Hardware Retailing The Industry's Source for Insights and Information
While Home Depot’s growth strategy is focused on e-commerce, the retailer is also looking to tap into the expected boom in drilling activity in states such as Louisiana, North Dakota and Texas, according to an article in The Wall Street Journal.
Home Depot’s only new U.S. store this year is in Minot, N.D., “the heart of the American shale oil and gas boom,” the article says. Chief Executive Officer Frank Blake said the impact of shale oil development is one of the great stories happening now.
The 100,000 square-foot store in Minot is more than a four-hour drive from Home Depot’s nearest location and is the only U.S. store Home Depot opened in the fiscal year ended Feb. 2.
Other retailers, including Wal-Mart, are also shopping for real estate in oil-and-gas towns. A Wal-Mart in Williston, N.D., raised hourly pay for cashiers and stock clerks to $17. The store imported workers from nearby stores and other states to meet the demand.
