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The Home Depot grows to 127 stores in Mexico in 2020

The Home Depot, Inc. reported that it opened two new stores in Mexico in 2020, bringing its network to 127 stores.

Today, the states of Mexico with the most stores of these companies are: States of Mexico (16), Nuevo León (11), Mexico City (10) and Jalisco (8).

Headquartered in Cobb County, Georgia (United States), The Home Depot is a home improvement retailer that sells a wide variety of building materials, improvement products, lawn and garden products, furnishings and home improvement products. facility maintenance, repair and operations, and provides a range of services, in-store and online.

The company operates in the United States (including Puerto Rico and the territories of the Virgin Islands and Guam), Canada and Mexico.

Year-on-year, The Home Depot posted a 19.9% ​​growth in its net sales in 2020, to $ 132.11 billion.

The company also achieved a 14.4% increase in its net profits last year, to 12.866 million dollars.

The Home Depot

In addition to the two in Mexico, the company opened three new stores in the United States during 2020, for a total store count of 2,296 as of January 31, 2021.

At the end of fiscal 2020, a total of 309 of its stores, or 13.5%, were located in Canada and Mexico.

Total retail sales per square foot were $ 543.74 in 2020.

Additionally, The Home Depot inventory turnover ratio was 5.8 times at the end of 2020, compared to 4.9 times the prior year, driven by a significant increase in customer demand in major merchandising departments.

Covid-19

The retail landscape has changed rapidly in recent years, with customer expectations constantly evolving and the agility required to meet these increasing expectations.

In 2020, this trend accelerated due to the pandemic, which spurred significant growth in demand for home improvements and prompted the operational changes necessary to promote the safety of The Home Depot customers and associates.

The company’s investments have been guided by the following strategies:

  • Invest using a «customer care» approach.
  • Strengthen your position as a home improvement product authority.
  • Offer the best interconnected shopping experience in its class.
  • Expand your position as a low-cost provider.

 

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