Atlanta, The Home Depot has begun making plans to build stores in China. It currently has two buying offices there and is acquiring other interests. New stores could open as early as 2007, though Bob Nardelli, chairman, president and CEO of The Home Depot, has not committed to a date.
Home Depot has seen increased sales this year. The company forecasts that sales will be up 9% to 12% and earnings will grow 10% to 14%. The company’s stocks are up 30% in the past year. If sales continue at the same rate, Home Depot’s sales will reach $80 billion this year. The Home Depot is the second-largest U.S. retailer behind Wal-Mart.