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The Home Depot is one of the largest home improvement retailers in the world, with over 2,300 stores across the United States, Canada, and Mexico.
Since opening its first store in Atlanta in 1979, the company has grown rapidly through expansion, mergers and acquisitions, and e-commerce efforts.
This growth is illustrated in the following timeline of Home Depot detailing key events in the company’s history over the past four decades.
1978-1999 — FOUNDING & EARLY YEARS
June 22, 1979: Grand Opening
The first two The Home Depot stores open in metro Atlanta in spaces leased from J.C. Penney.
The stores are located in Doraville and on Memorial Drive in Decatur.
September 22, 1981: NASDAQ
The Home Depot goes public on the NASDAQ stock exchange, raising over $4 million through its initial public offering.
This provides capital for expansion.
October 31, 1984: Bowater Home Centre
The Home Depot acquires Canadian hardware chain Bowater Home Centre for $40 million.
This gives Home Depot an entry into the Canadian market.
January 17, 1997: Maintenance Warehouse
The Home Depot announces plans to acquire Maintenance Warehouse, a leading direct mail distributor of maintenance and repair products.
The $245 million acquisition helps Home Depot reach business customers.
December 13, 1999: Apex Supply Co.
The Home Depot announces plans to acquire Apex Supply Co., an Atlanta-based wholesale distributor of plumbing, HVAC and pipe products.
The move bolsters offerings for professional contractor customers.
2000-2007 — EXPANSION
December 6, 2000: Robert Nardelli
The Home Depot names Robert Nardelli, a former GE executive, as its new CEO and president.
He replaces co-founder Arthur Blank.
July 2001: Your Other Warehouse
The Home Depot acquires Your Other Warehouse, a large plumbing distributor focused on special order fulfillment.
This bolsters service capabilities.
September 2005: 10 Crescent Lane
Home Depot launches an online home furnishings store called 10 Crescent Lane, expanding its e-commerce efforts.
February 2006: Home Decorators Collection
The Home Depot acquires Home Decorators Collection, a branded supplier of home décor products.
It becomes part of the Home Depot Direct division.
January 3, 2007: Frank Blake
Robert Nardelli and Home Depot mutually agree to his resignation as CEO amid concerns over his compensation and stock performance.
The Home Depot names Frank Blake, previously the VP and executive officer, as the new CEO.
He was a longtime deputy to Nardelli.
July 2007: HD Supply
After acquiring it the previous year, The Home Depot sells its HD Supply division to a group of private equity firms.
HD Supply is an industrial wholesale distribution business.
2008-PRESENT — BUILDING THE FUTURE
2009: EXPO Design Center Failure
The Home Depot closes all EXPO Design Center stores, which were intended to provide installation services and quality home improvement products.
The underperforming chain once had over 60 locations.
September 2012: China Pull-Out
After struggling to gain traction, The Home Depot announces plans to close its remaining big box stores in China.
It retains a few specialty stores focused on paint, flooring and home decor.
September 2014: Payment Data Breach
The Home Depot announces a major payment data breach which exposed 56 million credit and debit cards used at stores from April to September 2014.
July 2015: Interline Brands
The Home Depot acquires Interline Brands, a distributor of maintenance, repair and operations products, for $1.6 billion.
The deal bolsters Home Depot’s professional customer base.
2017: The Company Store
Home Depot acquires the online home furnishings retailer The Company Store, which was founded in 1911.
This continues Home Depot’s push into ecommerce.
January 2022: Ted Decker
Longtime Home Depot executive Ted Decker is named CEO, replacing Craig Menear, who continues as chairman of the board.
February 2023: Wage Investment
Home Depot announces plans to invest $1 billion over 10 years to raise wages for hourly employees.
This follows strong recent financial results.