The Home Depot was founded in 1979 by Bernard Marcus, Arthur Blank, Ron Brill, and Pat Farrah in Atlanta, Georgia. They had the goal to build home-improvement warehouses that were bigger than any of their competitors.
The first two stores in the greater Atlanta, Georgia, area were leased from J.C. Penny.
The company became popular and quickly began opening new stores. In the first ten years of business, the company opened 100 new stores.
Home Depot went public on the NASDAQ in 1981 an on the New York Stock exchange in 1984.
By 1989, Home Depot had become the largest home improvement store in the US, surpassing their competitor, Lowes.
In 2006, the company began testing fueling stations and car washes at some of their locations in Tennessee and Georgia.
The downturn in the housing market in 2008-2009 caused the company to close 54 low performing stores nationwide, as well as laying off several thousand associates. Also, most of the big box stores in China were forced to close, however, smaller, specialty type Home Depot stores in China remain open.
In December of 2009, former US President Barack Obama held a meeting to discuss the economic impact of energy-saving home retrofits with labor, manufacturing, and small business leaders at a Northern Virginia Home Depot store in Alexandria, Virginia.
The Home Depot has more than 2,250 stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, Canada, and Mexico. Previous ventures into China and South America proved unsuccessful.
Home Depot is the largest home improvement retailer in the United States, with more than 2,274 locations. It is listed as is #106 on the Fortune Global 500, is part of the S&P 500, has 406,000 employees worldwide, and had $88.5 billion in revenue in 2016.