations (MRO) business, which was further expanded with the acquisition of HD Supply in 2020. Additionally, the acquisition of The Company Store provided a foothold in the textile market, while Redi Carpet added multifamily flooring to its portfolio.
Despite a modest sales decline in 2023 following three years of significant growth, Home Depot continues to invest in its business operations. The company reported fiscal 2023 sales of $152.7 billion, a 3% decrease from fiscal 2022. Net earnings for fiscal 2023 stood at $15.1 billion, down from $17.1 billion in the previous year. In response, Home Depot has implemented several initiatives to enhance its business, including the creation of interconnected retail experiences and the expansion of its store network.
Home Depot recently announced a 7.7% increase in its quarterly dividend, highlighting its strong financial health and commitment to returning value to shareholders. The company also continues to strengthen its community engagement through initiatives like The Homer Fund, which has granted over $250 million to associates in need since 1999.
In terms of recent developments, Home Depot has entered into a definitive agreement to acquire SRS Distribution Inc., a leader in residential specialty trade distribution. This acquisition is expected to enhance Home Depot's capabilities in serving professional customers, adding significant value and expanding its market presence.
Furthermore, The Home Depot is actively involved in collegiate sports, having recently become an official corporate partner of the NCAA. The partnership includes rights across all 90 NCAA championships, aligning with Home Depot's busiest selling season and enhancing its engagement with sports fans and customers alike.
Home Depot is also committed to sustainability and community support, with initiatives like organic gardening products, native plants, and disaster relief efforts through The Home Depot Foundation. The company's Retool Your School program provides grants to Historically Black Colleges and Universities (HBCUs) for campus enhancements, further showcasing its dedication to community development.
The Home Depot Foundation has committed up to $2 million for immediate disaster relief in communities affected by Hurricane Helene. The Foundation is working with various nonprofit partners to provide essential support:
- Convoy of Hope and Operation Blessing are distributing food, water, and supplies.
- World Central Kitchen is providing meals in Florida, Georgia, and North Carolina.
- American Red Cross has opened shelters for over 9,000 people.
- Team Rubicon and Inspiritus are conducting damage assessments.
- ToolBank Disaster Services is supplying tools for cleanup efforts.
Team Depot, The Home Depot's volunteer force, is donating supplies and will assist in cleanup efforts across affected states. The Homer Fund is providing financial support to impacted Home Depot associates.
The Home Depot Foundation has announced over $2 million in new grants to address the skilled labor gap in the United States. This initiative comes as the construction industry faces more than 400,000 open jobs in fields like carpentry, plumbing, electrical, and HVAC, with projections showing growth to 3.9 million open jobs in the next decade.
Key components of this initiative include:
- A partnership with 100 Black Men of America, Inc. and Home Builders Institute (HBI) to provide skilled trades training and career opportunities for youth, with $500,000 in additional funding.
- A $710,000 grant to HBI for training programs targeting separating service members and youth.
- Over $1 million invested in scholarships for trades education through SkillPointe Foundation and Folds of Honor.
These efforts aim to support the next generation of skilled tradespeople and address the growing demand in the home improvement sector.
The Home Depot (HD) has achieved a significant milestone in eliminating harmful packaging materials. The company has removed expanded polystyrene (EPS) foam and polyvinyl chloride (PVC) film from new packaging for its private-brand products in the U.S., Canada, and online. In 2023 alone, HD eliminated 6.0 million cubic feet of EPS and 39 million square feet of PVC film from its packaging.
The company has set a new goal for all new private-brand fiber packaging to be compostable, recyclable, or made from recycled content across U.S. and Canada stores by fiscal 2027. This initiative is part of HD's broader sustainability strategy, which aims to create long-term success for associates, customers, communities, and shareholders while promoting operational efficiencies and minimizing waste.
The Home Depot Foundation, in partnership with Jared Allen's Homes for Wounded Warriors, has provided U.S. Army Sergeant Anesi "Maverick" Tu'ufuli with a new, specially adapted home. Sgt. Tu'ufuli, severely wounded in Iraq in 2005, spends about 50% of his time in a wheelchair. The Foundation also worked with The Home Depot Home to fully furnish and decorate the house to meet his individual needs.
This initiative is part of The Home Depot Foundation's commitment to veteran causes. Since 2011, the Foundation has invested $500 million in veteran causes and helped renovate over 60,000 veteran homes and facilities. The company's dedication to veterans is personal, as many of its associates are veterans or military spouses.
Pentaleap Inc. and Orange Apron Media have partnered to enhance The Home Depot's retail media network. This collaboration aims to provide a superior shopping experience and improved Return on Ad Spend (ROAS) for advertisers. By integrating Pentaleap's platform into its sponsored products strategy, The Home Depot now delivers more relevant ads that align closely with shopper needs during the home improvement journey.
The partnership leverages Pentaleap's Fluid Relevancy Engine, which dynamically positions ads to the right customers at the right time. Advertisers have already observed a notable uptick in ROAS. The Home Depot operates 2,340 retail stores and over 760 branches across various locations, employing over 465,000 associates. This collaboration is expected to further differentiate Orange Apron Media's retail media network in the competitive home improvement market.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced that Ted Decker, chair, president and CEO, and Billy Bastek, executive vice president of merchandising, will present at the Goldman Sachs 31st Annual Global Retailing Conference. The presentation is scheduled for September 4, 2024, at 9:35 a.m. ET and will be webcast live on The Home Depot's investor relations website.
The webcast will be archived and available approximately one hour after the live event concludes. As of the second quarter, The Home Depot operates 2,340 retail stores and over 760 branches across the United States, Canada, and Mexico, employing more than 465,000 associates. The company's stock is traded on the NYSE and is included in the Dow Jones industrial average and S&P 500 index.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced a second quarter cash dividend of $2.25 per share. This dividend will be payable on September 12, 2024, to shareholders of record as of the close of business on August 29, 2024. This marks the 150th consecutive quarter that the company has paid a cash dividend, demonstrating a consistent commitment to shareholder returns.
As of the end of the second quarter, Home Depot operated 2,340 retail stores and over 760 branches across various locations, including all 50 U.S. states, Canada, and Mexico. The company employs more than 465,000 associates and is included in both the Dow Jones Industrial Average and the S&P 500 index.
The Home Depot (NYSE: HD) reported Q2 fiscal 2024 results with sales of $43.2 billion, up 0.6% year-over-year, including $1.3 billion from the recent SRS Distribution acquisition. Comparable sales decreased 3.3% overall and 3.6% in the U.S. Operating income was $6.5 billion with a 15.1% margin. Net earnings were $4.6 billion, or $4.60 per diluted share. The company updated its fiscal 2024 guidance, projecting total sales growth between 2.5% and 3.5%, including a 53rd week, and comparable sales decline between 3% and 4%. The guidance reflects weaker consumer demand due to higher interest rates and economic uncertainty.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced its Second Quarter Earnings Conference Call scheduled for Tuesday, August 13, at 9 a.m. ET. A webcast will be available on the company's investor relations website, with a replay accessible from noon on the same day.
As of the first quarter of fiscal year 2024, The Home Depot operates 2,337 retail stores across all 50 U.S. states, various territories, Canada, and Mexico. The company employs over 465,000 associates and is included in both the Dow Jones Industrial Average and S&P 500 index.
The Home Depot is celebrating 25 years of The Homer Fund, a nonprofit that provides financial assistance to associates facing unforeseen hardships. Since its inception, the fund has awarded $267 million to 185,000 associate families for basic living expenses. This milestone reflects Home Depot's commitment to supporting its workforce, which has contributed to the company's recent recognition on Fortune's Most Admired Companies and Newsweek's Most Trusted Brands lists.
The impact of The Homer Fund is illustrated through the story of Latoya, a 22-year store associate who received support for living expenses and specialized daycare costs when her son was hospitalized. This exemplifies how the fund helps associates navigate challenging personal circumstances while maintaining their employment.
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