Home Depot 2000 Annual Report Download - page 2

Arthur M. Blank
Co-Chairman of the Board
Bernard Marcus
Co-Chairman of the Board
There’s a saying that retailing is not for the faint of heart – that to truly succeed in the business you must be
able to react quickly to changes in everything from consumer trends to the competitive environment. More than
that, it requires the ability to reinvent yourself on a continuous basis – to evolve with the marketplace and
customer demands.
Our ability to embrace change – to reinvent ourselves – is what has made Home Depot so successful. It’s what made
it possible for us to grow from one store on Memorial Drive in Atlanta to 1,134 at year end, serving nearly a
billion customers from Canada to the tip of South America.
In 22 short years, we’ve grown to $46 billion in sales – with a scale, scope and reach that is unparalleled in the
home improvement industry.
We relish the challenge of sustaining that growth and continuing to be among the world’s leading retailers – but
it will take a tremendous effort on the behalf of everyone at Home Depot to make it happen. It will especially
require new ways of thinking and doing – in applying new technologies, building efficiencies, reallocating
resources – all while we continue to listen and respond to our customers every day.
We’re very optimistic Our optimism is built on our associates’ dedication and commitment to our “orange-blooded”
entrepreneurial spirit, which embraces change yet retains our core values of excellent customer service, respect
for all people and giving back to the community.
Our optimism is also built on our ability to bring new leadership into the executive ranks – to seek out new talent,
experience and vision. That’s why we are so excited to be joined by Bob Nardelli, one of the country’s top business
leaders, as President and CEO. His fresh perspective and business insight will take us to the next level.
While going outside the business in recruiting executive talent is not rare in other industries, it is somewhat
rare in retailing. But we’re a unique company seeking a unique successor.
We’ve often said that the people who follow us have to be better than we were. The hard part is not so much
creating a new business, but successfully meeting customers’ and investors’ expectations year after year, decade
after decade.
It’s now time to hand the baton to a new generation of managers to see us through the new millennium. Our
legacy to Bob is the most talented and capable merchandising, operations and support team in the retailing
industry. Working together, they will take this great Company to new heights in customer service, market growth
and stockholder value.
Corporate Profile Founded in 1978, The Home Depot®is the world’s largest home improvement retailer and the second largest retailer in the
United States, with fiscal 2000 sales of $45.7 billion. At the close of fiscal 2000, The Home Depot operated 1,134 retail locations, including 1,029
Home Depot stores in the United States, 67 Home Depot stores in Canada and 7 Home Depot stores in South America. The Company also operated
26 EXPO Design Centers®, 4 Villager’s®Hardware stores and 1 Home Depot Floor StoreSM. In addition, the Company operated wholly-owned sub-
sidiaries Apex Supply Company, Georgia Lighting®, Maintenance Warehouse®and National Blinds and Wallpaper®. The Company employed approxi-
mately 227,000 associates at the end of fiscal 2000.
The Company has been publicly held since 1981. The Home Depot trades on the New York Stock Exchange under the ticker symbol “HD” and is included
in the Dow Jones Industrial Average and the Standard & Poor’s 500 Index.
founders’ letter
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