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Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe’s Canada, Réno-Dép?t, and Dick’s Lumber). The firm’s stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's primarily targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers, but has expanded its commercial and professional business clients to 25% from less than 20% in the past six years. We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on US Census data and management’s market size estimates.

Home Depot is the world's largest home improvement retailer, with sales of $153 billion for the fiscal year ended January 28, 2024. The company, which is based in Atlanta, sells appliances, tools, paint, lumber, plumbing, electrical, garden and other home-improvement supplies in warehouse-sized stores that average 104,000 enclosed square feet and an additional 24,000 in the outside garden department. About 37% of sales came from building materials (electrical, lumber, plumbing); 33% from decor (appliances, flooring, kitchen, bath, paint) and 30% from hardlines (hardware, tools garden). The company's total selling space is about 240 million square feet. At the end of FY24, Home Depot had 2,335 stores. Approximately 28% of U.S. stores are in California, Florida and Texas. About 8% of the stores are in Canada and 4% are in Mexico. The company's fiscal year ends on the Sunday nearest to January 31. The current fiscal 2025 has 53 weeks.

The major indices are mixed at midday. The Nasdaq is lower with two heavyweights, NVDA and GOOGL, under pressure. The Russell 2000 is up more than 1%. The yield on the 10-year Treasury note is flat at 4.41%. Oil is up 2% at $70 per barrel. Bitcoin has now hurdled $97,000.

FLOOR & DECOR HOLDINGS INC-A has an Investment Rating of SELL; a target price of $87.000000; an Industry Subrating of Low; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Low.