2 Insights from The Home Depot’s Q1 2023 Earnings
The Home Depot shared their progress in the quarterly earnings transcript for Q1 2023, available here. Here are couple of insights that could be valuable if you want to prospect The Home Depot for your SaaS solutions.
Insight Showcase: Product Catalog, Recommendation Systems, CX, Inventory Management and Pricing
Insight Showcase: Employee Experience, Employee Engagement, Customer Experience
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Why research The Home Depot?
Getting The Home Depot logo as a customer on your website is a prized possession for many salesfolk. If you’re in supply chain or procurement tech, you should be selling to The Home Depot.
Naturally, SDRs, BDRs and AEs in such industries for whom The Home Depot is a target account, research the company including its quarterly or annual earnings, 10K / 10Q, press news, job listings and other information before doing the outreach.
Who should research The Home Depot?
The Home Depot’s scale of operations make it a good fit for many B2B products. But, you should research The Home Depot if you are selling:
- a product that looks into the supply-chain AI and efficiency
- procurement intelligence
If you are an SDR for one of these products, you need insights from The Home Depot’s strategies that show the efficiency of your product. B2Brain’s machine learning has compiled these highlights from The Home Depot’s Annual Reports, Press Releases (and other sources) that can significantly improve your pitch.
The Home Depot reported strong earnings for the fourth quarter of 2021, with net income of $3.8 billion, or $3.29 per share, up from $3.6 billion, or $3.11 per share, in the same quarter last year. Revenue for the quarter was $32.7 billion, up from $30.8 billion in the fourth quarter of 2018. The company attributed the strong results to its focus on online sales and customer service.
Logistics and Supply Chain insights about The Home Depot
Some updates on The Home Depot’s supply chain and logistics strategy:
- There might be a window of opportunity for investments in supply chain upgrades as The Home Depot appoints a new EVP of Supply Chain and Product Development- John Deaton
Home improvement retail giant The Home Depot, whose corporate headquarters are in Cobb County, announced in a press release that it has named John Deaton executive vice president of Supply Chain and Product Development, effective November 1. Deaton has been with The Home Depot for 14 years, and his most recent position was senior vice president of Retail Operations which he began earlier this year after serving as senior vice president of supply chain since 2017.
- Sourcing and Quality Assurance – The Home Depot sources materials and products from several countries and expects its suppliers to comply with responsible sourcing standards they have set. Solutions that provide visibility on supplier processes across geographies and enable them to comply with The Home Depot’s standards might be valuable for The Home Depot to consider.
The Home Depot Annual Report 2021
- Supply Chain Optimisation – The Home Depot is optimizing its supply chain using technology. They are also making their supply chain equipment more environment friendly by using electric vehicles and hydrogen fuel cell vehicles. Innovative solutions for supply chain might find favor with The Home Depot given their focus on technology investments.
- “Through our supply chain initiatives such as space sharing and optimization technology, we are working to maximize our use of every mile to make our supply chain more efficient. We also utilize hydrogen fuel cell technology in our forklifts and have started piloting electric 18-wheelers for deliveries to make our supply chain even more environmentally friendly.”
- “SBTi Goals. In fiscal 2021, we announced a new goal to adopt new Science Based Targets Initiative (SBTi) goals to reduce Scope 1, 2 and 3 emissions in line with Paris Agreement goals by the end of fiscal 2023. This builds on our current science-based goals to reduce Scope 1 and 2 carbon emissions 2.1% per year, to achieve a 40% reduction by the end of fiscal 2030 and 50% by the end of fiscal 2035.”
Want more The Home Depot insights tailored to your product?
To get to the perfect pitch, insights are not enough. And to convert a prospect, you need a lot more. You need latest insights, the right decision-makers and their contact info, talking points that help your product be relevant. B2Brain delivers all of this (and more) in a neatly packed format right to your CRM.
How would you like to use insights from 10s of The Home Depot’s annual reports to fine tune your pitch for Paul or Erin?
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This bodes the question – why only The Home Depot? Why not research Walmart, Target, Kroger and other national retailers? Try them all from here.
