Home Depot overcomes financial crisis
The housing market has undergone a whirlwind or change, and Home Depot (HD) adjusted and built around each new road bump. CEO of Home Depot Frank Blake explained in an interview with CNNMoney how the company strives to improve in the housing industry by focusing on the core of retail:
The housing bust was certainly unpleasant for Frank Blake. As CEO of Home Depot, he had to lay off 11,000 employees and sell or shut down parts of the business. Revenues still haven't recovered, yet the stock has roared past its 1999 high, thanks in large part to Blake's focus on retailing's nuts and bolts: customer service, a revamped supply chain, and disciplined use of capital, which has actually diminished as profits have risen.