December 6, 2017 at 7:16 p.m. | Print view
Home Depot, the world's largest home improvement retailer, plans to invest more in its stores and employees over the next three years, as it pursues a new goal of almost $ 120 billion in annual sales.
of an annual meeting with analysts and investors on Wednesday, the Atlanta-based company also announced plans to repurchase up to $ 15 billion in shares. The retailer reiterated previous forecasts of sales and earnings growth for the current year.
Home Depot promised to spend more on its supply chain and customer experience, with the aim of adapting to the shock that shook the retail industry.
Although the chain has been largely immune to customers who defect to Amazon.com ̵
"The retail landscape is changing at unprecedented rates," CEO Craig Menear said in a statement.
Home Depot has benefited from a rebound in housing prices in the United States, which has encouraged homeowners to spend more on fixing their properties.
Under its new long-term goals, sales can reach up to $ 119.8 billion in fiscal year 2020, growing 4.5 percent to 6 percent annually.