ICS Magazine

Home Depot service revenue up 27 percent in Q2

August 26, 2002
ATLANTA, Aug 26 (Reuters) - Home improvement retailer Home Depot Inc.'s service revenues rose 27 percent in the second quarter, the company said on Monday.

In a filing with the Securities and Exchange Commission, Home Depot said revenues from its installation and home-maintenance programs came to $500 million in the quarter ended Aug. 4, compared with $395 million in the year-earlier period.

Home Depot offers installed sales programs for a variety of products such as ceiling fans, windows and kitchen cabinets. Under these programs, consumers select and purchase materials and the company provides professional installers.

The programs are offered as part of Home Depot's bid to expand sales to customers who want to take on improvement projects but do not want to do the work themselves, a market Home Depot has said is valued at $180 billion.