Home Depot 1999 Annual Report Download - page 21

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17
We ended fiscal 1999 with 930 stores, an increase of 22% from the previous year. Our current
plans call for consistent 21–22% annual growth in store openings going forward, taking us to more
than 1,900 stores by the end of fiscal 2003.
Most of the Company’s new store growth during this time will continue to come from
Home Depot stores in North America. Even though we are the largest home improvement retailer
in the world, The Home Depot’s market share of the home improvement and other housing and
building-related products market in North America is less than 10%. We see many opportunities to
increase our market share in both the United States and Canada, where the industry is currently
expected to grow at a steady pace.
At the same time, we are moving forward with plans for expansion outside North America.
During fiscal 1999, we opened two additional stores in Chile – one in Santiago and one in
Concepcion – for a total of four. We also opened our second store in San Juan, Puerto Rico. During
fiscal 2000, we plan to open one additional store in Chile, as well as our first stores in Buenos Aires,
Argentina. Our experience outside of North America has shown us that Home Depot-style customer
service is valued in other areas of the world, providing encouragement for successful long-term
international growth.
Today, The Home Depot is the strongest home improvement brand in the world. From stores,
to Home Depot home improvement books, to corporate gift certificate incentive programs, to
powerful sponsorships like NASCAR’s®Tony Stewart, CBS College Football and Hockey Night in
Canada®
, The Home Depot has become part of the fabric of North America, and we are starting to
weave a similar tapestry in South America.
With so many opportunities to expand the power of the Home Depot brand, it’s no wonder
we’re excited about our prospects for consistent, long-term growth. Our plans to continue to grow
the Company, as well as our leadership position in the industry, are a key part of our ongoing
commitment to our customers, associates and stockholders.
New stores will continue to drive the
majority of The Home Depot’s growth.
The EXPO Design Center division will continue its
aggressive expansion, growing from 15 to 26 stores
by the end of fiscal 2000, and to approximately 200
stores over the next five to six years.
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