Content about Home Depot News

The Home Depot will implement its fourth annual Spring Black Friday event, which it describes as a weekend of regional savings on hundreds.

The sales begin April 4.           

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.

Home Depot's Northern division, which bore the brunt of Superstorm Sandy late last year, saw comp-store generator sales up in the triple digits.

Storm-related sales were one of the reasons Home Depot's fourth-quarter sales exceeded internal company expectations. Across the country, the departments that outperformed the company’s average comp for the fourth quarter were tools, lumber, electrical, outdoor garden, lighting, indoor garden and decor.

On Tuesday, Lowe’s reported its fourth-quarter financial results. On Wednesday, it was Home Depot’s turn. How do the two home center giants compare?   

The Home Depot says it has begun filling more than 80,000 seasonal positions to assist customers during the company's busiest selling season.

"Spring is always a special season for us, when we can offer employment opportunities for literally tens of thousands of Americans," said Tim Crow, executive VP human resources. 

The Home Depot Center, home of the Los Angeles Galaxy and Chivas USA of Major League Soccer, will get a new name at the end of the year.

Published reports indicate the Atlanta-based retailer will allow its 10-year, $70 million stadium-naming-rights deal to expire at the end of the year.

In addition to hosting soccer matches, the 125-acre Home Depot center located about 10 miles south of Los Angeles includes facilities for track and field, baseball, basketball tennis and other sports. 

The Stephen Siller Tunnel to Towers Foundation will offer about $2.75 million worth of Home Depot gift cards to Staten Island homeowners recovering from Hurricane Sandy, according to a report in the Staten Island Advance newspaper.

The plan, which is expected to be announced Tuesday at a Staten Island Home Depot, calls for giving out $250 Home Depot gift cards to residents of the New York City borough who live in damaged homes. 

Two New York men have been arrested and accused of stealing $257,000 from Home Depot stores in an elaborate shoplifting scheme involving two shopping carts containing identical items.

Home Depot will invest $157 million (MXN $2 billion) to enlarge its presence in Mexico in 2013, according to a news report in Economista. Part of the funds will be used to buy land for new stores, which will total 100 by the end of 2012.

Home Depot Mexico chairman Ricardo Saldivar told Economista that the Atlanta-based retailer hopes to double its current number of units in the future, which sets its goal at 200 stores.

Chain Store Age’s annual Retail Construction Survey shows Home Depot and Lowe’s among the retail industry’s top-10 leaders in capital expenditures. 

Lowe’s ranked sixth among retailers with $1.4 billion in capital expenditures, and Home Depot ranked eighth, with $1.1 billion.

Wal-Mart stores ranks first on the list -- way out in the lead with $7 billion to $7.5 billion in capital spending.

Ronald Sargent has resigned from the Home Depot board of directors, effective immediately, according to a filing with the U.S. Securities and Exchange Commission (SEC). Sargent did not cite any disagreement on any matter relating to the company’s operations, policies or practices, according to the SEC statement. 

Riding an improving housing market around the country, Atlanta-based Home Depot posted third-quarter sales of $18.1 billion, up 4.6% from the same period last year. Comp-store sales increased 4.2% overall, and increased 4.3% in the United States. 

Despite a charge of about $165 million to close seven stores in China, the company posted net earnings of $947 million, up 1.4% from $934 million in the year-ago quarter. On an adjusted basis, the company's net earnings rose 23.3% to $1.1 billion, the company said.