The Home Depot
- The Home Depot is the world's largest home improvement retailer.
- The company operates more than 2,300 stores across the U.S., Canada and Mexico,
The Home Depot (NYSE:HD, LSE: 0R1G) is the world's largest home improvement retailer with approximately 500,000 associates and more than 2,300 stores in the U.S., Canada and Mexico.
The Home Depot launches virtual kids workshops on roblox.
Mar 02, 2023; The Home Depot® launched a new Virtual Kids Workshop, an experience in Roblox's Redcliff City that challenges gamers to play and learn by collecting materials to build projects. The Home Depot's debut into the metaverse marks its latest investment in the future of interconnected experiences – all while introducing a whole new generation of doers to home improvement and the joy of building.
Virtual Kids Workshops are inspired by The Home Depot's in-person Kids Workshops, which offer the youngest generation of DIYers a hands-on learning experience that sparks creativity, promotes problem solving and encourages social interaction.
The Home Depot launches new in-store application to help associates provide better customer experience.
Jan 12, 2023; The Home Depot® is rolling out a new, homegrown app developed to help store associates prioritize tasks more effectively. The app, dubbed Sidekick, is a new addition to hdPhones, The Home Depot's mobile devices dedicated to improving the associate and customer experience. Powered by machine learning (ML), the app guides associates to prioritize the highest demand product, which shelf to restock, and the location of the excess product on overhead shelves.
The company reported net sales of $157.4 billion in fiscal 2022. Net earnings were $17.1 billion, or $16.69 per diluted share. During fiscal 2022, the company opened two new stores in the U.S. and four new stores in Mexico, and the company lost one store in the U.S. due to a fire, resulting in a total store count of 2,322 at January 29, 2023. At the end of fiscal 2022, a total of 315 of its stores, or 13.6% of its total store count, were located in Canada and Mexico. Total sales per retail square foot were $627.17 in fiscal 2022. The company's inventory turnover ratio was 4.2 times at the end of fiscal 2022, compared to 5.2 times at the end of fiscal 2021.
The company generated $14.6 billion of cash flow from operations and issued $6.9 billion of long-term debt, net of discounts, during fiscal 2022. This cash flow, together with cash on hand, was used to fund cash payments of $7.8 billion for dividends and $6.7 billion for share repurchases. In addition, the company repaid $2.5 billion of long-term debt and $1.0 billion of net short-term debt and funded $3.1 billion in capital expenditures during fiscal 2022. In February 2023, the company announced a 10% increase in its quarterly cash dividend to $2.09 per share.
Net sales for fiscal 2022 increased $6.2 billion, or 4.1%, to $157.4 billion. Gross profit increased $1.9 billion, or 3.8%, to $52.8 billion in fiscal 2022. Gross profit as a percent of net sales, or gross profit margin, was 33.5% in fiscal 2022 compared to 33.6% in fiscal 2021.
SG&A increased $878 million, or 3.5%, to $26.3 billion in fiscal 2022. As a percent of net sales, SG&A was 16.7% in fiscal 2022 compared to 16.8% in fiscal 2021. Depreciation and amortization increased $69 million, or 2.9%, to $2.5 billion in fiscal 2022. Interest and other, net increased $259 million, or 19.9%, to $1.6 billion in fiscal 2022. As a percent of net sales.
Diluted earnings per share were $16.69 in fiscal 2022 compared to $15.53 in fiscal 2021. The increase in diluted earnings per share for fiscal 2022 was primarily driven by higher net earnings during fiscal 2022, as well as lower diluted shares due to share repurchases. At January 29, 2023, the company had $2.8 billion in cash and cash equivalents, of which $825 million was held by its foreign subsidiaries.
The Home Depot, Inc. is the world’s largest home improvement retailer. The company offer assortment of building materials, home improvement products, lawn and garden products, décor products, and facilities maintenance, repair and operations products. The company also provide a number of services, including home improvement installation services and tool and equipment rental. As of the end of fiscal 2022, the company operated 2,322 stores located throughout the U.S. (including the Commonwealth of Puerto Rico and the territories of the U.S. Virgin Islands and Guam), Canada, and Mexico. The Home Depot stores average approximately 104,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. The company also maintain a network of distribution and fulfillment centers, as well as a number of e-commerce websites in the U.S., Canada and Mexico.
Products and Services
The Home Depot store stocks approximately 30,000 to 40,000 items during the year, including both national brand name and proprietary products. The company's online product offerings complement its stores by serving as an extended aisle, and the company offer a significantly broader product assortment through its websites and mobile applications, including homedepot.com, its primary website; homedepot.ca and homedepot.com.mx, its websites in Canada and Mexico; hdsupply.com, its website for its MRO products and related services; blinds.com, its online site for custom window coverings; and thecompanystore.com, its online site featuring textiles and décor products.
North American Presence
The Home Depot is the world's largest home improvement retailer with approximately 500,000 associates and more than 2,300 stores in the U.S., Canada and Mexico.
|District of Columbia||1||Missouri||34||Tennessee||39|
|Hawaii||7||New Hampshire||20||Virgin Islands||2|
|Indiana||24||New York||101||West Virginia||6|
|British Columbia||26||Baja California||6||Nuevo León||13|
|Manitoba||6||Baja California Sur||2||Oaxaca||1|
|Nova Scotia||4||Chihuahua||6||Quintana Roo||3|
|Ontario||88||Coahuila||5||San Luis Potosí||2|
|Prince Edward Island||1||Colima||2||Sinaloa||5|
|Saskatchewan||4||Durango||2||State of Mexico||16|
Bernie Marcus and Arthur Blank dreamed up The Home Depot from a coffee shop in Los Angeles in 1978. And opened the first two Home Depot stores in Atlanta the following year.
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