Home Depot Inc (NYSE:HD) has made a statement outlining that it will be doing all within its means to strengthen its tech background. To achieve its set objective, it has said that it will be focusing on adding more than 1,000 employees to the technology team in the course of this particular year. It is said that the latest move will result in a tough fight between Amazon.com, Inc (NASDAQ:AMZN) and Lowe’s Companies, Inc (NYSE:LOW). Amazon is currently the largest online retailer in the nation.
Basically, Home Depot falls under the few top brick-and-mortar retailers that have succeeded in the tech world and is doing all it can to support its hold in the industry.
A person well conversant with the most recent developments of the company but who wanted his identity kept anonymous has said that the $207.3-billion company managed to grow its sales by up to $101 billion in the previous year. At that point the sales of Lowe’s stood at $68.6 billion for the year.
The home improvement biggie has indicated a significant potential and that was clear by a rise in shares of almost 21% for the previous year. From reports, it ended up outperforming the 11.6% figure which represents the growth witnessed in the industry.
But what could this particular growth be attributed to? An official working with the company has linked it to the efforts by the company to strike a balance between the digital and the physical world and that is of course through the development of the interconnected capabilities.
The pronouncement by Home Depot that it would be increasing the tech team by about 1,000 hires this particular year happens to be its largest hiring plan to this point in time. The best part about the decision to add new members is expected to move quite a long way helping bolster the Home Depot’s already strong tech team and a person well conversant with the matter has disclosed that it will be by more than a third. It is currently employing almost 2,800 technology staff and much more is expected in the near future.