While only investing in companies that have been raising dividends for 10 or more consecutive years has been the mantra continuously espoused here, I do not mean to imply you cannot cast a sideward glance at a company such as Home Depot. (Home Depot can only claim 9 years).Offering a variety home improvement material to the retail and professional channels, this retail behemoth has 2,300 stores offering 30,000 products in-store and 1 million products online. As a result, it is the largest home improvement retailer in the world. This massive scale is a key source of competitive advantage for the company, providing not only a variety of choices but also competitive prices, both of which are key decision drivers for consumers. Home Depot leverages its size to negotiate low prices with suppliers in much the same way other large retailers, such as Walmart, do and thereby can spread its fixed costs across a large inventory of product, thereby reducing the cost of goods sold factor on a per item basis. The company’s “One Home Depot” strategic plan is aimed at building omnichannel capabilities and focused on delivering an interconnected shopping experience. Under the plan customer navigation through store aisles is enhanced and results in… Read full this story
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