Amazon Stock Price Today – Home Depot Expands Distribution Hub Footprint
The Home Depot has brought three new distribution hubs to the state of Florida, which are located in Miami, West Palm Beach and Fort Myers. Those centers will provide customers in the South Florida area with even more expedient delivery choices, according to an announcement.
The Miami hub is a 332,000-square-foot facility, which will provide Pro and DIY customers with large and cumbersome construction products and other oversized material. In addition, the new centers in Fort Myers and West Palm Beach will grow the retailer’s appliance delivery to shoppers in those areas.
“Our customers have varying needs – from DIYers renovating their homes to professional contractors on job sites,” Kyle Dennis, vice president of supply chain development, said in the announcement. “These investments are helping us deliver to our Pro and DIY customers across South Florida when, where and how they want.”
Furthermore, The Home Depot will open two more Miami centers next year to grow delivery of appliances in addition to same-day and next-day package delivery to shoppers throughout the area.
The Home Depot runs just under 2,300 retail stores in each U.S. state, Puerto Rico, the District of Columbia, Guam, the U.S. Virgin Islands, Mexico and 10 provinces in Canada. About half a million associates work for the company.
The news comes as The Home Depot said in February that its fourth-quarter revenue increased 25.1 percent, finishing off a record-busting year of sales and earnings. Comparable sales for the quarter increased 24.5 percent, with the inclusion of a 25 percent expansion at its domestic stores.
As for overall results, the retailer posted diluted earnings per share of $2.65 on sales of $32.3 billion. Those results came out ahead of analyst expectations of earnings per share of $2.62 and revenues of $30.73 billion.
Chairman and CEO Craig Menear said in an earnings announcement at the time that “the team demonstrated ongoing flexibility to operate effectively in a very challenging environment and deliver record-breaking sales and earnings.”