SPECIAL ANALYSIS

The Pro Push Reshaping Home Improvement Retail

Jun. 16, 2026| 10 min. read

Frequently Asked Questions

Answers based on RetailStat's analysis of The Pro Push Reshaping Home Improvement Retail

The DIY surge from the pandemic has normalized, and a locked-up housing market with 3% mortgage holders facing 7% rates has suppressed discretionary renovation spending. Pro contractors, by contrast, have consistent project pipelines regardless of sentiment, making Pro spend structurally more durable than DIY.

Home Depot grew Pro penetration from 45% to 50% of sales largely through acquisition, buying SRS Distribution in June 2024 for about $18.25 billion (its largest acquisition ever) and GMS in September 2025 for $5.5 billion, building a specialty trade distribution business in roughly eighteen months.

Lowe's grew Pro penetration from 19% to 30% of sales, mostly organically, then moved to close the distribution gap with the $1.325 billion acquisition of Artisan Design Group and the $8.80 billion acquisition of Foundation Building Materials — together over $10 billion in deployed capital.

QXO is a distribution company built from scratch by Brad Jacobs starting in 2024, targeting the estimated $800 billion building products distribution market. It acquired Beacon Roofing Supply ($11 billion) and Kodiak ($2.25 billion), with a pending $17.70 billion TopBuild acquisition, aiming for $50 billion in revenue.

RetailStat flags three variables: integration execution (Lowe's leverage rose to 3.1x following its acquisitions), a continued housing market recovery that both retailers need for full upside, and QXO's acquisition pace, which could turn it from a neutral distribution partner into a direct competitor for the same contractor relationships.

Related Tags
#ProContractorRetailStrategy#HomeDepotLowesQXO#SRSDistributionAcquisition#QXOBradJacobs#HomeImprovementIndustryTrends

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