Mission statement

The Board of Directors of The Home Depot, Inc. is committed to maximizing long term shareholder value while supporting management in the business and operations of the Company, observing the highest ethical standards and adhering to the laws of the jurisdictions within which the Company operates.

The Home Depot is still guided today by those values established by its founders: excellent customer service, taking care of people, entrepreneurial spirit, respect for all people, building strong relationships, doing the right thing, giving back to communities, and creating shareholder value. The founders viewed the structure of the company as an inverted pyramid, with stores and customers at the top and senior management on the bottom.

Company history

The Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. Along with investment banker Ken Langone and merchandising guru Pat Farrah, the founders’ vision of one-stop shopping for the do-it-yourselfer came to fruition when they opened the first two Home Depot stores on June 22, 1979, in Atlanta, Georgia. The first stores, at around 60,000 square feet each, were cavernous warehouses that dwarfed the competition and stocked 25,000 SKUs, much more than the average hardware store at that time. Empty boxes piled high on the shelves gave the illusion of even more product.

From the start, associates were able to offer the best customer service in the industry, guiding customers through projects such as laying tile, changing a fill valve or handling a power tool. Not only did store associates undergo rigorous product knowledge training, but they also began offering clinics so customers could learn how to do it themselves. The Home Depot revolutionized the home improvement industry by bringing the know-how and the tools to the consumer and by saving them money.

According to Bernie and Arthur, the customer has a bill of rights at The Home Depot, and this entitles the customer to the right assortment, quantities and price, along with trained associates on the sales floor who want to take care of customers. Their philosophy of customer service – “whatever it takes” – means cultivating a relationship with customers rather than merely completing a transaction. As Bernie says in Built from Scratch, “At the end of the day, we’re in the people business.”

Geography and products

Headquarters: Cobb County, Georgia, USA

The Home Depot® is the world's largest home improvement specialty retailer, with more than 2,200 retail stores in the United States, Puerto Rico, the territories of the U.S. Virgin Islands and Guam, Canada, Mexico and China. As of the end of the first quarter of 2011, its 272 international operations represent 12.1 percent of its store base.

The Company is already the largest home improvement retailer in Mexico, in addition to the U.S. The Home Depot entered Canada in 1994 and Mexico in 2001 through a combination of acquisitions and organic growth. Both markets are examples of how The Home Depot combines its vast knowledge of the home improvement industry with the needs, shopping trends and customs of each unique geography to best serve customers. In December 2006, The Home Depot acquired The Home Way, China’s first “big box” home improvement retail chain.

Hi-res logo

Strapline

In March 2009, the slogan 'More Saving. More Doing.' was introduced to replace the old 'You can do it. We can help.' which had been in use since 2003.

Advertising

Sponsorships

The Home Depot is a corporate partner and sponsor to a number of sports programs.  The retailer is the primary sponsor of the #20 Home Depot Racing team and is also the title sponsor for the sixth consecutive year of “NASCAR RaceDay Built By The Home Depot,” SPEED’s weekly, live pre-race show.  Additionally, The Home Depot sponsors five MLS teams – New York Red Bulls, Los Angeles Galaxy, Seattle Sounders FC, Houston Dynamo and Chivas USA. In 2011, The Home Depot will also become the “Official Home Improvement Sponsor” of the CONCACAF Gold Cup Tournament. The sponsorships provide The Home Depot with great local and global media coverage, increasing brand awareness all over the globe.

Key people

Frank Blake - Chairman and CEO

Matt Carey - CIO and Executive Vice President

Carol Tome - CFO and Executive Vice President - Corporate Services