Home Depot expands fast
Home Depot is opening a dozen new stores across eight states in 2026 and has moved to acquire into a $100 billion market while beefing up its Pro Xtra digital tools for contractors—signaling a bigger bet on pro customers even as analysts stay cautious. BNP Paribas Exane trimmed the stock’s price target amid uncertainty over demand and the pace of the rebound. ( )
The 12-store rollout will add more than 1.6 million square feet of retail space and includes a 146,000-square-foot flagship in Leander, Texas (Store #1348) that will feature full tool-rental capabilities and is expected to create 150+ jobs. (corporate.homedepot.com) Home Depot said over half of its online orders are fulfilled through stores and that the new locations will support fast same‑day delivery and AI-driven logistics, including an in-store navigation tool called Magic Apron. (corporate.homedepot.com) The company expanded its Pro digital workspace with a Project Planning hub and an AI-powered Material List Builder that interprets project intent to generate actionable material lists in seconds. (ir.homedepot.com) Pro engagement on the platform is already sizable: users create more than 10,000 projects per week, and Home Depot has added Blueprint Takeoffs and other AI estimating tools while acknowledging performance gaps in electrical and plumbing categories. (housingwire.com) SRS Distribution, Home Depot’s subsidiary, has agreed to acquire Mingledorff’s, a Peachtree Corners, Georgia wholesaler founded in 1939 that operates 42 distribution locations across five Southeastern states. (ir.homedepot.com) Mingledorff’s reported roughly $1 billion in sales for 2024, and Home Depot says adding HVAC distribution will expand its total addressable market, citing a roughly $100 billion HVAC TAM that pushes Home Depot’s TAM to about $1.2 trillion. (morningstar.com) BNP Paribas Exane cut its Home Depot price target to $348 from $391 and kept a neutral rating on March 24, 2026, a move the firm said leaves only about a 5% upside from the prior close. (streetinsider.com) (marketbeat.com)
