Executive Summary

Home Depot held its annual Investor and Analyst Conference on December 6 in Boston, MA.

• The company reaffirmed its fiscal 2017 financial guidance. It expects total sales to increase by 6.3% year over year and comparable sales to increase by 6.5%.
• Management discussed three main strategic priorities: enhancing the customer experience, positioning for the future and creating value for shareholders.
• The retailer plans to accelerate investments in its business over the next three years as it pursues a new target of almost $120 billion in annual sales.
• Home Depot plans to increase investment in its supply chain and delivery capabilities, employees, stores, online business, and customer experience. The company is investing $1.2 billion in its supply chain from 2018 to 2022.
• Management said it will increase annual capital expenditure through 2020 to a level that represents about 2.5% of sales, above the 1.7%–1.8% average over the past four years.
• The company announced a $15 billion share repurchase program that will replace its previous authorization.