Real Estate

HomeDepot CEO expects 3% growth in 2013

HomeDepot CEO Frank Blake told CNBC the company expects 3% growth in 2013 as the housing market continues to improve.

“What we always try to focus on is our customer,” said Blake. “We have lots of competitors in our market.”

Blake told CNBC that there are always opportunities to improve operations within the company and that his first question is always, “How do we get more productive in the store year-over-year?”

When asked if recent tax changes and budget cuts will have an effect on business for HomeDepot (HD), Blake replied, “Our customer base is a customer base that’s a homeowner, so [we] may be a little less affected by the payroll tax change.”

Finally, Blake shared his strategy for employment growth. “Our average store has around 130 associates working in it,” Blake said. “It’s less for us about adding stores than it is getting more sales in the stores we have. When sales go up, our number of associates goes up.”

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