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MarketScreener Homepage  >  Equities  >  Nyse  >  The Home Depot, Inc.    HD

THE HOME DEPOT, INC.

(HD)
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Home Depot : Expands Skilled Trades Initiative with 'Path to Pro' Program

12/03/2020 | 08:52am EST

ATLANTA - The Home Depot announced today that it is expanding on The Home Depot Foundation's$50 million trades training commitment announced in 2018 with a new education and job placement program called Path to Pro. The program aims to address the skilled labor gap by educating more people in the skilled trades, connecting skilled tradespeople with jobs and careers, and generating interest in trade professions through educational campaigns.

Eighty-three percent of contractors still have trouble finding skilled workers, according to the U.S. Chamber of Commerce Construction Index, and at any given time, there are about 300,000 skilled labor job openings*.

The Home Depot is investing in training from entry-level to advanced certifications. The company recently sponsored its first weeklong boot camp to teach essential industry skills like job site safety, tool usage, material handling as well as communication and professional skills. The boot camp is piloting in the Atlanta area and is planned to expand into additional markets next year. Graduates earn a Home Depot certificate that recognizes construction skills and professional fundamentals.

Additionally, the company will launch a first-of-its-kind website early next year to allow people to search local training programs, licensing requirements and open jobs in the trades - all in one centralized resource. The site features reliable day-in-the-life videos and stories for each trade, projected industry growth, salary information in industries like electrical, carpentry, plumbing and HVAC.

The Home Depot will also introduce a new, proprietary online platform to increase access to networking between skilled tradespeople and the company's Pro customers. Training program graduates can showcase their work portfolio, experience and additional qualifications, and be contacted by Pros in their area looking for skilled labor hires.

In 2018, The Home Depot Foundation launched its trades training mission to help fill the skilled labor gap through programs in high schools, career academies and military bases nationwide. The Foundation works with Construction Education Foundation of Georgia (CEFGA) and Home Builders Institute (HBI) to provide skilled training courses at the K-12 level in schools across the country. In partnership with HBI and 10 military bases, separating service members will be trained and certified, helping them launch their next career. The Home Depot is also the trades industry sponsor for the Center for Workforce Innovation at Atlanta Technical College (ATC) which is providing real skills to help students attain economic mobility in the trades.

The Foundation's trades-focused partnerships have exposed more than 15,000 people to the skilled trades and have certified 3,600 participants in its first two years. With the company's expanded efforts, people will have even more resources and training to pursue and grow their careers in the trades from start to finish.

*Bureau of Labor Statistics Job Openings Survey (Construction Sector)

About The Home Depot

The Home Depot is the world's largest home improvement specialty retailer, with 2,295 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2019, The Home Depot had sales of $110.2 billion and earnings of $11.2 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.

About The Home Depot Foundation

The Home Depot Foundation works to improve the homes and lives of U.S. veterans, train skilled tradespeople to fill the labor gap and support communities impacted by natural disasters. Since 2011, the Foundation has invested more than $350 million in veteran causes and improved more than 48,000 veteran homes and facilities in 4,500 cities. The Foundation has pledged to invest half of a billion dollars in veteran causes by 2025.

To learn more about The Home Depot Foundation visit HomeDepotFoundation.org and follow us on Twitter @HomeDepotFound and on Facebook + Instagram @HomeDepotFoundation.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 130 B - -
Net income 2021 12 749 M - -
Net Debt 2021 27 357 M - -
P/E ratio 2021 23,1x
Yield 2021 2,20%
Capitalization 294 B 294 B -
EV / Sales 2021 2,47x
EV / Sales 2022 2,47x
Nbr of Employees 415 700
Free-Float 60,1%
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 306,37 $
Last Close Price 273,19 $
Spread / Highest target 28,1%
Spread / Average Target 12,1%
Spread / Lowest Target -23,1%
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Managers and Directors
NameTitle
Craig A. Menear Chairman & Chief Executive Officer
Edward P. Decker President & Chief Operating Officer
Richard V. McPhail Chief Financial Officer & Executive Vice President
Matthew A. Carey Chief Information Officer & Executive VP
Paul Antony Senior Vice President-Technology
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