Acquisition Details - Home Depot has completed the acquisition of SRS Distribution for an enterprise value of $18.25 billion, including net debt, funded through cash and debt [1] - This acquisition is expected to expand Home Depot's total addressable market (TAM) to $1 trillion, an increase of $50 billion [1] Strategic Growth Initiatives - Home Depot is executing its "One Home Depot" investment plan, focusing on supply-chain facilities, technology investments, and enhancing the digital experience [3] - The interconnected retail strategy has consistently boosted web traffic over the past few quarters [3] Performance of Pro Segment - The Pro segment has been a key growth driver, with robust sales growth observed over the past several quarters [4] - In Q1 fiscal 2024, Pro and DIY sales were nearly aligned, with Pro backlogs remaining healthy compared to historical trends [5] - The company is investing in Pro capabilities, including enhanced fulfillment and personalized online experiences, to deepen engagement with Pro customers [5] Market Reaction - Following the announcement of the SRS Distribution acquisition, Home Depot's shares rose by 1.3% [2] - Year-to-date, Home Depot's shares have rallied 17.4%, outperforming the industry growth of 11.3% [2]

ATLANTA, June 18, 2024 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, has completed the acquisition of SRS Distribution, Inc. ("SRS") for a total enterprise value of approximately $18.25 billion. SRS is a leading residential specialty trade distribution company across several verticals serving the professional roofer, landscaper and pool contractor. The agreement to acquire SRS was announced on March 28, 2024. "SRS is an excellent fit for The Home Depot – it's both complemen ...

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Can Home Depot still deliver returns for investors?Home Depot (HD -0.30%) has succeeded by becoming a go-to supplier for construction, repair, and remodeling projects for individuals and businesses. Founders Stanley Marcus and Arthur Blank succeeded by bringing together home improvement-related needs, such as lumber, plumbing, electrical, flooring, and other product lines under one roof.Over time, this approach made it the world's largest home improvement retailer. However, growth has slowed in recent years ...

Home Depot stock is a staple in many portfolios, so let's see where it stands in a challenging macroenvironment.The housing market has cooled, along with Home Depot's (HD -0.30%) stock, but the world's largest home improvement retailer is preparing to complete an $18.25 billion acquisition of SRS Distribution, a building products wholesale distributor, to bolster its future growth.As Home Depot shareholders wait for the deal to go through and the housing cycle to turn around, the company will continue to pa ...

The Home Depot Inc. (HD) looks well-poised for long-term growth on its ongoing investments to strengthen its business despite the recent softness in demand trends across the home improvement industry. Home Depot is witnessing significant benefits from the execution of its strategic initiatives and commitment to investing in the business to deliver the best interconnected shopping experience, capture wallet-share with the Pro, and expand its store footprint.The company is on track with the execution of the “ ...

Home Depot (HD) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this home-improvement retailer have returned +1.5% over the past month versus the Zacks S&P 500 composite's +4.2% change. The Zacks Building Products - Retail industry, to which Home Depot belongs, has lost 0.1% over this period. Now the key question is: Where could the stock be headed in the near term?Alt ...

ATLANTA, June 14, 2024 /PRNewswire/ -- The Home Depot® (NYSE: HD) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with its pending acquisition of SRS Distribution Inc. ("SRS"). The expiration of the waiting period occurred at 11:59 p.m. on June 13, 2024.The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction.The transaction is expe ...

It has been about a month since the last earnings report for Home Depot (HD) . Shares have lost about 1.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Home Depot due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Home Depot Q1 Earnings Surpass, Sales Miss Estim ...

Investors can expect this dominant retailer to maintain its industry-leading position.In the past five years, shares of Home Depot (HD 2.51%) produced a total return of 90%. This is a respectable gain. However, it lagged the 102% total return of the S&P 500. It doesn't help that Home Depot currently trades 20% below its peak price.Investors are probably wondering what the future holds. Where will this top retail stock be in five years? Let's seek to find out.Getting back to growthDuring its fiscal 2024's fi ...