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Home Depot, The
Our History
The Beginning 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."
The Home Depot Values 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. Arthur demanded that associates take risks to succeed, saying, "It is your business, your division, your market, your store, your aisle and your customer."
A Story of Growth The Home Depot is the fastest growing retailer in U.S. history. In 1981, the company went public on NASDAQ and moved to the New York Stock Exchange in 1984. The 1980s and 1990s spawned tremendous growth for the company, with 1989 marking the celebration of its 100th store opening. The company arrived in Canada with the acquisition of Aikenhead's home improvement centers in 1994, and it began flying its flag proudly in Mexico in 2001 through the acquisition of Total HOME. In 2006, the company extended its reach to China by acquiring The Home Way, a 12 store chain.
From the beginning, The Home Depot developed strategic product alliances directly with industry-leading manufacturers to deliver the most exclusive assortments to customers. Through a combination of national brands and proprietary products like Ryobi tools, RIDGID tools, BEHR paint, LG appliances, and Toro and Cub Cadet lawn equipment, the company sets the standard for innovative merchandise for the do-it-yourselfer and the professional contractor.
The Legend - The Home Depot Museum The Legend, our company museum, chronicles the history of The Home Depot and illustrates the values that set us apart. The Legend opened in 1999 at the Atlanta Store Support Center. It is primarily an internal educational tool for The Home Depot associates, their families, vendors and stockholders. The museum is open to groups on a limited basis by appointment only. Please contact us at (770) 433-8211 for more information.
We collect and archive materials from the early days of The Home Depot to the present.
Our Leadership
At The Home Depot, dedication to serving our customer and providing the ultimate shopping experience is everyone's priority. Maintaining this focus and commitment is a leadership team that believes our company values and commitment to great customer service will create value for all our stakeholders. Working in a Store Support Center, rather than a corporate headquarters, our leadership knows that the most important people in the fabric of our company are the store associates and store leadership teams.
All About Us
The Home Depot strives to be the best corporate partner possible in our communities. We make positive contributions as a neighbor, an employer, a retailer and as a profitable investment opportunity through successful and strategic operations of our company.
The Home Depot helps people fulfill their dreams by helping them:
To live in a clean, safe and caring community
To be part of a challenging, diverse, and inclusive workplace
To build and live in the house of their dreams
To create wealth and financial security
What does it mean to be the Neighbor of Choice?
For The Home Depot, being a partner to our cities and towns is of paramount importance. Our business creates jobs and opportunities for other businesses in the community. We strive to purchase locally, therefore keeping local dollars in the community. We're committed to bettering our community through local and area volunteer projects. And by offering home solutions in your neighborhood, we help consumers to fulfill their dreams of turning a house into a home.
What does it mean to be the Employer of Choice?
To be the Employer of Choice means creating an inclusive and associate-centered culture. At The Home Depot, that means providing meaningful and challenging work for our associates that creates opportunity for growth and development. We also strive to provide economic opportunities through competitive wages and exceptional benefits packages to all associates. We recognize the contributions of our associates and reward their achievements, hard-work and dedication.
What does it mean to be the Retailer of Choice?
The Home Depot provides our customers with excellent service every time they come into our stores. We offer the right products, the right selection, the right prices and a team of associates passionate about your needs. We build lasting relationships by helping customers realize their dreams and growing their trust through our products and services.
What does it mean to be the Investment of Choice?
Being an Investment of Choice means increasing economic growth through strategic marketing in stores and of products. It also means making decisions that reflect our policies surrounding social responsibility and considering the impact on our community. Being an Investment of Choice means continuing to gain on comparable store sales through innovative initiatives and growing adjacencies to meet the needs of the public to increase our economic bottom-line and our corporate reputation.
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