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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways.
Home Depot (HD) : Cramer spoke with Carol Tomé, CFO of Home Depot, a 15-year veteran in the home-improvement space and someone Cramer called "the best in the business."
Tomé said that Home Depot has only been selling holiday items since 2006, but this year it will sell over 2.8 million Christmas trees and more than eight million poinsettias -- and expects to have a knockout Black Friday.
Tomé added that the secret to Home Depot's success has always been talking to consumers and giving them what they want. In the past, growth was driven by opening new stores and adding square footage, but today, she said, the company doesn't need new stores and instead focuses on offering new products and services at the stores they already have.
Home Depot continues to invest in the categories that are working the best, such as appliances, and where they are continuing to take share from rivals, Tomé said.
Cramer asked what keeps Tomé going after decades in the business.
She said that doing what she loves has been key to her success. Adding to that success has been working with an amazing team and speaking with experts in the business, all to help formulate an informed point of view on where the industry is headed.
Tomé said that when home prices are rising, people view their home as investments and are willing to spend more on them.
She said she does not see the election results has having a material impact on Home Depot's forecasts.
When asked about growth, Tomé said that the total addressable market in the U.S. is $550 billion and Home Depot only has a 20% share, leaving lots of room for growth. She was also bullish on the company's business in Mexico.
Cramer and Tomé also discussed Home Depot's commitment to shareholders: The company has purchased over $65 billion worth of its own shares, and is committed to helping the communities it serves, with rapid responses to hurricanes and other natural disasters.
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