Organization/Industry Overview Essay

1077 words - 4 pages

The Home Depot, Inc. OverviewWhen the housing market boomed, so did construction companies and building material suppliers. Every aspect of construction had an increase in demand from development companies looking for a large supply of building materials, and from a large consumer group of new homeowners. As a result, a company such as The Home Depot was able to capitalize from the success of the construction and home improvement markets. Unfortunately, due to the current economic challenges, the current financial and associate information for the company differs from that of its successful period. However, evaluating the Home Depot's current market condition and recognizing government regulations that may affect the industry will present possible solutions to issues and identify present opportunities faced by the company.The Home Depot, Inc., which was founded in 1978, is the world's largest home improvement store that operates 2,274 stores throughout North America, Puerto Rico, Mexico, China, and Canada. The company is the second largest retailer in the United States following Wal-Mart, and has approximately 300,000 employees as of the last quarter in 2008 (The Home Depot, Inc., 2009). The company supplies almost 45,000 items which are not limited to but include: lumber, floor and wall coverings, tools, paint, appliances, fixtures and almost every necessary item for home improvement. The company marketed itself to the large do-it-yourself consumer group and created the slogan, "You can do it. We can help."Although The Home Depot is the leader in the home improvement market, the company is far from a monopoly because the company is an oligopolistic firm. The Home Depot's competitors are other hardware and home improvement suppliers such as True Value, Orchard Supply Hardware, and ACE Hardware. However, Lowe's poses the greatest threat for Home Depot.It has been well established that currently the United States is in a recession, one that has been going on for over a year now, and shows no current signs of letting up. As the leader of the free world, whenever our nation has economic troubles, the repercussions are not only widespread, but also felt around the globe. No company in the country is immune to the effects of this recession, and Home Depot is no exception to this rule. During the past year, per-share profit has fallen as the recession and softer U.S. housing market eat into sales. Fewer people are in the market to buy houses and cutting back on expenditures such as remodeling their homes or making improvements, thus cutting into the sales of the company. The loss that Home Depot was burdened with was about three cents per share, totaling to a $54 million loss by their fourth quarter (Iconocast, 2009). This comes as no surprise as the outlook of our nation's gross domestic product (GDP) appears to be on a downward trend, as is evidenced by the GDP graph (See figure 1). This can only have further negative impacts upon the growth of our...

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