Content about The Home Depot

The Home Depot's top merchant had a lot more good news than bad news to share with investors regarding the retailer's first quarter performance.

"We are pleased with our performance in the first quarter with strength in our business across the breadth of the store," said Craig Menear, executive VP merchandising. The only departments with negative comp-store sales were indoor and outdoor garden -- the result of unusually cold weather in parts of the country, he said.

When Hurricane Sandy slammed into the northeastern part of the United States, the level of damage was clearly devastating. It was the start of a tremendously difficult time for many residents of this highly populous region. When bad things happen, a silver lining often emerges. In this case, that is a positive impact on the home improvement industry.

The Home Depot Canada has joined other Canadian retailers in complying with the government's planned phaseout of the penny.

However, the retailer noted that many Canadians were unaware of the phase-out, and wanted to ensure its customers that it is doing its best to inform them of the change. As of Feb. 4, the penny will no longer be in circulation. 

Bad weather has meant brisk business for the industry’s largest home improvement retailers, which for the second year in a row experienced significant sales gains from an East Coast hurricane.

Fourteen months after Hurricane Irene wreaked havoc on the Northeast, Hurricane Sandy ravaged the East Coast, particularly New Jersey and southeast New York, where damage totals continue to rise well into the tens of billions of dollars.

The Home Depot and Lowe's are adjusting their lineups in their appliance assortments. At Home Depot, Samsung joins the fray, while Lowe's introduced LG.

At Home Depot, Samsung Electronics America products will be available to be ordered in store locations nationwide and on Homedepot.com beginning Dec. 9. "Adding Samsung's line of home appliances to the roster really bolsters our offering to meet the growing needs of our consumers," said Bob Baird, merchandising VP.

Tool maker and distributor Hilti will end its in-store relationship with The Home Depot, according to an article in the Tulsa (Okla.) World.

The store-within-a-store Hilti departments had been a fixture at Home Depot for about 13 years.

Of all the Home Depot metrics that were reported in its second quarter — including double-digit earnings gains — the comparable-store sales metric of positive 2.1% doesn’t jump off the page.

The City of Fort Worth, Texas, has announced that it will hold do-it-yourself help sessions for dealing with mosquitoes and the threat of West Nile virus at a number of Home Depot and Lowe’s locations.

Tarrant county residents can attend Saturday and Sunday classes at Lowe's or Home Depot on Aug. 25 and 26. (The weekend seminars began in early August.) Classes will focus on mosquito eradication and methods for eliminating nesting areas in and around homes, apartments or condos.

Home Depot today reported sales of $20.6 billion for the second quarter of 2012, a 1.7% increase from the second quarter of fiscal 2011. Comparable sales for U.S. stores were positive 2.6%, and overall same-store sales for the second quarter were positive 2.1%.

Net earnings for the world’s largest home improvement retailer were $1.53 billion for the second quarter, which ended July 29. This compares with net earnings of $1.36 billion in the same period a year ago, reflecting a 12.4% increase. 

The Home Depot will acquire Irving, Texas-based U.S. Home Systems, the retailer’s exclusive provider of kitchen and bath refacing products and services, as well as closet and garage organizational systems.

Home Depot has announced the expansion of its major appliance brands by adding Whirlpool, Electrolux and Frigidaire in a limited number of stores and on Homedepot.com.

The appliances will be available through the company's Depot Direct delivery network and available to be ordered in all U.S. stores. Depot Direct includes more than 3,000 appliances delivered and installed to the customer's home within one to five days of purchase. Appliance purchases through Depot Direct include free delivery and haul-away.

Sporting goods retailer Hibbett Sports hired Scott J. Bowman as CFO and senior VP. Bowman was CFO for the northern division of The Home Depot since 2006. 

Bowman also served in the role of senior director, finance and IT with the world’s largest home improvement retailer. He was with Home Depot since 2006. Prior to that, Bowman worked for The Sherwin-Williams Co.

At Birmingham, Ala.-based Hibbett, Bowman will replace Gary Smith, who is retiring. The move is effective July 9.