Home Depot plans 12 new stores — doubling down on pros

Home Depot named the eight states where its new locations will appear — Texas, Florida, Arkansas, Tennessee, Oklahoma, Utah, Arizona and California — and said the expansion will add more than 1.6 million square feet of retail space. (usatoday.com) The company highlighted a Spring 2026 flagship in Leander, Texas (Store #1348): a 146,000‑square‑foot location with full tool‑rental capability, an expanded garden center and an expected local hire of more than 150 employees. (corporate.homedepot.com) The upgraded Pro digital workspace now bundles Project Planning with the Material List Builder AI and AI‑powered blueprint takeoff services so Pros can generate material lists and turn specs into orders in seconds. (prnewswire.com) New platform features include down‑to‑the‑minute tracking for bulky deliveries, shared access with customizable permissions for crews, and continued enhancements to purchase history and complex order scheduling for multi‑location fulfillment. (prnewswire.com) Strategic distribution moves back the product push: Home Depot completed its SRS Distribution takeover in 2024 and SRS closed on GMS in September 2025, and SRS now plans to acquire HVAC wholesaler Mingledorff’s — a chain of 42 locations — which Home Depot says expands HVAC into a roughly $100 billion vertical and lifts its total addressable market to about $1.2 trillion. (prnewswire.com) On Wall Street, Jefferies reiterated a Buy stance and raised its Home Depot price target to $454 on Feb. 24, 2026, citing consistent comp trends and an early housing recovery; Home Depot’s Q4 2025 adjusted EPS of $2.72 and $38.2 billion in revenue were noted in analyst commentary. (investing.com)