Business Services Industry
Defying economy, bolder retailers plan to expand; Home Depot, H&M, Duane Reade take long view; will more stores erode success?(Brief Article)
Crain's New York Business, January, 2002 by Curan, Catherine
Late last month, while many retailers suffered through the worst holiday selling season in 11 years, The Home Depot Inc. threw itself a party. At the sprawling new 158,000-square-foot Cropsey Avenue store in Brooklyn, the chain's 10th New York City unit, Chief Executive Bob Nardelli covered his navy suit with a bright orange apron proclaiming, ``Home Depot [broken (vertical) bar] NY.'' He told a cheering crowd of workers, ``We cast our vote for the city of New York-a strong vote for the future.'' These festivities were only the beginning.
Home Depot plans to open four more local stores by the end of the year and expects to operate 20 locations in New York City by the end of 2004. The $45.7 billion retailer counts New York as its strongest market and remains...
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