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Home Depot is investing about $11 billion in “internal improvements,” including more distribution centers, The Atlanta Journal-Constitution reports.
The Atlanta newspaper, which is located near Home Depot’s headquarters, interviewed company CEO Craig Menear about the retailer’s plans for growth.
Rather than focusing on expanding with new stores, the company will open approximately 170 warehouse and distribution facilities throughout the U.S., Menear tells the Journal-Constitution.
The retailer is also working on further integrating its online and in-store shopping experiences, “adding lockers so that shoppers can pick up online orders,” the newspaper article reports.
“About 45 percent of the orders placed on HomeDepot.com are actually picked up in stores,” Menear says in the article. “And of those 45 percent who come into the stores, more than 20 percent make additional purchases.”
Home Depot had sales of about $100 billion in 2017. The company achieved $24.9 billion in sales during the first quarter of 2018, for a 4.4 percent increase above the same period in 2017.
The home improvement retailer operates 2,285 retail stores in all 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company has more than 400,000 employees.
