ATLANTA, Dec. 21, 2017 /CNW/ -- The Home Depot® announced
today that it has acquired The Company Store, a leading online
retailer of textiles and home décor products, from Hanover Direct.
The deal closed on December 19 and
terms were not disclosed.
In addition to its success as an online retailer, The Company
Store has strong relationships and industry leading capabilities in
the development and sourcing of high quality textiles across
bedding, bath, and related categories. Founded in 1911, The
Company Store has a rich history of providing products that are
highly sought after by customers as they put the finishing touches
on a room.
"The acquisition of The Company Store provides product
development and sourcing capabilities to help us expand our online
décor business into broader categories across the entire home,"
said Craig Menear, chairman, CEO and
president of The Home Depot. "On behalf of our 400,000-plus
associates, I want to welcome The Company Store's talented
associates into The Home Depot family."
The acquisition does not include The Company Store's five retail
locations.
The Home Depot is the world's largest home improvement specialty
retailer, with 2,284 retail stores in all 50 states,
the District of Columbia, Puerto Rico, U.S. Virgin
Islands, Guam, 10 Canadian provinces and Mexico. In
fiscal 2016, The Home Depot had sales of $94.6
billion and earnings of $8.0 billion. The Company employs
more than 400,000 associates. The Home Depot's stock is traded on
the New York Stock Exchange (NYSE: HD) and is included in the Dow
Jones industrial average and Standard & Poor's 500 index.
Forward-Looking Statements
Certain statements contained herein constitute
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
relate to, among other things, the demand for our products and
services; effects of competition; state of the residential
construction, housing and home improvement markets; capital
allocation and expenditures; financial outlook; and integration of
The Company Store into our organization and the ability to
recognize the anticipated synergies and benefits of the
acquisition. Forward-looking statements are based on currently
available information and our current assumptions, expectations and
projections about future events. You should not rely on our
forward-looking statements. These statements are not guarantees of
future performance and are subject to future events, risks and
uncertainties – many of which are beyond our control or are
currently unknown to us – as well as potentially inaccurate
assumptions that could cause actual results to differ materially
from our expectations and projections. These risks and
uncertainties include but are not limited to those described in
Item 1A, "Risk Factors," and elsewhere in our Annual Report on Form
10-K for our fiscal year ended January 29,
2017 and in our subsequent Quarterly Reports on Form
10-Q.
Forward-looking statements speak only as of the date they are
made, and we do not undertake to update these statements other than
as required by law. You are advised, however, to review any further
disclosures we make on related subjects in our periodic filings
with the Securities and Exchange Commission.
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SOURCE The Home Depot