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 will host its inaugural virtual Corporate Career Day on November 30, from 1 to 4:30 p.m. ET, aiming to recruit for various roles within Technology, Marketing, Operations, and Contact Centers. Jobseekers will have access to leader discussions on retail technology, product, and company culture, along with networking opportunities in virtual booths. The company emphasizes its commitment to fostering a supportive culture, offering significant benefits, including over $1 billion in Success Sharing awards distributed in the last three years.
The Home Depot reported a robust third quarter for fiscal 2021, achieving sales of $36.8 billion, a 9.8% increase year-over-year. Comparable sales rose by 6.1%, with a 5.5% increase in U.S. stores. Net earnings reached $4.1 billion, or $3.92 per diluted share, marking a 23.3% rise from the previous year. The company operates 2,317 stores and employs around 500,000 associates. CEO Craig Menear attributed the success to operational agility in meeting ongoing home improvement demand.
The Home Depot Foundation has surpassed $400 million in investments to support U.S. military veterans since 2011. The Foundation aims to reach $500 million by 2025, primarily focusing on housing initiatives. It has improved over 50,000 veteran homes and facilities and aims to end veteran homelessness. The Foundation's Operation Surprise campaign will launch with critical home repairs for veterans. Since 2011, Team Depot has volunteered over 1.25 million hours. Home Depot employs about 500,000 associates and is traded under the symbol HD.
The Home Depot will hold its Third Quarter Earnings Conference Call on November 16 at 9 a.m. ET. The event can be accessed via webcast on the company's investor relations website, with an archive available later in the day. As of the second quarter, The Home Depot operates 2,298 stores across North America, employing about 500,000 associates. In fiscal 2020, the company achieved sales of $132.1 billion and earnings of $12.9 billion. The stock is listed on the NYSE under the symbol HD.
The Home Depot has appointed John Deaton as the new executive vice president of Supply Chain and Product Development, effective November 1, 2021. Deaton, a 14-year veteran of the company, replaces Mark Holifield, who has moved on to lead a last-mile delivery firm. His extensive experience includes overseeing the rollout of 19 Rapid Deployment Centers and leading the transformation of private brand portfolios, contributing significantly to the company’s supply chain advancements.
The Home Depot partners with Walmart to enhance delivery services, launching same-day and next-day delivery for home improvement products via Walmart GoLocal. The collaboration aims to enable delivery to 90% of the U.S. population, with plans to expand across multiple markets by year-end. In fiscal 2020, The Home Depot reported digital sales growth of 86%, with total sales reaching
Ring has launched Ring Jobsite Security, a customized security solution for job sites, in collaboration with The Home Depot. This system features the Ring Alarm Pro, which offers professional monitoring and connectivity for security devices. Available exclusively through Home Depot, the solution includes various add-ons such as security cameras and sensors, allowing job site managers to tailor their security setup. The introductory price for the 5-Piece Plus Kit starts at
The Home Depot Foundation has pledged up to $1 million for disaster relief and recovery efforts in Hurricane Ida-affected areas, raising its 2021 contributions to over $6 million. The Foundation's Team Depot plans to assemble more than 1,000 disaster relief kits with essential supplies. The company activated its disaster response teams, sending hundreds of trucks loaded with crucial items to affected communities. Additionally, the Homer Fund has distributed nearly $272,000 in emergency assistance to over 400 associates impacted by the hurricane.
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