The Home Depot, Inc. OverviewWhen the housing market boomed, so did construction companies and building material suppliers. Every aspect of construction had an increase in demand from development companies looking for a large supply of building materials, and from a large consumer group of new homeowners. As a result, a company such as The Home Depot was able to capitalize from the success of the construction and home improvement markets. Unfortunately, due to the current economic challenges, the current financial and associate information for the company differs from that of its successful period. However, evaluating the Home Depot's current market condition and recognizing government regulations that may affect the industry will present possible solutions to issues and identify present opportunities faced by the company.
The Home Depot, Inc., which was founded in 1978, is the world's largest home improvement store that operates 2,274 stores throughout North America, Puerto Rico, Mexico, China, and Canada.
English: The Home Depot in Knightdale, North Carol...
English: The Home Depot at the North Pointe Shoppi...
English: Overview of Home Depot store "Centro" loc...The company is the second largest retailer in the United States following Wal-Mart, and has approximately 300,000 employees as of the last quarter in 2008 (The Home Depot, Inc., 2009). The company supplies almost 45,000 items which are not limited to but include: lumber, floor and wall coverings, tools, paint, appliances, fixtures and almost every necessary item for home improvement. The company marketed itself to the large do-it-yourself consumer group and created the slogan, "You can do it. We can help."Although The Home Depot is the leader in the home improvement market, the company is far from a monopoly because the company is an oligopolistic firm. The Home Depot's competitors are other hardware and home improvement suppliers such as True Value, Orchard Supply Hardware, and ACE Hardware. However, Lowe's poses the greatest threat for Home Depot.
It has been well established that currently the United States...