The company's services business grew 28 percent during the second quarter of fiscal 2005. The Home Depot saw strong growth in categories such as roofing, countertops, kitchens, windows and soft flooring. In the second quarter, the company expanded it services platform through the acquisition of Viplex Industries Inc, a leading company in the window and siding installation market in California.
Expanding the Market Over the past four years, the company has expanded its market through The Home Depot Supply. "The acquisitions completed or announced during the second quarter solidify leadership position by combining exceptional management teams with superior business models and specialized services," said Joe DeAngelo, President, The Home Depot Supply. "They see tremendous potential to continue expanding these businesses while providing unparalleled service to the professional contractor."
During the second quarter, The Home Depot Supply reported strong double- digit sales growth and represents approximately 4 percent of the company's total sales. The Home Depot Supply operates on three platforms: Maintenance, Repair and Operations (MRO), Builder and Professional Supply. A schedule outlining The Home Depot businesses within these platforms may be found on www.homedepot.com under the Investor Relations section.
The Home Depot will conduct a conference call today at 9:00 a.m. EDT to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at www.homedepot.com under the Investor Relations section.
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