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ºÚÁϳԹÏÍø Depot has agreed to acquire specialty building products distributor GMS for $4.3 billion, its latest effort to grab more spending from professional contractors.

QXO won’t raise its $5 billion offer for building products distributor GMS after ºÚÁϳԹÏÍø Depot reportedly made its own bid.

ºÚÁϳԹÏÍø Depot has made an offer for GMS, potentially setting off a bidding war with QXO, which this week made a $5 billion offer for the building products distributor.

ºÚÁϳԹÏÍø Depot’s revenue climbed in the first quarter as customers spent slightly more as they tackled smaller projects.

Lowe’s has agreed to buy an interior services provider for around $1.3 billion, the retailer’s latest effort to expand its footprint with professional contractors amid a soft housing market.

ºÚÁϳԹÏÍø Depot broke a two-year slump in same-store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates.

Value was in vogue in 2024. Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices.

ºÚÁϳԹÏÍø Depot continued to deal with a pullback in spending from customers in fiscal Q3, but it was less severe than in the past, and its performance beat Wall Street’s expectations.

ºÚÁϳԹÏÍø Depot’s Q2 sales rose slightly as the retailer benefited from an $18 billion acquisition this spring, but customers continued to rein in spending.

ºÚÁϳԹÏÍø Depot will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion.