Home Depot is enduring a housing-cycle slump while transforming into a higher-moat Pro distribution powerhouse built for the next repair-and-remodel upturn.
Overview
Home Depot is the world’s largest home improvement retailer, serving DIY homeowners and professional contractors through 2,361 stores and more than 1,280 SRS Distribution locations. The company is navigating weak housing turnover caused by high mortgage rates by pivoting toward the Pro market, where aging homes create recurring repair demand. Its competitive edge rests on scale, product breadth, digital integration, exclusive brands, and an increasingly powerful Pro ecosystem spanning credit, delivery, specialty distribution, installation, and rentals.