World's largest home improvement retailer, Home Depot unveiled its growth targets for 2010 at its annual meeting with the investment community.
Over the next five years, the company expects to maintain and grow its leadership position in home improvement retail worldwide.
At the same time, it expects to become the nation's largest diversified wholesale distributor, become number one in services and dramatically increase its direct-to-consumer channels.
The company said it expects to achieve this vision through targeted annual sales growth of 9-12 percent, driven by 400-500 new store openings over the next five years and by significant growth in its services business and Home Depot Supply.
Founded in 1978, The Home Depot is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2004 sales of $73.1 billion.
The company employs approximately 345,000 associates and has 2,028 stores in all 50 states, the District of Columbia, Puerto Rico, 10 Canadian provinces and Mexico.
The company has announced plans for retail expansion into China.
The Home Depot has been recognized by FORTUNE magazine as the No 1 Most Admired Specialty Retailer for 2005.
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