Home Depot Stock Price, News & Analysis

The Home Depot Foundation, partnered with Community Solutions and others, has converted 60 transitional units into permanent housing for veterans in Detroit, aiming to combat veteran homelessness. The renovated facility, located at 211 Glendale, features upgraded apartments and common areas, meeting veterans' needs for sustainable housing. This initiative aligns with the city's goal to achieve a state of "functional zero" homelessness, having already reduced veteran homelessness by 50% from January 2018 to September 2022. The Foundation has invested over $400 million in veteran causes since 2011, improving over 50,000 veteran homes and facilities.

The Home Depot will increase its investment in Historically Black Colleges and Universities (HBCUs) to $4 million in 2023, focusing on community projects and career resources through its Retool Your School program. Half of this funding will enhance career opportunities for HBCU students with scholarships and externships, while the other $2 million will expand the Retool Your School Campus Improvement Grant. The program has already invested over $5.2 million in 184 HBCUs since its inception. Grants this year will support 30 campuses, with amounts ranging from $40,000 to $150,000.

The Home Depot celebrates the remarkable 36-year career of Joe Beland, an associate recognized for his artistic talent in signage. Starting in 1986 in Dallas, Texas, Joe has evolved from creating hand-painted signs to being an appliance associate in Santa Rosa, California. He played a significant role in the Sign Force team, collaborating on store signage and designs. Joe faced health challenges during the Covid-19 pandemic, losing 80% of his lung capacity but received robust support from the company. His message to others is to leverage their talents for career growth.

The Home Depot is actively supporting communities affected by recent tornadoes in the Southeast through a partnership with Habitat for Humanity, Team Rubicon, and the American Red Cross. Volunteers from Team Depot delivered nearly 1,000 disaster relief kits in Griffin, Georgia, and assisted in cleanup efforts. In Selma, Alabama, Team Rubicon and World Central Kitchen are aiding in debris removal and providing meals. In 2022, The Home Depot Foundation committed over $5.5 million to disaster response initiatives, demonstrating its ongoing commitment to disaster preparedness and recovery efforts.

The Home Depot is launching a nationwide week of service from January 16 to 20, 2023, honoring Dr. Martin Luther King Jr. The initiative aims to foster diversity, equity, and inclusion within the organization and communities. In collaboration with the Home Builders Institute and 100 Black Men of America, the week will enhance educational spaces and promote career opportunities in skilled trades. Additionally, The Home Depot Foundation is donating $10,000 to The King Center to support its community programs. This effort signifies The Home Depot's commitment to social equity and sustainable change.

The Home Depot premiered a documentary titled "Hope Builds," showcasing the impacts of natural disasters on communities and the collective effort to rebuild. The film highlights three significant disasters: Hurricane Andrew (1992), Joplin tornado (2011), and California's Camp Fire (2018), featuring insights from associates and survivors. The Home Depot has been active in disaster preparedness and recovery for over 30 years, collaborating with organizations like the American Red Cross. The documentary, directed by Jessica Dimmock, underscores The Home Depot's commitment to volunteerism and community support.

The Home Depot has launched a new app, Sidekick, designed to enhance store associates' task prioritization and productivity. Utilizing machine learning, the app identifies high-demand products and guides associates on restocking tasks. With over 99,000 hdPhones devices already rolled out, Sidekick is currently installed in more than 600 stores and will expand to all U.S. locations by the end of the 2022 fiscal year. This initiative aims to improve customer service and operational efficiency.

The Home Depot emphasizes the importance of high-efficiency toilets for water conservation, accounting for approximately 30% of household water use. Industry advancements since 2006, including the WaterSense program, have led to improved models, with some toilets now using just 0.8 gallons per flush (GPF). The Home Depot has committed to stocking only WaterSense toilets and highlights products like the Niagara Stealth Toilet and Glacier Bay Power Flush, which combine efficiency and performance. The company’s strategic actions support sustainability and consumer savings.