CLAIM #29365 · The Home Depot Inc (HD) · 2022Q2 earnings call · Aug 16, 2022 · due Jan 31, 2023
“Our original plan was to open up 150 new buildings. And while many of these will be complete by the end of this year, some are going to take us a little bit longer, and that's a function of our HD Supply acquisition, which we paused and reevaluated our needs in facilities that serve similar capabilities as well as some of the impact that we had associated with COVID.”
Richard McPhail · CFO
In context
“y decent price point 100% discretionary item. Chuck Grom: That's obviously good to hear. Just switching gears a little bit to the next couple of years. Just wondering if you guys can discuss the new facilities that you've opened up across the country and the benefits you're seeing, you touched on it in Dallas a little bit. But how much of a tailwind can that be over the next couple of years as you largely complete that rollout? Richard McPhail: Yeah, I'll start off. Our supply chain is an important component of the ecosystem that we're building to serve our customers and drive productivity. And our intent is really to build the fastest, most efficient and reliable delivery network in home improvement reaching 90% of households with a same-day, next-day service on parcel and big and bulky. Our original plan was to open up 150 new buildings. And while many of these will be complete by the end of this year, some are going to take us a little bit longer, and that's a function of our HD Supply acquisition, which we paused and reevaluated our needs in facilities that serve similar capabilities as well as some of the impact that we had associated with COVID. We're very pleased with the performance of the buildings. We've got about 85 of our 100 planned market delivery operations. We've got 11 of our planned DFC expansions, and those facilities will serve bulk of parcel in the big and bulky customer in local markets. And then lastly, and Hector referenced this, our flatbed distribution centers that will finish the year with about 15 or half of our intended goals are right on track. And Dallas was the first market that we stood up these capabilities. It's been operational for over two years. And we really like what we're seeing out of that ecosystem in the Dallas market that Hector mentioned. We're learning a great deal and we're winning that Pro plan purchase. And so we're excited about the possibilities that remain with our investment and our”
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SEC filings for HD ↗ · Claim quote is verbatim from the 2022Q2 earnings call.