Home Depot won’t jump into Cuban market yet

ATLANTA ― The lifting of the U.S. embargo for Cuba creates opportunities for home improvement, but challenges remain, according to a column in the Huffington Post. About nine out of 10 Cubans own their homes, many of which are ripe for repair, aided by government subsidies for renovations. Home Depot has shown interest in taking advantage of the new regulations, which explicitly permit sales of building materials for private construction. The retailer is a founding member of the new U.S.-Cuba Business Council, and regional export manager Heriberto Correa attended its first meeting in Havana. CEO Craig Menear was cautious, however. “Cuba is an area we’re watching carefully,” he said. “We know at some in time when the environment is right, there’s opportunity for The Home Depot to be there. But we believe that before we go in there, it needs to benefit the people of Cuba.”