While certain segments within retail are burning through cash, the landscape as a whole is not a wasteland. Leading home improvement retailers are among the best performers among legacy brick-and-mortar stores.
“They were in the right place at the right time,” said Sucharita Kodali, a retail analyst at Forrester.
Home Depot, Lowe’s and Ace Hardware all reported first-quarter sales growth, demonstrating that some companies continue to thrive during a difficult time for the industry.
Home improvement retailers benefitted from consumers investing more time and money in home improvement projects—a side effect of stay-at-home orders.
“We’re
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