Retailer plans to meet financial goals and to focus on interconnected retail
The Home Depot presented strategic priorities and financial targets at its 2013 Investor and Analyst Conference on Dec. 11, 2013 The company set the stage for a happy New Year with sales expected to grow by 5.6 percent, with earnings per share anticipated to climb by 24 percent to $3.72 per share for the year. Also, annual comparable store sales are estimated to increase by approximately 7.0 percent next year.
The retailer reported its financial targets for fiscal 2014, including sales growth by approximately 5 percent, eight new store openings, and capital spending of approximately $1.5 billion. Regarding long-term financial targets, Frank Blake, chairman and CEO, says the company expects to meet the financial targets it identified in June of 2012 — an operating margin of 12 percent and a 24 percent return on invested capital — by the end of fiscal 2014, a year earlier than planned.
The report also included the company’s focus on interconnected retail. Part of this initiative is The Home Depot’s third-quarter release of its mobile app for Pro customers. The app enables professional customers to check inventory, scan bar codes for ordering, find products by aisle and bay location, place orders for in-store pickup, and track in-store and online receipts. Customers can also access past purchases and reorder materials, view customer service agreements, contact a store or Pro Desk, and check on the availability of tool or truck rental.
Sales from all online channels created 3 percent of The Home Depot’s total sales in Q3.
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