ATLANTA — The Home Depot Inc., the world’s largest home improvement store chain, said Monday it will consider shedding its division serving contractors, homebuilders and other business customers, distancing itself further from the strategies advanced by former Chief Executive Bob Nardelli. Its shares rose more than 2 per cent in early trading.The Atlanta-based company said it may sell or spin off its wholesale distribution arm, Home Depot Supply.Frank Blake, the current chairman and CEO of The Home Depot, said the company wants to concentrate more on its retail business.

Just last year, Home Depot announced it had completed its $3.2-billion purchase of Orlando, Fla.-based Hughes Supply Inc., a distributor of construction, repair and maintenance products.

The deal, Home Depot’s largest acquisition ever, doubled the size of HD Supply division, which serves business customers including municipalities and maintenance professionals.

The division was seen as a big opportunity for growth by former Mr. Nardelli, who resigned in early January after six years at the helm of Home Depot.

Mr. Nardelli had said repeatedly that he believed the company’s strategy under his watch did not need changing. But earlier this month, the company said it is giving a seat on its board to an investment group that wants the company to consider, among other things, a leveraged buyout as a way to generate shareholder value.

The group, Relational Investors LLC, had threatened a proxy fight over the home-improvement company’s strategic direction, part of an undercurrent that led to Mr. Nardelli’s resignation.

Mr. Blake said the announcement regarding Home Depot Supply was part of a strategic review the company conducted in November.

HD supply has annual revenues of approximately $12-billion, has nearly 1,000 locations nationwide and in Canada, and employs more than 26,000 associates, the company said.

Home Depot has retained the investment firm Lehman Brothers as its financial adviser to assist in this process.

Home Depot shares rose 92 cents, or 2.3 per cent, to $41.92 in morning trading on the New York Stock Exchange.