Home Depot Press release - MORE RIDGID TOOLS

[woodworkerjake]

I came across this press release. Looks good for folks who like ridgid. I was also meandering over Home Depot's financial reports from 2002 today. 2003 is not available yet.

It was actually interesting. Home depot apparently realized that they have a very large captive audience of professional's / carpenters / plumbers / etc. using their store for their work. The Ridgid tool line is to try to use use this captive audience to gain market share. Considering this, the initial Push to get alot of their tools into the hands of professionals is a great marketing idea and my guess is that they will fix theri customer service to keep these folks happy.

From reading the annual report, it looks like Home Depot is not as focused on the home do it yoruselfer as much because we are less profitable. Considering this information, I would guess that they're going to make decent quality tools and service them. Again, time will tell, but it was an interesting read. I just breezed through it. I will print it out and read more thoroughly lately.

Jake

Here's the press release
http://biz.yahoo.com/rc/040128/retail_homedepot_1.html

[kbrandon]

This may be unrelated, but I also noticed something else today @ HD. They are offering extended warranties on some (maybe all) power tools. Only saw the signs on the Ryobi & Ridgid stuff. According to the sign, it sounds like you can drop off broken tool @ store & they will send it out to be fixed for you.

I have no idea what the cost is for this since the Ridgid drill I bought currently has lifetime warranty.

Kevin

[woodworkerjake]

Was it the one you purchase like the service agreements at Best Buy for cameras and stuff. I saw a sign under drills for this kind of warranty a week ago.

It'd make sense since for quality products, those agreements are pure cash profit machines for the stores that sell them. I just spent 40 bucks for one on my 200 dollar camera. Usually ignore them but this camera gets used daily so I figure it's worth the coinage ;)

Jake

[Mark IV]

The new professional-grade compressors will feature large tanks, and tool boxes of various sizes will also be rolled out at Home Depot stores during the first quarter, company executives told Reuters. Other new Ridgid brand products are planned later in the year, they said.
Mmmm... compressors. smile.gif

[Mike3206]

Great, now we get to stare at a big orange toolbox and a big orange compressor tank :rolleyes:

[woodworkerjake]

Hey mike

You'll be happy to know that Big orange is gonna be everywhere.. LOL. I was reading that in their annual report. They're proud and want to show it loud.

:eek:

Jake

[daveferg]

Kbrandon----if that's the case, they stole my idea. :mad: Said they should do that exact thing 2-3 months ago----of course, have to admit I stole the idea from Radio Shack. :eek: