The Home Depot

Bernie Marcus and Arthur Blank founded The Home Depot as a one-stop megastore for home improvement products with affordable prices and knowledgeable staff.

On June 22, 1979, the first two Home Depot stores opened in metro Atlanta, specifically in Doraville and Decatur. These stores were built in spaces leased from J. C. Penney and were originally Treasure Island 'hypermarket' stores.

In 1980, four more Home Depot stores were opened in the Atlanta area following the success of the first two stores. The performance of the initial stores exceeded expectations, leading to further expansion.

On September 22, 1981, The Home Depot went public on the NASDAQ, raising $4.093 million. This move marked a significant milestone in the company's financial history.

In 1982, Home Depot expanded beyond Atlanta to Florida by adding two more stores. This expansion was made possible by the funds raised after going public.

On April 19, 1984, Home Depot joined the New York Stock Exchange after earning $100 million in revenue across all its stores. This move signified the company's growth and success.

On October 31, 1984, The Home Depot acquired Bowater Home Center from Bowater Inc. for $40 million as part of its strategic expansion plans, particularly in the Dallas market.

In 1986, The Home Depot faced financial difficulties with earnings falling by 42% and debt rising to $200 million. To address this, the company opened only 10 stores and restructured its debts through a stock offering.

By the end of the 1980s, Home Depot surpassed Lowe's to become the largest home improvement retailer in the United States after restructuring its debts and expanding strategically.

The Home Depot was established in 1990 to provide customers with products, services, and knowledge for creating their dream homes.

In 1991, The Home Depot launched the EXPO installation program for quality home improvement items like windows and carpets, which proved to be successful in redefining its marketplace.

In 1992, Home Depot dedicated $12.5 million towards community service initiatives, focusing on supporting affordable housing, environmental causes, and at-risk youth. This move reflected the company's commitment to social responsibility.

Since 1993, the 'Team Depot' program by The Home Depot has provided grants to veteran-based organizations and involved workers from local stores in volunteer work to benefit veterans.

In 1994, The Home Depot acquired the Canadian hardware chain Aikenhead's Hardware for $150 million, converting all its stores to The Home Depot stores and expanding its presence in Canada.

In 1995, The Home Depot published the 480-page book 'Home Improvement 1-2-3', offering comprehensive guidance on DIY projects and further establishing its authority in the home improvement industry.

The Home Depot purchased Maintenance Warehouse, a company specializing in maintenance and repair supplies, for $245 million in 1997.

The Home Depot acquired Apex Supply, a wholesale distributor of plumbing, HVAC, and industrial supplies, in 1999.

In 2000, former General Electric executive Robert Nardelli became the CEO and president of The Home Depot, bringing his leadership and management expertise to the company.

The Home Depot acquired Your Other Warehouse, a plumbing distributor focused on special order fulfillment, in 2001.

In 2002, The Home Depot made a strategic move by expanding its operations into Mexico through the acquisition of Del Norte.

Bob Nardelli, the CEO of The Home Depot at the time, hosted a garden reception/fundraiser for U.S. President George W. Bush at his Atlanta home on May 20, 2004.

In December 2006, The Home Depot acquired The Home Way, a Chinese home improvement retailer, establishing its presence in China.

In 2007, The Home Depot introduced a label on nearly 3,000 products promoting energy conservation, sustainable forestry, and clean water, demonstrating their commitment to sustainability business practices.

The Home Depot settled the whistleblower lawsuit in a stipulation of settlement dated March 28, 2008, agreeing to pay $6 million in cash and $8.5 million in common stock.

In 2009, The Home Depot ended its sponsorship program for the United States Olympic team.

In 2010, The Home Depot achieved significant milestones in its journey of providing customers with home improvement solutions.

In April 2011, Home Depot shut its last Beijing store, marking the closure of the fifth Home Depot store in China in the previous two years.

HDX, a low-cost brand, was introduced in February 2012, replacing the Workforce brand. The quality of products sold under the brand has received negative reviews from Consumer Reports in 2017.

In September 2012, Home Depot agreed to pay $100,000 and provide other relief to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission. The case involved the alleged failure to accommodate a cashier with cancer at a Maryland store.

In 2013, The Home Depot committed $30 million over three years to address housing issues faced by military veterans.

In August 2014, Frank Blake announced his resignation as CEO of The Home Depot, with Craig Menear taking over on November 1, 2014. Menear had been with the company since 1997, holding various management positions before becoming CEO.

On July 22, 2015, Home Depot acquired Interline Brands for $1.6 billion. The integration was completed in August 2016, with Interline Brands becoming part of The Home Depot.

In January 2016, Ann-Marie Campbell replaced Marc Powers as the head of Home Depot's US stores division, effective February 1, 2016.

On July 6, 2017, The Home Depot acquired Compact Power Equipment Inc., a company providing power equipment rental services.

On December 5, 2019, The Home Depot announced its new slogan 'How Doers Get More Done', replacing the previous slogan 'More saving. More doing.'

On February 25, 2020, Home Depot reported stronger-than-expected fourth quarter earnings, with earnings per share at $2.28 and group sales at $25.8 billion. The company's same-store sales exceeded forecasts for the holiday period.

In the third quarter of 2020, ending on November 1, Home Depot reported a revenue of $33.5 billion, showing a year-on-year increase of 24%.

For the twelve months ending on December 31, 2020, Home Depot reported Total CO2e emissions at 1,821 Kt, showing a decline from the previous year.

In April 2021, black faith leaders in Georgia called for a nationwide boycott of The Home Depot due to the company's lack of stance against the Election Integrity Act of 2021.

In January 2022, Craig Menear announced his resignation as CEO of The Home Depot, effective March 1, 2022. He continued to serve as the chairman of the board, with Ted Decker taking over as CEO.

In February 2023, Home Depot revealed plans to invest $1 billion to increase hourly employee wages. This move aimed to enhance employee satisfaction and retention.