Retail Week Interiors - Home Depot to speed up its store refit plan

US DIY giant Home Depot has announced it will splash out $3.7 billion (£2.01 billion) this year on revamps and maintenance, as well as adding 175 stores to its portfolio.

Home Depot chief financial officer Carol Tome said that following format trials last year, the decision had been taken to accelerate the modernisation programme.

Home Depot executive vice president of merchandising and marketing John Costello said: 'We're making good progress. All stores will be getting new lighting, paint schemes, floor finishes and signing packages within three years. We are developing a shopping experience that addresses customers' aspirations.'