01:00 PM EST, 02/27/2025 (MT Newswires) -- (Updates throughout with Home Depot's ( HD ) statement emailed to MT Newswires.)

Home Depot ( HD ) confirmed to MT Newswires Thursday that it plans to invest $1.3 billion in Mexico through 2028 to speed up store openings and improve supply chain capabilities, among other goals.

The home improvement retailer said it plans to increase the number of stores in the country to 165 from 140.

The first stage of the plan will start this year with an initial $200 million investment, the company said.

Bloomberg reported the news earlier.

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