By BRIAN LEAHY
of The Gazette
Home Depot, the world's largest home improvement specialty retailer and the third largest retailer in the U.S., is looking to set up shop in the village of Plover.
The Atlanta, Ga.-based corporation is "seriously interested" in coming to Plover and has filed preliminary plans to develop a vacant lot immediately to the east of Menards, said Oliver Merriam, village of Plover administrator.
Plans call for a 90,000-square-foot building. The Plover Plan Commission will conduct the site review process, including preliminary and final reviews.
"It will probably be on the agenda more than once," Merriam said.
The Village Board could review any final Plan Commission recommendations. The Utilities Committee could also look at utility service to the site.
Home Depot officials have said they would like to start building in the spring, Merriam said.
The Plover store could employ about 200 people, including both full-time and part-time workers.
"Home Depot stores cater to do-it-yourselfers, as well as home improvement, construction and building maintenance professionals," according to a company overview on its Web page. Each store stocks about 40,000 to 50,000 kinds of building, home improvement and lawn and garden products. Stores offer a variety of services, including free design and decorating consultations, truck and tool rental, home delivery, free potting and free in-store clinics on do-it-yourself skills.
Home Depot stock is publicly traded (NYSE:HD) and is included on the Dow Jones 30 Industrial Index and the Standard & Poor's 500 Index.
The first three Home Depot stores opened in Atlanta in 1979, with 200 associates and $7 million in sales. In 1990, Home Depot had grown to 145 stores, 21,500 associates and $3.8 billion in sales. In 2000, Home Depot had 1,123 stores, 226,000 associates and $45.7 billion in sales. Corporate officials expect fiscal 2001 sales to approach $53 billion.
The company plans to double its size to $100 billion in revenues by 2005, through a combination of gross margin expansion and expense control. Home Depot plans to open about 200 stores each year for the next three years, company officials said. Home Depot expects to operate more than 2,300 stores in the U.S., Canada and Latin America by the end of 2004.
Chief Executive Officer and President Bob Nardelli told company investors at the November annual meeting that Home Depot has "embarked on a transformation." In addition to expanding stores, the company will seek new relationships with homebuilders, commercial and industrial customers. The company recently announced a pilot program with ServiceMaster to offer lawn care, pest control and other services through Home Depot stores.