Home Depot focused on services, store modernization

ATLANTA — The Home Depot will expand its services business to meet the demands of a growing baby-boomer demographic that has little interest in taking on labor-intensive projects, said Carol Tome, the company's executive vice president and chief financial officer, at the William Blair & Company's Growth Stock Conference today.

Noting that between now and 2010, the fastest growing segment of the population will be between the ages of 55 and 64, she said, "Fifty percent of those say, 'I don't want to do it, I want you to do it for me.' This plays very well into our services strategy."

Additionally, Tome noted the Home Depot's ongoing store-modernization strategy that consists of a three-year plan to touch every store with new signage, new paint, new lighting and a new floor. Other stores, she said, will get more deluxe treatment. Part of the plan calls for the company to "completely renovate certain selected stores and bring those up to our current store standard," said Tome, adding that the goal is better product differentiation and a store that's easier to shop.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!