With omnichannel and digital upgrades a priority for retailers, Home Depot (NYSE: HD) has finally said goodbye to a decidedly outdated mode of communication: the fax.
The home improvement retailer has stopped faxing orders to vendors, a practice that had been in place since 1992. Now, the company is making use of its upgraded order-management system which executives are hoping will save money and improve efficiency.
"Obviously, there used to be a lot of opportunity for error, so we've eliminated those faxes … and really kind of started to streamline how those orders flow," Home Depot's CIO Matt Carey said on a conference call with investors.
The news comes amid lower-than-expected earnings for Home Depot, which blamed severe winter weather for a lack of interest in home-improvement projects among consumers. Total sales for the first quarter were $19.7 billion, a 2.9 percent increase from $19.2 billion in the first quarter of fiscal 2013. Same-store sales for the first quarter of fiscal 2014 were up 2.6 percent. Story