Bob Nardelli Quotations

We are poised for dramatic growth over the next five years across our business. Our planned acquisition of Hughes Supply is a great example of how we are rapidly replicating in the professional market the same type of transformation that we brought to the home improvement retail market.

Tom Taylor brings decades of company and retail experience to his new role. He has touched virtually every part of company and has in-depth knowledge of stores, products, associates, suppliers and customers. Tom has served in numerous leadership roles that have directly influenced merchandising and marketing efforts.

Our initial direct cash contribution to the American Red Cross, The Salvation Army and other emergency management agencies was made to meet the immediate need of those affected communities. With Rebuilding Hope & Homes, we can channel the support of our large and loyal customer base to help fund the largest long-term rehabilitation and rebuilding project in our country's history.

Our thoughts are with everyone who has been affected by this tragic natural disaster. The Home Depot has an extensive history of providing support to our communities as they recover from natural disasters. Through these donations and future volunteer support from our associates, we will continue to play an integral role in our local communities and their rebuilding efforts during the upcoming months. As always, our associates shine their brightest when our communities face their darkest hours.

Retail is a pretty simple business, but what adds complexity is the size and scale. We couldn't do it without technology.

We continue to execute our growth strategy laid out five years ago to enhance our core retail business, extend our business into adjacent areas and expand into new markets.

We will harness and focus the power of the corporate workforce as never before to improve the communities where we live, work and play. We have a powerful resource in millions of people, corporate Americans, who now will have even greater support from their employers to learn to lead volunteer teams and touch countless lives.

We believe strongly in the fundamental strength of Home Depot,

We are evolving into a company with multiple platforms for growth. Over time, we expect an increasing penetration of our businesses in the professional contractor space. Consistent with our growth strategy, you shouldn't be surprised when we make strategic acquisitions like National Waterworks.

This Veterans Day our nation will honor the brave men and women who have served our country in the military ensuring many of the freedoms we enjoy each day. By offering military personnel, veterans and their families a discount, we want to thank them for their outstanding service to this nation and to help make their homes more comfortable and safe.

We thank Dick Brown for his five years of service and leadership, and his expertise in information technology.

We have embarked on a transformation of The Home Depot from a young, decentralized business toward a more mature and balanced company with predictable and sustainable growth potential,

The tough economy has put tremendous pressure on fourth-quarter sales performance and increased competition for share of the consumers' wallets, ... While home improvement is a high priority for our customers, they are also facing immediate and dramatic pressures in a number of areas, including record cold weather and rising energy costs, investment losses, higher interest rates and increasing consumer debt levels.

Our alliance with AARP provides valuable insights into the critical 50-plus consumer segment. With the help of AARP, our newest workshops will address the specific interests of customers 50 and over.

This consolidation is an opportunity for Home Depot to better leverage operating efficiencies as we continue to grow our business,

As we help empower consumers to reduce their energy costs through products and services, we also believe it is right for us to reduce our company's own consumption and help contribute to the country's energy conservation efforts at this time.

It's all about getting more out of our existing assets. It's all about store productivity.

Home Depot is delivering strong financial results, with earnings and cash flow ahead of expectations,

Home Depot, as part of its DNA, really responds to catastrophic events that take place.

The home is the consumer's most important asset. Home ownership continues to grow and is an increasing benefit to us, ... Our (calendar) 2004 plan builds upon a strong strategic base and our financial strength positions us for future growth.

The Home Depot is beginning to gain traction from the transformational initiatives launched last year, ... We introduced new products, increased the overall inventory levels in our stores, and introduced a cohesive, nationwide marketing program. Collectively, these initiatives helped us perform through a tough environment.