“We are poised for dramatic growth over the next five years across our business,” said Bob Nardelli, chairman, president & CEO, in a statement. “Our planned acquisition of Hughes Supply is a great example of how we are rapidly replicating in the professional market the same type of transformation that we brought to the home improvement retail market.”
The Home Depot: The Largest Wholesaler?
February 10, 2006
The Home Depot® unveiled its growth targets for 2010 at its annual meeting with the investment community in January. The company said it has targeted annual sales growth of 9 to 12%, driven by 400 to 500 new store openings over the next five years and by significant growth in its services business and Home Depot Supply. By the end of the decade, Home Depot Supply plans to operate more than 1,500 locations, covering all 50 states, becoming the largest diversified wholesale distribution business in the United States. By 2010, Home Depot Supply will generate 18 to 19% of overall sales.