Home Depot sets $101 billion goal

Home Depot (NYSE:HD) is striving to reach $101 billion in sales by 2018, largely through North American stores and online efforts.

Home Depot boasts a 15 percent market share in the United States and is the largest home improvement retailer in Canada and Mexico, according to the company. The retailer has plans to build on this market dominance, CEO Craig Menear said at the company's 2015 investor and analyst conference.

The focus will be on streamlining digital sales platforms. Already, Home Depot is on track to grow online sales by about $1 billion in 2015, Fox Business reported.

Online sales are currently 5 percent of Home Depot's total sales, and garnered about 1.5 billion customer visits this year.

"We have to continue to connect our stores to our website and our website to our stores," Menear said. Home Depot plans to make "significant investments" to update digital services.

In September, Home Depot opened a third direct fulfillment center to support e-commerce.

For more:
-See this Fox Business article
-Read this story in Chain Store Age

Related stories:
Home improvement stores rank No. 1 for smart home products
Lowe's revamps B2B site
Sneak Peek: Lowe's new NYC urban-format
Home Depot's e-commerce exceeds $1B
Lowe's buys 13 former Target Canada locations

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