Home Depot builds on pros

Here’s the compelling math behind The Home Depot’s effort to embrace the pro customer: Pros account for 4% of total Home Depot customers and 30% of total Home Depot sales.

Clearly, these are customers that the world’s largest home improvement retailer wants to impress. The Home Depot has known for years the importance of its pro customer, but something’s different at Home Depot these days, and the difference begins with three little words: “First for Pro.”

Read the rest of the article (as reported by Home Channel News)

Costco executive ready to take helm as CEO

A major reason Jim Sinegal is retiring as CEO of Costco Wholesale on New Year’s Eve, one day before he turns 76, is his complete faith in his successor, Craig Jelinek. “He understands this business backwards,” Sinegal said. “He understands it better than I do. He’s hardworking, he’s intelligent, he’s well-liked, he’s respected, he’s fair — all the things you want from a manager.”

Jelinek’s background also resembles Sinegal’s. Both attended San Diego State University and spent years working for Sol Price at Fed-Mart; Jelinek joined Costco just months after Sinegal and Jeff Brotman opened it in 1983.

Read the rest of interview (as reported by The Seattle Times)

Retiring CEO of Costco takes a look back on his legacy

On New Year’s Eve, Costco Wholesale co-founder Jim Sinegal will step down as CEO. He will hand off the job he loves and his open-walled office to Craig Jelinek, a veteran Costco executive whom Sinegal considers “almost a founder.” He will turn 76 on New Year’s Day and stay for a yearlong transition before retiring to just the board of directors.

As Sinegal’s days of wearing the silver ID badge reserved for 25-year employees wane, he talks about how it all started, companies staying true to themselves and why he was willing to spend $19 million to kick the state out of the liquor business.

Read the rest of his interview (as posted by The Seattle Times)