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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, the leading home improvement retailer, announced that Richard McPhail, CFO, will present at the J.P. Morgan 7th Annual Retail Round-Up Virtual Conference on April 15, 2021, at 1:10 p.m. ET. The event will be webcast live, with an archived version available post-event. With 2,298 stores across various locations and sales of $132.1 billion in fiscal 2020, The Home Depot employs approximately 500,000 associates. The stock is traded on NYSE as HD and is part of the Dow Jones Industrial Average.
The Home Depot partners with Habitat for Humanity to support community spring projects, donating over $200,000 in products. This initiative continues a decade-long collaboration that has seen over $24 million granted to Habitat's Repair Corps program since 2011. The first project will enhance the Female Veterans Village in Brevard County, Florida. The partnership aims to empower communities with tools and resources for local revitalization efforts. The Home Depot encourages everyone to engage in DIY projects this spring.
The Home Depot, the largest home improvement retailer globally, has launched a new range of cordless outdoor power equipment, enhancing its offerings for both DIY and professional customers. This new lineup includes products from brands like Ryobi, DeWalt, Makita, and Milwaukee, which emphasize ease of use and environmental benefits. Key products include the RYOBI 40-Volt HP Self-Propelled Mower and the DeWalt 20-Volt MAX Push Mower, among others. The equipment is designed to provide the power and runtime of gas machines without carbon emissions.
The Home Depot Foundation has committed up to $500,000 for relief efforts in response to the devastating winter storms, Uri and Viola. This brings the Foundation's total commitment for 2021 to $4.1 million, including annual grants of $3.6 million to disaster relief partners. The funds will assist with immediate needs like distributing water and essential supplies, as well as short-term recovery efforts. The Foundation collaborates with major nonprofits to address damage in affected areas, particularly in Texas, where it has established connections.
The Home Depot reported strong fourth quarter and fiscal 2020 results with sales reaching $32.3 billion, a 25.1% increase year-over-year. Net earnings rose to $2.9 billion or $2.65 per diluted share, reflecting a 16.2% increase. Fiscal 2020 sales hit $132.1 billion, up 19.9%, with comparable sales growth of 19.7%. The company announced a 10% increase in its quarterly dividend to $1.65 per share. However, due to ongoing uncertainty from the COVID-19 pandemic, The Home Depot did not provide fiscal 2021 guidance.
The Home Depot, the largest home improvement retailer globally, announced its participation in the Raymond James Virtual 42nd Annual Institutional Investors Conference. Ted Decker, president & COO, and Jeff Kinnaird, EVP of merchandising, will present on March 2, 2021, at 1:20 p.m. ET. The event will be webcast live, with an archive available until April 1, 2021. The company operates 2,296 stores across North America and reported $110.2 billion in sales and $11.2 billion in earnings for fiscal 2019. Home Depot's stock is traded on NYSE under the symbol HD.
The Home Depot, the largest home improvement retailer globally, will hold its Fourth Quarter & Fiscal 2020 Earnings Conference Call on February 23, 2021, at 9 a.m. ET. The call will be accessible via a webcast on its investor relations page, with an archived version available post-event. In fiscal 2019, the company reported sales of $110.2 billion and earnings of $11.2 billion. With 2,296 retail stores across North America and over 400,000 associates, Home Depot is a major player in the home improvement market, traded on NYSE: HD.
The Home Depot has opened a new 1.5 million square-foot distribution center in Dallas to enhance its delivery capabilities for online and store orders. This facility aims to improve customer service by offering same-day and next-day delivery to 90% of the U.S. The new center will create approximately 1,500 new jobs and features advanced automation technology and a zero-emission hydrogen fuel cell charging station. This opening is part of a larger $1.2 billion investment to expand their distribution network in the Dallas-Fort Worth area, increasing the total footprint to 4.5 million square feet.
The Home Depot has partnered with Allstate to introduce a new extended protection plan for various products, including appliances and power tools. This plan boasts industry-leading benefits such as a service guarantee within three days, shorter appointment windows, and advanced troubleshooting capabilities. The program aims to enhance customer confidence and satisfaction by ensuring fast and reliable service. Home Depot reported sales of $110.2 billion and earnings of $11.2 billion in fiscal 2019, emphasizing its position as a leader in the home improvement sector.