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| The Home Depot expects to become Number One for expansion into China The Home Depot(R), the world's largest home improvement retailer, announced a range of new initiatives for 2006. Chairman, President & CEO Bob Nardelli and members of the company's leadership team described in detail their 2005 accomplishments, the company's plans for the coming fiscal year and the company's growth vision for 2010. "Over the next five years, The Home Depot expects to maintain and grow its leadership position in home improvement retail worldwide, " said Nardelli. "At the same time, we expect to become the nation's largest diversified wholesale distributor, become number one in services and will dramatically increase our direct-to-consumer channels. Our 2006 initiatives demonstrate that we are well on our way to accomplishing our 2010 goals." The company's 2010 targets include: annual sales growth of 9-12 percent, earnings per share growth of 10-14 percent, 400-500 new store openings and an aggressive growth trajectory for Home Depot Supply. New initiatives in 2006 include: - The launch of the broadest, most commanding tractor selection under one roof - Continued proprietary and exclusive brand leadership - New product resets, including a new Countertop Solutions Center and new tool and millwork corrals - Expansion of the home organization and storage category - Increased lighting assortment in stores - Four convenience store openings in the first half of 2006, with the possibility of 300 by 2010 Founded in 1978, The Home Depot(R) is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2004 sales of $73.1 billion. The company employs approximately 345, 000 associates and has 2, 028 stores in all 50 states, the District of Columbia, Puerto Rico, 10 Canadian provinces and Mexico. The company has announced plans for retail expansion into China. The Home Depot has been recognized by Fortune magazine as the No. 1 Most Admired Specialty Retailer for 2005. write your comments about the article :: © 2006 Construction News :: home page |