Content about Frank Blake

March 15, 2013

In a wide-ranging interview on CNBC, Home Depot CEO Frank Blake said he expects 2013 sales growth to be about the same as 2012.

In a wide-ranging interview on CNBC, Home Depot CEO Frank Blake said he expects 2013 sales to come in at about 3% ahead of 2012 -- about the same growth pace of 2012.

“We were pleased with 2012, and we had some great growth in 2012,” Blake said.

February 26, 2013

The world’s largest home improvement retailer posted fourth-quarter earnings in excess of $1 billion.

Playing with an extra week in its calendar, Atlanta-based Home Depot’s fourth-quarter sales increased 13.9% to $18.2 billion, as the company’s comps increased 7.1%.

The company posted net earnings of $1.0 billion in the fourth quarter, up 31.9% compared with last year’s fourth quarter. 

November 13, 2012

While pointing to sales and earnings growth in the third quarter, Home Depot CEO Frank Blake also thanked employees who continue to work in communities impacted by Hurricane Sandy in the Northeast. 

October 30, 2012

Home Depot chairman and CEO Frank Blake addressed the Virginia Commonwealth University School of Business on Oct. 25, joined by his son, Home Depot district manager Frank Blake Jr., who also serves as an adjunct professor in the School of Business' Executive M.B.A. Program. The senior Blake spoke as part of the business speaker series at the Charles G. Thalhimer Family Executive-in-Residence program.

September 14, 2012

The Home Depot will close its remaining seven big-box stores in China, the company announced late yesterday, in order to shift its focus to specialty stores and online offerings in that market.

September 6, 2012

An article in the Wall Street Journal reinforced the notions that many shoppers have always held about the nation’s leading home-improvement retailers: one caters to women, and the other prefers a gender neutral atmosphere. 

May 29, 2012

The world’s largest home improvement retailer has described its First Phone on-the-floor scanner and sales tool as a competitive advantage. Now comes the smaller version.

The mobile sales-floor device known as the Home Depot First Phone has been described as competitive advantage for the world’s largest home improvement retailer. Now comes the “First Phone Junior,” which has begun to roll out to all Home Depot stores, said Frank Blake during the company’s first-quarter earnings call. 

October 6, 2011

The Home Depot named Teresa Wynn Roseborough executive VP, general counsel and corporate secretary. She will join the company’s senior leadership team and report to Frank Blake, chairman and CEO. 

Roseborough will be responsible for leading The Home Depot’s legal department, as well as its government relations and corporate security services functions. She will assume her new role Nov. 7. 

October 6, 2011

The Home Depot named Teresa Wynn Roseborough executive VP, general counsel and corporate secretary. She will join the company’s senior leadership team and report to Frank Blake, chairman and CEO. 

Roseborough will be responsible for leading The Home Depot’s legal department, as well as its government relations and corporate security services functions. She will assume her new role Nov. 7. 

June 30, 2011

The question-and-answer session is often the most entertaining segment of a shareholders meeting. Case in point, Home Depot’s June 2 meeting brought a half hour of free-wheeling comments from the floor. Below are just some of the questions (abbreviated and paraphrased) and actual excerpts from chairman and CEO Frank Blake’s always-polite responses. 


Question: Why do you continue to sell glue traps?


Frank Blake: “One of the things we try to do is provide our customers with a number of different alternatives.” 


June 2, 2011

Customer service, glue traps and corporate democracy were among the issues on the table at a wide-ranging Home Depot annual shareholders meeting in Atlanta Thursday.

Home Depot’s shareholders approved the company's recommendations for its board of directors and executive pay structure. And it defeated a shareholder proposal regarding shareholder control of corporate political gifts.

June 2, 2011

Four Joplin, Mo., associates of a Home Depot store destroyed by a tornado May 22 were flown to Atlanta for the company's annual shareholders meeting. 

CEO Frank Blake introduced Jason Smith, the manager on duty the night of the storm, Joe Barbosa, Joe Cabalero and Steve Cope, the store's manager. The four men received extended applause as well as Angel Awards, given to associates who help save lives. 

June 2, 2011

Four Joplin, Mo., associates of a Home Depot store destroyed by a tornado May 22 were flown to Atlanta for the company's annual shareholders meeting. 

CEO Frank Blake introduced Jason Smith, the manager on duty the night of the storm, Joe Barbosa, Joe Cabalero and Steve Cope, the store's manager. The four men received extended applause as well as Angel Awards, given to associates who help save lives. 

May 1, 2011

Responding to what he described as one of the most destructive spring-weather spells in history, Home Depot CEO Frank Blake said the retailer is helping communities recover.

The Home Depot Foundation is donating $250,000 to the American Red Cross for immediate relief needs in response to last week's tornadoes and storms that caused serious damage throughout the Southeast. 

March 30, 2011

According to an Atlanta Journal-Constitution article, Home Depot executives received increases in compensation after the company's first annual sales gain in several years. 

CEO Frank Blake earned about $10.5 million last year, up by about $500,000, according to the article. Compensation packages of other top executives rose $100,000 or more.

 

 

March 30, 2011

According to an Atlanta Journal-Constitution article, Home Depot executives received increases in compensation after the company's first annual sales gain in several years. 

CEO Frank Blake earned about $10.5 million last year, up by about $500,000, according to the article. Compensation packages of other top executives rose $100,000 or more.

 

 

March 28, 2011

A "stabilized business" has paved the way for an accelerated stock buy-back program at Atlanta-based The Home Depot. 

The home improvement giant announced the pricing of a $2 billion senior note issuance to refinance $1 billion of senior notes that came due in March 2011 and to repurchase $1 billion of outstanding shares through an accelerated share repurchase program with Barclays Capital. 

March 4, 2011

The Home Depot announced that Bill Lennie has been named president, The Home Depot Canada, effective immediately. Lennie will replace Aaron Carmack, who is taking an extended leave of absence to attend to a personal illness. 

"We are fortunate to have an executive with Bill's experience and leadership abilities who can quickly step into this critical role," said Frank Blake, chairman and CEO. "We wish Aaron the best and look forward to his return."

Carmack will assume a different leadership role within the organization when he returns. 

March 2, 2011

After completing its build-out of 19 Rapid Deployment Centers (RDCs), Home Depot now faces opportunities to make them better, said CEO Frank Blake.

Speaking during the company's fourth-quarter earnings conference, Blake said the milestone completes the RDC build-out, "at least for the next several years."

Blake described the restructuring as an "enormous undertaking," and credited Mark Holifield and his supply chain team.  

March 2, 2011

After completing its build-out of 19 Rapid Deployment Centers (RDCs), Home Depot now faces opportunities to make them better, said CEO Frank Blake.

Speaking during the company's fourth-quarter earnings conference, Blake said the milestone completes the RDC build-out, "at least for the next several years."

Blake described the restructuring as an "enormous undertaking," and credited Mark Holifield and his supply chain team.  

February 22, 2011

The Home Depot achieved its first year-over-year sales improvement since 2006, thanks partly to an "improving economy," according to CEO Frank Blake.

The Atlanta-based company posted 2010 sales of $68.0 billion, up 2.8% from 2009. Comparable-store sales for the company increased 2.9%. And in a difficult but improving economy, the world's largest home improvement retailer earned $3.3 billion, compared with consolidated net earnings of $2.7 billion in 2009.

January 13, 2011

The Home Depot, the world's largest home improvement retailer, announced that Aaron Carmack, regional VP for the Pacific North region, has been promoted to president, Home Depot Canada, effective Jan. 31. 

Carmack is replacing Annette Verschuren, who is leaving the company after nearly 15 years of service.

January 10, 2011

Drive into any Home Depot parking lot and you’ll find a collection of rag-tag pick-up and utility trucks parked near the store’s pro entrance. The owners of the vehicles represent almost one-third of Home Depot’s $66.2 billion in annual sales. Yet they only spend, on average, $5,000 a year apiece. 


Home Depot is where they stop if they run short of something or to grab a few items on their way to a job.


December 5, 2010

Most question-and-answer segments of earnings calls have a signature exchange that deserves to make the...

Most question-and-answer segments of earnings calls have a signature exchange that deserves to make the highlight reel on the 10 p.m. news.

From the recent Home Depot conference—the one during which the company reported upticks in sales and earnings for its third quarter—included the following:

Analyst: “Are there other types of opportunities outside of the core stores that would make sense to you?”

CEO Frank Blake: “We are focused on our core business.”

December 5, 2010

Which of the following is true about The Home Depot University:...

Which of the following is true about The Home Depot University:

a) Member of the NCAA’s Southeastern Conference;

b) Offers scholarships to outstanding DIYers; or

c) Provides centralized, management training to the company’s new leaders.

The answer is “c)”—but don’t expect multiple choice questions as part of the curriculum.