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Home Depot Article
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Home Depot Inc.
Since its founding in 1978, Home Depot and its orange-smocked employees have ruled the American home improvement industry, making it the second-largest retailer in the country, after Wal-Mart. But now the chain is at a crossroads. After years of staggering growth, it faces stiff competition from Lowe’s and it has struggled to weather a downturn in the housing market. While Home Depot has emerged from the credit crisis strong enough to borrow at attractive rates now, it has chosen not to do so. Frank Blake, the chairman and chief executive, has charted a course away from expansion, one that he holds out as a template for running a big company in postrecession America. In his view, hard times and less generous credit are restricting consumption and undermining the corporate expansion that drove economic growth in recent years. The best response, he decided, is to focus on Home Depot's most profitable core business: existing retail outlets. If Mr. Blake is right, a streamlined Home Depot will emerge stronger than its rivals. And if he is wrong, the company could risk losing its dominant position as the nation's favored shopping destination for do-it-your-selfers as well as contractors who build and refurbish homes. Home Depot has faced internal challenges in recent years as well. In 2000, hoping to avert a slowdown, its founders, Arthur Blank and Bernard Marcus, put the future of the company in the hands of a former top General Electric executive, Robert L. Nardelli. http://topics.nytimes.com/topics/news/business/companies/home_depot_inc/index.html |
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