Chicago, IL, June 29, 2006—A Home Depot executive told analysts at the William Blair and Co., conference here yesterday that the company is making big plans to expand into China.
Frank Blake, executive vice president of new development that the international market Home Depot is most focused on now is China. "Obviously it's a very large market that is growing very dramatically, but it's also a very different market," he said. Because of low labor rates, for example, most homeowners hire others to do their home repairs and remodels. "I remain very optimistic that we'll have a position in China in the not-so-distant future," he said.
