ATLANTA — Home Depot president Robert Nardelli told Wall Street analysts that the company plans to expand its tool rental program to more than 1,300 stores by the end of 2004, adding a larger array of offerings for rent.
The increase in rental departments is part of an overall strategy that will slow the number of store openings. Nardelli said he expects to open 184 traditional Home Depot branches in 2002, focusing those stores in the top 100 metro areas in the United States. He said Home Depot will also open 10 Expo Design Centers, four Home Depot Pro stores and a test of Home Depot Urban, a smaller store, in Boston and suburban Chicago.
Tom McCormick, president of Atlanta-based Home Depot's rental division, told RER that the company currently operates 451 tool rental centers. Home Depot Rentals is No. 13 on the RER 100.