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They Were Fired, Then a Billionaire Investor Helped Them Build Home Depot

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Ever wonder how Home Depot Inc. (HD) - Get Report got its start?

You might be surprised to learn that the founders actually got fired from their job at a home improvement center. But, they got a second chance when they teamed up with billionaire investor Ken Langone to finance Home Depot.

Home Depot was co-founded by Bernard Marcus, Arthur Blank, Ron Brill, and Pat Farrah in 1978.

Today, Home Depot has over 2,000 stores.

On February 25, 2020, Home Depot posted stronger-than-expected fourth quarter earnings, and reiterated its full-year sales forecast, as same-store sales topped forecasts for the holiday period.

Home Depot said earnings for the three months ending on February 3 were pegged at $2.28 per share, a modest 1.33% gain from last year but fully 18 cents ahead of the Street consensus forecast.

Group sales, Home Depot said, slipped 2.6% to $25.8 billion, just ahead of analysts' forecasts of a $25.76 billion tally,, but the company noted that an extra week in the 2018 fiscal year added $1.7 billion to the comparable total. 

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