The retailer’s recent acquisition of building supply distributor GMS is another sign Home Depot is going after the big guys — think entire home construction instead of bathroom renovations.
It’s the first time the home improvement retailer posted gains in two years. This is partly because homeowners are renovating instead of shopping for a new home.
When people buy new homes, they buy a lot of other things too, like furniture, appliances and electronics. When home buying slows, that can have a real ripple effect on other industries.