All articles tagged with #home professionals
Lowe's exceeded earnings expectations in Q2, driven by increased demand for home projects and strategic acquisitions, including an $8.8 billion deal to buy Foundation Building Materials to strengthen its professional customer base, with full-year sales outlook raised slightly despite a challenging housing market.
Home Depot is acquiring GMS, a building-products distributor, for about $4.3 billion to expand its offerings to contractors and home professionals, completing the deal by early 2026 after a bidding war with QXO. This move aligns with Home Depot's strategy to focus on professional customers amid slowing DIY sales.
Home Depot is set to open four new distribution centers in Detroit, Los Angeles, San Antonio, and Toronto to cater to home professionals, aiming to boost sales from remodelers and contractors. With a focus on attracting pros who handle larger projects, the company is expanding its capabilities to serve their needs, including offering trade credit, expanding its sales force, and adding digital tools and a loyalty program. As the company aims to return to growth amid a slowdown in home improvement projects, it sees winning more of pros' business as crucial, given their steadier and bigger spending compared to DIY customers.