Home Depot Stock Price, News & Analysis

The Home Depot, the largest home improvement retailer, announced the addition of a new educational video series called Virtual Field Trips to its digital DIY workshops. This series will provide kids exclusive behind-the-scenes tours and insights into product creation. Launching with Bonnie Plants in October and Back to the Roots in November, these tours aim to engage young learners with creative, interactive content. Additionally, The Home Depot plans to expand its partnership with Discovery Education in spring 2021 to enhance digital resources available through Science Fair Central.

The Home Depot has appointed Edward "Ted" P. Decker as president and chief operating officer, effective October 5, 2020. Decker, a 20-year veteran, was previously executive vice president of merchandising. His new role encompasses global store operations and supply chain management. Ann-Marie Campbell has been promoted to executive vice president of U.S. stores and international operations, overseeing operations in Canada and Mexico. Jeff Kinnaird takes over as executive vice president of merchandising, while Michael Rowe becomes president of The Home Depot Canada. Richard McPhail will now lead corporate strategy.

The Home Depot has launched a Hurricane & Storm Preparedness Livestream Workshop aimed at helping communities in storm-prone areas prepare for disasters. With NOAA predicting a record number of hurricanes, this initiative will provide essential safety tips and resources. The first workshop begins on Sept. 14 and will air weekly until the end of November. The workshops, free of charge, will cover emergency supply kits, storm tracking, and safety precautions. The Home Depot Foundation has committed $4 million towards disaster relief in 2020, supporting areas affected by various natural disasters.

The Home Depot Foundation announced a $4 million increase in its disaster response commitment for 2020, aimed at supporting communities affected by Hurricane Laura. This includes an additional $500,000 for nonprofit partners actively engaged in relief efforts. The Foundation is distributing relief kits and meals in the impacted areas while mobilizing warehouses nationwide. The company has also contributed to California wildfire relief by donating supplies. The Home Depot Foundation has invested over $350 million in veteran causes since 2011.

The Home Depot, the largest home improvement retailer worldwide, announced that Craig Menear, CEO, and Ted Decker, EVP of merchandising, will present at the Goldman Sachs 27th Annual Global Retailing Virtual Conference. The event is scheduled for September 10, 2020, at 11:40 a.m. ET. The presentation will be webcast live and archived for later access at ir.homedepot.com. The Home Depot operates 2,293 stores across the U.S., Canada, and Mexico, generating $110.2 billion in sales and $11.2 billion in earnings in fiscal 2019, and employs over 400,000 associates.

The Home Depot reported $38.1 billion in sales for Q2 2020, a 23.4% increase from Q2 2019. Comparable sales rose 23.4% overall, with U.S. comparable sales increasing 25%. Net earnings were $4.3 billion or $4.02 per diluted share, marking a 26.8% increase from the prior year. The company declared a cash dividend of $1.50 per share, payable on September 17, 2020.

Home Depot has invested $1.3 billion in enhanced pay and benefits amid COVID-19, ensuring continued service and support for its associates.

The Home Depot has donated over 500,000 Kids Workshop kits to more than 100 nonprofit organizations and schools during the COVID-19 pandemic, continuing to support children despite the pause of in-store classes. The company has partnered with social media influencers to offer virtual projects and provides free kits on the first Saturday of each month. Additionally, it launched free live-streaming workshops, including the Homeowner 101 series, aimed at new homeowners. In fiscal 2019, Home Depot reported sales of $110.2 billion.

The Home Depot announced plans to open three new distribution centers in Georgia over the next 18 months, creating around 1,000 jobs in the Atlanta area. The expansion aims to meet increasing demand for flexible delivery and pick-up options for both Pro and DIY customers. Part of a larger $1.2 billion investment initiated in 2017, the new centers will enhance same-day and next-day delivery capabilities. A significant facility will be established in Locust Grove, focusing on replenishment, while additional centers will support bulk deliveries and order fulfillment.