Home Depot to Add 200 Rental Departments in ‘03

Feb. 5, 2003
Home Depot expects to add about 200 more rental departments in North America in its 2003 fiscal year, which begins this month, director of tool rental

Home Depot expects to add about 200 more rental departments in North America in its 2003 fiscal year, which begins this month, director of tool rental Tom McCormick toldRER last week.

“We’re getting more aggressive in tool rental expansion,” McCormick said. “Our customers love it and are coming to expect it, it’s a very good business for us. It draws customers and promotes one-stop shopping for our customers, so professional and do-it-yourself customers can get merchandise as well as rent tools.”

McCormick said about 70 percent of the new stores Home Depot adds this year will have tool rental departments, and close to 100 percent of the roughly 200 stores it plans to open in fiscal 2004 will offer tool rental. Home Depot now has about 585 tool rental departments out of about 1,450 stores in Canada, Mexico and the United States, he added.

McCormick also said Home Depot will add rental departments to already existing stores in some locations.

Atlanta-based Home Depot Rentals is No. 11 on the RER 100.