FMP
Mar 28, 2024 11:39 PM - Davit Kirakosyan(Last modified: Mar 29, 2024 5:35 AM)
Image credit: FMP
Home Depot (NYSE:HD) announced its intention to purchase SRS Distribution for $18.25 billion, in what is a significant move to expand its services to professional clientele, including contractors and roofers. This acquisition is a strategic effort by the retail heavyweight to enhance its sales as the home improvement sector experiences a sluggish recovery, primarily due to cautious consumer spending amid ongoing inflation.
The company's traditional do-it-yourself (DIY) market has encountered challenges, prompting a shift in focus towards "Pro-customers" such as professional builders, contractors, and handymen to sustain revenue. Through the acquisition of SRS Distribution, Home Depot aims to widen its market reach by an additional $50 billion, targeting a new total market potential of approximately $1 trillion.
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