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Home Depot

Home Depot, Lowe’s Report Sinking Profits

Published on November 18, 2008 at 12:53:06 EST

The home improvement sector - one of the first to feel the bite of the downturned economy - continues to suffer from lower demand for home products as consumer spending nears a freeze, writes MarketWatch.

Home Depot, the biggest home improvement retailer, reported a 31% drop in third-quarter net income, from $1.09 billion ($0.60/share) in 3Q07 to $756 million ($0.45/share). Overall, sales fell...
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State of U.S. Same Store Sales - October 2008 Data Update

Published on November 17, 2008 at 07:44:07 EST

RetailerDaily has compiled comparable store sale data from the SEC filings of ten major U.S. retailers spanning 2007 and 2008 up to the most recently released October numbers. The data excludes fuel sales (which would have distorted numbers because of high gas inflation in 2008) and is available in Excel format from the link below:

comparable store sale data - free Excel download

Among the highlights this year, Wal-Mart shows more...
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August Website Traffic: Home Depot Up, Dell Down

Published on October 13, 2008 at 15:19:34 EST

The number of unique visitors to The Home Depot’s website in August increased 24% from Aug. ‘07, but traffic to Dell fell 12% in the same period, according to Nielsen Online data published by Internet Retailer.

Online DVD service Netflix’s unique-visitor numbers increase 19%, and traffic to the websites of consumer electronics retailers Circuit City and Best Buy also went up, 17% and 15%,...
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Home Depot Purchasing Goes Local

Published on October 08, 2008 at 12:23:36 EST

Home Depot has decentralized its purchasing system to put local customer preferences over national uniformity, reports The Wall Street Journal.

Early last year, Frank Blake took control of the company and decentralized the purchasing system after he noticed a row of unsold riding lawn mowers outside of a store in Arizona, where lush lawns are uncommon.

The previous system, put in place in 2001...
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‘EBay’ and ‘Webkinz’ Top Most-Searched Lists

Published on October 01, 2008 at 12:37:12 EST

Nearly 17 million searches were conducted for the term “ebay” in August, according to data from 58 representative search engines tracked by Nielsen Online, writes Internet Retailer.

Discount retailers “walmart” and “target” trailed, with about 4.5 million and 2.9 million searches, respectively.

Top 10 Retailer Searches

1. ebay, 16,917,000
2. walmart, 4,487,000
3. target, 2,855,000
4. home...
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Home Depot Helps Hurricane-Stricken Areas

Published on September 03, 2008 at 14:02:29 EST

The Home Depot has joined the ranks of home product retailers that are pledging money to the hurricane relief and preparation efforts on the Gulf Coast.

The funds, sent directly to the American Red Cross, are designated not only for Hurricane Gustav’s aftermath but also impending storms Hanna, Ike, and Josephine throughout the Southeastern US.

Some 650 Home Depot associates received financial...
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Advertisement

Home Depot Inks Credit Card Deal with Citigroup

Published on August 29, 2008 at 12:14:56 EST

A new credit card agreement with Citigroup will help Home Depot stabilize and lower fixed costs from its credit card portfolio, reports the Atlanta Journal-Constitution.

The portfolio consists of a private-label credit card - used for about 30% of all Home Depot sales - and Home Depot-branded MasterCard, a points-based, no-fee, loyalty credit card.

The business was costing Home Depot several...
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Best Buy Tops List of Tech E-Retailers in July

Published on August 26, 2008 at 00:02:19 EST

Traffic to BestBuy.com approached 14 million in July as it topped the list for multi-category computers and electronics shopping destinations, according to Nielsen Online (via Internet Retailer).

Gamestop.com, however, had the highest growth rate (70%), leaping to 3.24 million unique visitors from last year’s 1.9 million. NewEgg.com followed, with a 58% growth rate from July ‘07.

Below, the...
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Home Depot Q2 Profit Falls 24%, Target Also Down

Published on August 19, 2008 at 15:05:42 EST

Though Home Depot beat second-quarter estimates due to cost-cutting and consumer interest in spring projects, sales declined (-5%) for the eighth straight quarter, Reuters reports. Net earnings plummeted 24% to $1.2 billion.

Same-store sales fell 7.9% and the average purchase dipped to $57.58 (-1.2%).The largest home improvement retailer still expects per-share profit to fall about 24% this year...
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Top 100 Retailers List Announced

Published on July 03, 2008 at 15:12:17 EST

Technology and entertainment companies were common newcomers to STORES magazine’s Top 100 Retailers list, as Apple Stores/iTunes (#52), Dell Retail (#56), Verizon Wireless (#61), and AT&T Wireless (#81) made their debut, the NRF said.

The annual list ranks companies by revenue in one grouping regardless of the segment or segments in which they operate.

Wal-Mart held its No. 1 position - where...
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