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Entries in Home Depot (4)

Wednesday
Oct262011

How Does Walmart’s Price Match Measure Up with Other Retailers?

Justin Sullivan/Getty Images(BENTONVILLE, Ark.) -- Walmart has announced that it’s beefing up its price matching policy for the holidays, but is the company’s new policy any better than what competitors are offering?

The temporary price-matching policy will give customers a store gift card for the difference of any eligible product purchased from Nov. 1-Dec. 25 that is found at another store for a lower price.

“The great gift we can give our customers this holiday is great low prices on the things they want most,” Duncan Mac Naughton, chief merchandising officer of Walmart U.S., said in a statement.  “Walmart is easing shopping stress this Christmas by allowing customers to shop when and how they want, all while guaranteeing low prices through the entire holiday season.”

The move comes as the 2011 holiday season, which accounts for a good portion of retailers’ annual revenue, is ramping up.

But price-matching is not new to Walmart or other big retailers.  Numerous retailers like Target, Sears and Best Buy have price matching policies in place year-round.

With holiday shoppers expected to be tight-fisted this year, price matching is one way to lure consumers to retailers.  So as retailers duke it out for the projected $465 billion in retail sales, here’s a match up of pricing policies at some of the nation’s top retailers:

-- Staples
“If you find a lower price anywhere else on a new identical item, just show us the lower price when you buy the item at Staples and we will match the price, or within 14 days of your Staples purchase and we will give you the difference,” according to the website.

-- Target
“If you find an item in a competitor’s printed ad that is priced lower than it is at your Target store, we will match the price. The competitor’s ad must be local and current, and the product must be the identical item, brand name, quantity and model number,” according to the company’s website.  Customers have within seven days of purchase to make a claim.  Target.com, the online entity of the company, is excluded from price matching.

-- Sears
“If you find a lower price on an identical branded item with the same features (in Consumer Electronics identical brand and model number) currently available for sale at another local competitor retail store, Sears will match that price plus give you 10% of the difference. Just bring in the original advertisement to a sales associate at the time of, or within 14 days after, your purchase,” according to Sears.com.

-- Best Buy
“Best Buy will match the price if you find a lower price on an identical available product at a local retail competitor’s store, a local Best Buy retail store or BestBuy.com. Simply let us know when you are making your purchase or during the return and exchange period. Perfect Match Promise products have an extended 60-day price match period,” according to the company’s website.

-- Amazon
“With the exception of TVs, Amazon.com doesn’t price-match with other retailers (including those who sell their items on our website). We do, however, consistently work toward maintaining competitive prices on everything we carry,” according to Amazon.com.

-- Home Depot
“If you find a current lower price on an identical, in-stock item from any local retailer, we will match the price and beat it by 10%. Excludes special orders, bid pricing, volume discounts, open-box merchandise, labor and installation, sales tax, rebate and free offers, typographical errors and online purchases,” according to the company’s website.

-- Lowe’s
“If you find a lower everyday price on an identical item at a local retail competitor, just bring us the competitor’s current ad and we’ll beat their price by 10%. If a competitor is offering a percent off discount, we’ll reduce our current price by the same percentage discount that the competitor is offering,” according to the Lowe’s website.

Copyright 2011 ABC News Radio

Thursday
Jun302011

Home Depot Accused of Violating 'Buy American Act'

TIM SLOAN/AFP/Getty Images(WASHINGTON) -- Home Depot is the target of a lawsuit for allegedly selling goods manufactured in China and other prohibited countries to U.S. government agencies in violation of the Buy American Act, according to court documents.

The suit was filed in 2008 by two employees of another government contractor and alleges that "Home Depot had major sourcing operations in China for many years," as well as India, and that the company knew that certain brands and products were to be excluded from sale to U.S. government agencies because they were not compliant with the Trade Agreements Act.

The suit also says, "Home Depot affirmatively misrepresented to federal government customers that its GSA-scheduled contract 'covered everything in our store.'"

GSA is the federal General Services Administration, which supplies products for U.S. government offices.

The Buy American Act and Trade Agreements Act work together to promote the purchase of U.S. goods or goods manufactured in countries when it serves the nation's economic interest.

The Atlanta-based home improvement retailer, with more than 2,200 locations in four countries (including China), denies the allegations.

"We would never knowingly sell prohibited goods under any circumstances, and we have been cooperating with the government to provide requested information," Home Depot spokesman Ron wrote in a statement.  "We believe the plaintiffs have an inaccurate view of the facts, so we look forward to presenting our side of this case as the process moves forward."

The plaintiffs' attorney, Paul D. Scott, said, "We're looking forward to having our day in court and having a jury of American citizens decide what they think of this case."

The U.S. Department of Justice had no comment about the allegations.

Copyright 2011 ABC News Radio

Wednesday
Apr132011

Top 10 Companies Hiring for Job Seekers

TIM SLOAN/AFP/Getty Images(NEW YORK) -- With the U.S. economy gaining some traction at long last, big companies that had all but halted hiring in the past few years seem to be coming back in a big way by adding thousands of jobs.

McDonald's, Intel and Google are three of the 10 companies featured by online publication 24/7 Wall Street in a study of companies that are hiring this year.

The study by the publication and employment consulting firm Challenger Gray & Christmas analyzed data from the past year to create a list of companies that are adding the most jobs.

Take a look at the top 10 companies hiring:

1. Home Depot Increase: 60,000

The building supply company is gearing up for its booming sales season by adding seasonal and full-time employees.

2. McDonald's Increase: 50,000

The fast-food company will begin its new campaign to redefine the "McJob" by hiring thousands of workers in positions that range from entry level to management.

3. Lowes Increase: 10,000

In January, the company announced plans to add 8,000 to 10,000 to hourly and part-time jobs, mostly on weekends.

4. Ford Increase: 7,000

The company announced it will add 7,000 hourly and salaried positions over the next year in positions ranging from engineering to manufacturing.

5. Google Increase: 6,200

Earlier this year, the internet search giant announced plans to boost its workforce by about 25 percent.

6. Intel Increase: 4,000

The CEO of Intel, Paul Otellini, announced plans to add 4,000 U.S. jobs this year in product development and research and development.

7. Quintiles Increase: 1,700


The pharmaceutical company continues its hiring plans despite layoffs earlier this year.

8. Amazon.com Increase: 1,600

The mammoth online retail giant plans to add 1,600 jobs to its payroll.  The online shopping Web site has openings for software developers and advertising salespeople in its careers section.

9. YRC Worldwide Increase: 1,100

The transportation provider announced an initiative to hire more sales professionals in the U.S.

10. Wells Fargo Increase: 1,000

The banking institute is adding positions in the Maryland, Washington, D.C. and Virginia area for jobs that range from teller to store manager at the previously acquired Wachovia bank.

Copyright 2011 ABC News Radio

Tuesday
Feb222011

Home Depot Reports 72 Percent Increase in Fourth Quarter Earnings

Photo Courtesy - Tim Sloan/AFP/Getty Images(ATLANTA) -- Home Depot came out with its latest financial report Tuesday, showing an increase in net earnings by 72 percent in the fourth quarter.

The world's largest home improvement retailer said earnings went up to $587 million, or 36 cents per diluted share, for the three months ended Jan. 30, compared to the $342 million it earned in the same time period the year before.

The retailer also said sales increased by 3.8 percent to $15.13 billion in the fourth quarter, up from $14.57 billion in the same quarter the previous year.

"In 2010, we continued to invest in our business and made solid progress against our key initiatives," Frank Blake, chairman and CEO of Home Depot, said.  "We completed the rollout of our Rapid Deployment Centers, an important part of our distribution network; we saw year-over-year improvement in customer service ratings; and we continued progress on our merchandising transformation.  Our actions, coupled with an improving economy, resulted in positive sales growth for the year, the first time since 2006."

Copyright 2011 ABC News Radio







ABC News Radio