Revenue increased 11.9% in Q1 of 2015, to $17.26 billion compared with $15.42 billion in the year-ago period.
Craig Menear adds store operations to his duties, which include overseeing online retail, vendor management, merchandising and the global supply chain. The retailer also promoted supply chain executive Mark Holifield.
The Home Depot Inc. has promoted Craig Menear to president, U.S. retail, a role that adds overseeing stores operations across the country to his existing responsibilities, which include online sales. The retailer has more than 2,000 stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. It has said that enabling more shipping from stores to fill online orders is part of its long-term plan for increasing web sales.
The move follows several large e-commerce initiatives by the retailer, No. 46 in the Internet Retailer 2013 Top 500 Guide. In January, it purchased web-only window dressings retailer Blinds.com and last month announced plans to open three e-commerce fulfillment centers, part of a $300 million investment in e-retail, warehouses and the supply chain. In addition to adding more ship-from-store capabilities this year, Home Depot has said it will focus in 2014 on mobile commerce and same-day shipping of web orders.
Menear, whose title has been executive vice president, merchandising, has been responsible for leading all those e-commerce growth projects, a spokesman for the company says. As president, U.S. retail, he will continue to oversee merchandising departments, services and strategy; the company's supply chain network; global sourcing; vendor management; marketing; and online sales, as well as managing U.S. stores, the company says. Before joining The Home Depot as a merchandising manager in the Southwest division in 1997, Menear worked in merchandising at Ikea, Builders Emporium, Grace Home Centers and Montgomery Ward, according to The Home Depot. He also previously operated his own retail business.
The Home Depot also promoted Mark Holifield to executive vice president, supply chain and product development, which puts him in charge of sourcing and proprietary brands, it says. Holifield had joined the retailer in 2006 in order to turn around its supply chain and logistics infrastructure, it says. Prior to The Home Depot, he’d spent 12 years moving up the ranks of supply chain positions at The Office Depot, the home improvement retailer says. Earlier, he’d also worked in supply chain management for Frito-Lay Inc. and H.E. Butt Grocery, it says.
“Craig is a world-class retailer and has done a terrific job in recent years leading some of the most important and successful initiatives in our company,” says Frank Blake, The Home Depot’s chairman and CEO. “And Mark has successfully led one of the most extensive supply chain transformations in retail history. Both are very deserving of their new leadership roles, and I look forward to their continuing contributions to our business.”
In the fourth quarter, the retailer’s web sales were up by more than 50% from the same period last year, compared with a store sales increase of 4.4% year over year, the retailer reports. In 2012, The Home Depot grew U.S. online sales by 16.72% to $740 million from $634 million in 2011, according to Top500Guide.com data.