Home Depot Watch

Nardelli Resigns as Home Depot CEO

The Home Depot board of directors announced today that Robert Nardelli resigned as CEO and Chariman as of January 2, 2007.  Effective immediately, Frank Blake, Home Depot EVP and vice chairman of the board of directors, will replace him.

Here's the partyline from the company issued press release:

The Home Depot's Board said, "We are very grateful to Bob for his strong leadership of The Home Depot over the past six years. Under Bob's tenure, the Company made significant and necessary investments that greatly improved the Company's infrastructure and operations, expanded our markets to include wholesale distribution and new geographies, and undertook key strategic initiatives to strengthen the company's foundation for the future. The Home Depot has delivered strong and consistent growth and gained market share under Bob's leadership, and we believe that the Company is well positioned to continue to do so. We thank Bob for his contributions, hard work and dedication and wish him all the best in his future endeavors."

You can read about his $210 million severance package at Bloomberg.com.

Where Did All the Service Go?

Jeff Matthews breaks down last week's Home Depot earnings call with a great customer service (or lack thereof) angle.

Home Depot Folds Catalogs

DMNews reports that Home Depot is folding its 10 Crescent Lane and Paces Trading Company catalogs.  From the article:

"As we monitored the progress of [Home Depot's] direct business, it became apparent that Homedepot.com and Home Depot Direct catalogs were drawing the most traffic," said Jean Osta Niemi, a Home Depot representative.

As a result, the merchandise in 10 Crescent Lane and Paces Trading Company is now available at the company's flagship Web site at www.homedepot.com, and will be featured in the Home Depot Direct catalogs as well. The two brands will continue to exist online, Ms. Osta Niemi said.

Read the full article at DMNews.

Mass Depots Go "Extreme Home"

Forty employees from Home Depots in Chicopee, West Springfield and Westfield Mass descended upon the Abner Gibbs Elementary School in Westfield last month to volunteer their time for repairs and landscaping work.

"the group completed some work at the school that was started by parent volunteers, such as spreading mulch under and around playground equipment, repairing the school lawn, which included removal of dead bushes, and painting hallway walls primarily in the basement, where the school library and media center are located. In addition, bulletin boards and cabinets were made and installed during the one-day labor fest."

Read the full story at MassLive.com.

Depot Thief Sentenced

Jorge Galarza Castillo, a California resident who stole $13,055 from Home Depot in an illegal store credit scam, was sentenced to five months in prison in Orlando's federal court yesterday.

Galarza, who is thought to be 58, had pleaded guilty to one count of possession of five or more false identities with the intent to use them illegally. He was arrested in October at Home Depot in St. Cloud after Osceola County deputy sheriffs recovered 46 false identification cards in Galarza's van and store items including sinks, faucets and electrical equipment.

(via Orlando Sentinel)

Depot to Sell Ads On Website

Adweek is reporting that Home Depot will begin selling advertising on its website.  Their site has 4 million visitors each week and they have more than 6 million subscribers to various electronic newsletters.

The ads will lead to advertiser-branded sites that include interactive demos, video and product content.

"Our goal is to allow a few key vendor partners the opportunity to educate millions of home improvement consumers about their distinctive and innovative products," said Harvey Seegers, president of Home Depot Direct, in a statement.

Read the full article. More coverage on Marketing Vox.

Same-Store Sales Back in the Cards?

Last week on CNBC, Nardelli indicated that Home Depot may resume reporting same-store sales. Any announcement would be made in the quarterly financial report. More details at Reuters.

Depot Executive Stepping Down

Home Depot's Executive Vice President of Merchandising and Marketing, Tom Taylor is leaving the company at the end of this year. The 23 year Depot veteran will help in the selection of his replacement and he plans to sign a long-term consulting deal after leaving. Read the full story at the Atlanta Business Chronicle.

Depot Volunteers Build Playground

The Kettering-Oakwood Times (OH) reports that volunteers from the Home Depot and South YMCA built a new playground in just one day.

The playground was funded in part by a $47,200 grant from Home Depot; additionally, over 150 local Home Depot associates volunteered.

Read the article.

Wake Me When It's Over

Another story about one resident in a town of over 22,000 who is not happy about a proposed Home Depot joining the neighborhood.

As is typical, highlights include:

traffic

economic impact

trucks

Someone please wake me for the grand opening.

July 5, 2006 in news | Permalink | Comments (0) | TrackBack (0)

June 30, 2006

Office Depot Exec Joins Home Depot

Mark Holifield, for vice president of supply chain management for Office Depot, has been hired by Home Depot as its senior vice president of its Supply Chain division.

Holifield will join the company in mid-July.

June 30, 2006 in employees, investor relations | Permalink | Comments (0) | TrackBack (0)

Shop Here, Get Gas

Atlanta television station WSB is reporting that Home Depot is going to start selling gas.  The concept is being tested in Nashville.

The idea is that contractors will stock up on their supplies and then fill up on gas and snacks before hitting the road.

More details about future plans and the current test can be found at carwash.com.

June 30, 2006 in news, products | Permalink | Comments (0) | TrackBack (0)

Pension Plan Demands Answers

At last month's Home Depot annual meeting, Chairman and CEO Robert Nardelli was the only board member in attendence.

The AFSCME pension plan has sent a demand letter to Home Depot seeking to make public all books, records and internal documents related to the board's decision not to appear.

"The board of directors at Home Depot abdicated their responsibility and in doing so, they ducked a basic accountability obligation to company shareholders. The real question is, what are they trying to hide?" said Gerald McEntee, chairman of the AFSCME pension plan.

Read the full article at CFO.com.

June 30, 2006 in investor relations | Permalink | Comments (0) | TrackBack (0)

Vets get 10% at Home Depot for Holiday

BuildingOnline is reporting that all active duty personnel, reservists, retired military, veterans and their families will receive a 10% discount at Home Depot from June29 through July 4, 2006.  To qualify, you must present proof of military service.

June 30, 2006 in customer service | Permalink | Comments (0) | TrackBack (0)