The housing bust was certainly unpleasant for Frank Blake. As CEO of Home Depot (HD, Fortune 500), the world's largest home-improvement retailer, he had to lay off 11,000 employees and sell or shut down parts of the business. Revenues still haven't recovered, yet the stock has roared past its 1999 high, thanks in large part to Blake's focus on retailing's nuts and bolts: customer service, a revamped supply chain, and disciplined use of capital, which has actually diminished as profits have risen. The 64-year-old Blake -- who had never held profit-and-loss responsibility before taking Home Depot's helm -- talked recently with Geoff Colvin about winning online, why the company has virtually stopped opening new U.S. stores, differentiating from Lowe's (LOW, Fortune 500), and much else.
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Housing is back - and so is Home Depot - Sep. 19, 2013
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