HBSD January 2026

JANUARY 2026 Volume 52 No. 1

JANUARY 2026 Volume 52 No. 1

THEY’RE EVERYWHERE Around the yard or behind the desk, Next Generation leaders are poised, polished and ready to grow.

01.26 GOLDEN HAMMER AWARDS

26 Innovation, value and shelf appeal are common denominators of the industry’s best new products.

QXO REPORT

30 Founder Brad Jacobs illuminates the path to $50 billion.

TOP WOMEN

32 At Rosebud Building Products, Ellen and Serena Harmon are building something big.

COVER STORY

Gen 20 Next HBSDealer solicited your nominations for high performing next generation talent. The result: profiles of leadership representing the next wave of hardware and building supply industry success.

FROM THE EDITOR

NEWS & ANALYSIS

10 Much ado about pricing

14 Early signals of housing stability 14 Openings, closings and acquisitions 16 Swept into Chapter 11 16 A pet project at Lowe’s

32 MARKET INSIGHTS

33 What’s next for offsite construction IN EVERY ISSUE

8

Here’s what’s online

34 Quikrete Industry Dashboard INSIDE INDEPENDENTS

14

18 Arnold Lumber is ‘Breaking Ground’ all over Rhode Island.

Hardware + Building Supply Dealer (ISSN 2376-5852) is published monthly, except for July/August and November/December, which are double issues, by EnsembleIQ, 8550 W. Bryn Mawr Ave., Suite 225, Chicago, IL 60631. Subscription rate in the United States: $139 one year; $252 two year; $17.85 single issue copy; Canada and Mexico: $189 one year; $359 two year; $21.40 single issue copy; Foreign: $189 one year; $359 two year; $21.40 single issue copy; in all other countries (air mail only).

Digital Subscription: $79 one year; $147 two year. Periodical postage paid at Chicago, IL., and additional mailing offices. POSTMASTER: Please send address changes to HBSD, Circulation Fulfillment Director, 8550 W. Bryn Mawr Ave., Suite 225, Chicago, IL 60631. Copyright © 2025 by EnsembleIQ. All rights reserved.

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6 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

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More Golden, More Hammers HBSDealer.com is the place for products.

Visit the homepage for expanded coverage of Golden Hammer product honorees, as well as noteworthy products from around the industry. And check out Product Central every day in our newsletter. Subscribe at HBSDealer.com/newsletter.

Video Showcase You can see a lot just by watching.

That maxim holds true through HBSDealer’s Video Showcase series. Recent highlights include a yard renovation at Hancock Lumber and a century celebration at Lummus Supply. Visit HBSDealer.com/video.

Tracking the bottom line HBSDealer’s exclusive 10-Q Review measures the performance of 30 leading publicly traded companies in the hardware and building supply industry. See the latest synthesis of earnings reports at HBSDealer.com.

 When you connect with us, you connect with the industry @HBSDealer

8 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

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From the Editor

Much Ado About Pricing

A

ttorneys general in 10 states, we can call them the “pricing police,” recently took Menards to task for a variety of pricing practices.

The Wisconsin-based home center reached a $4.25 million multistate settlement, partly on account of its “11% off everything” promotion that was considered misleading.

(Let’s put that aside for now.)

Tacked on to the list of accusations was a charge of “price gouging during the COVID-19 pandemic.”

One of the attorneys general had this to say: “It is disappointing that Menards took advantage of the fear and uncertainty during the height of the COVID-19 pandemic to jack up prices on consumers.”

Gentle reader, I seek not to disprove the attorneys general’s arguments. Surely, they are honorable people.

But here I am to speak what we all know.

Menards sold products — things like rubbing alcohol, garbage bags, dish soap and neoprene gloves—at a price that their customers were willing to pay.

Menards did this during a time of great confusion, uncertainty and supply chain disruption. Prices go up when supply declines and demand rises.

It’s not a stretch to suggest that, under the conditions of the pandemic, the customers were not only happy to buy those products from Menards, but they were happy to find them available in the first place.

Does this activity from Menards seem criminal?

Who is better to determine the price of a product in good times or in emergency

550 W. Bryn Mawr Ave., Ste. 225, Chicago, IL 60631 (773) 992-4450 Fax (773) 992-4455 www.HBSDealer.com BRAND MANAGEMENT SENIOR VICE PRESIDENT John Kenlon (516) 650-2064 jkenlon@ensembleiq.com EDITORIAL EDITOR-IN-CHIEF Ken Clark kclark@ensembleiq.com EDITOR Robby Brumberg rbrumberg@ensembleiq.com

Ken Clark, Editor-in-Chief

situations? Menards, with its decades of experience sourcing products and serving customers? Or the state of [fill in the blank]?

For the record, Menards is just the most recent example of a retailer that was accused of exploitive price gouging during the pandemic.

Retailers aren’t charities. They’re highly competitive businesses. And if the consumer can find a better price elsewhere, they can go elsewhere. That’s a bedrock principle of consumer-based capitalism.

Of course, there are times when companies are driven by greed and take advantage of scarcity, as well as times when collusion or monopolies threaten the smooth machinery of commerce.

There are even times when retailers can be misleading in their promotions. (See above.)

But rising prices on the shelf should be considered a natural and normal business response to rising costs upstream, whatever the cause. And in times of supply-chain stress, retailers too often deserve better treatment from regulators.

Adjusting prices in the face of supply and demand is the retailer’s job. Modest proposal: Let them do their job.

HBSDealer encourages your opinion.

Write to us at news@hbsdealer.com.

10 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

ADVERTISING SALES & BUSINESS ASSOCIATE PUBLISHER Amy Platter Grant (773) 294-8598 agrant@ensembleiq.com DESIGN/PRODUCTION/MARKETING ART DIRECTOR Catalina Carrasco cgonzalezcarrasco@ensembleiq.com PRODUCTION MANAGER Patricia Wisser pwisser@ensembleiq.com MARKETING MANAGER Kathryn Abrahamsen kabrahamsen@ensembleiq.com SUBSCRIPTION SERVICES LIST RENTAL mbriganti@anteriad.com SUBSCRIPTION QUESTIONS contact@HBSDealer.com

CORPORATE OFFICERS CHIEF EXECUTIVE OFFICER Jennifer Litterick CHIEF FINANCIAL OFFICER Jane Volland CHIEF OPERATING OFFICER Derek Estey CHIEF PEOPLE OFFICER Ann Jadown EDITORIAL ADVISORY BOARD

Levi Smith, CEO, Franklin Building Supply Neal DeLowery, Store Projects and Merchandise Manager, Aubuchon Co. Brad McDaniel, Owner, McDaniel’s Do it Center Joe Kallen, CEO, Busy Beaver Building Centers Tom Cost, Owner, Killingworth True Value David DeJoy, President and CEO, LBM Advantage

Permissions: No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or information storage and retrieval system, without permission in writing from the publisher.

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‘New’ NHS Reflects Changing Landscape

I

nformed by customer research and a sharp focus on today’s retail challenges, the National Hardware Show is undergoing its most significant transformation to date. In 2026, it will debut NHS Concept to Commerce—a reimagined event organized by RX, built to streamline every stage of the go-to market process.

The newly redesigned event will take place March 31–April 2, 2026, at the Las Vegas Convention Center West Hall, preceded by an International Exhibitor Summit on March 30.

Here’s what you need to know:

Q: What are the major shifts in the industry that led to the new focus of the show?

Retailers, wholesalers, and distributors are facing tighter margins, unpredictable costs, supply chain challenges, and higher expectations from both customers and internal stakeholders. At the same time, private brand expansion and global sourcing have become essential to growth, increasing pressure on teams to make the right decisions around design, materials, packaging, and manufacturing.

These shifts revealed a clear need for a more efficient way to discover new products and connect directly with capable suppliers. The new focus of NHS brings together innovation, sourcing, and manufacturing in one place, allowing businesses to evaluate partners more quickly, improve speed to market, and strengthen overall competitiveness.

Q: How did you come up with the Concept to Commerce theme?

The Concept to Commerce theme reflects how products are actually created and commercialized today. It came directly from conversations with retailers, wholesalers, and product teams who need greater visibility across the full product lifecycle, from initial idea and design through sourcing, manufacturing, and shelf execution.

That insight was reinforced through extensive qualitative interviews, industry surveys, and comparative visits to domestic and international sourcing events. Together, the research confi rmed that the event needed to support more than buying fi nished goods by helping businesses make better decisions earlier in the process, where they have the greatest opportunity to protect margin and build differentiated assortments.

12 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

The National Hardware Show unveils a new focus in 2026: “Concept to Commerce.”

Q: Who is your new target audience? Who should attend?

NHS Concept to Commerce is designed for decision-makers who influence what products get developed, sourced, and scaled. While buyers and merchants remain an integral piece of the audience, the show is increasingly built for cross-functional teams, including private brand leaders, product development, sourcing, and R&D professionals who are involved earlier in the product lifecycle.

For HBS Dealer readers, the show is especially relevant for organizations focused on private brand expansion, margin improvement, faster development timelines, and stronger supplier partnerships, whether sourcing domestically or internationally. NHS is a key event for aligning buying, development, and sourcing teams around shared goals, helping retailers improve speed to market and collaboration across the product lifecycle.

Q: What is the most exciting part of the new show format for you?

What’s most exciting is how NHS is intentionally structured around real business outcomes.

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NHS brings together innovation, sourcing, and manufacturing in one place.

Attendees can move easily between product discovery, sourcing conversations, and education within one cohesive experience. By bringing manufacturers and suppliers from around the world together in one place, the show allows you to explore global sourcing opportunities efficiently, without the time and expense of extensive international travel.

We are also rolling out a new recommendations program that provides curated matches based on attendees’ unique goals and business needs, helping them focus their time on the most relevant partners and opportunities.

Overall, the new NHS experience encourages deeper, more strategic conversations and allows professionals to leave with clear next steps they can put into action after the show.

Q: What will attendees gain from the NHS Expert Talks education program?

An ‘Expert Talks’ education program will address the real challenges facing today’s retail landscape.

This year’s event is slated for March 31-April 2 in Las Vegas.

moving a prototype to retail-ready, to strengthening private brands, licensing, and standing out in competitive categories. With sessions covering industry outlooks, buyer expectations, and leadership perspectives, the Expert Talks series gives attendees actionable ideas they can apply immediately, along with opportunities to connect and learn from peers throughout the program.

The NHS Expert Talks education program has Q: What can attendees expect during and after the been built to address the real challenges facshow? ing today’s retail landscape. Sessions focus on During the show, attendees will experience a curated mix of margin pressure, private brand acceleration, product discovery, global sourcing, education, and netprocurement strategy, pricing, forecasting, and working that supports collaboration across buying, sourcthe evolving expectations of both buyers and ing, and product teams. From international manufacturers, consumers. Attendees will hear from industry inventors and emerging brands to expert-led education leaders, retailers, founders, and academic experts sessions, the focus is on practical, real-world insights. who bring practical insight into how products After the show, attendees will move from development to comleave with stronger supplier relationmercialization more efficiently and Learn more ships, clearer sourcing strategies, profitably. and register at and ideas they can apply to improve The program also highnhs26.com/HBSDealer margins and build more competitive lights product development and assortments. brand-building strategies, from

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HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

13

News + Analysis

Early signals of housing stability

T

he fate of LBM and hardware companies are inextricably tied to the U.S. housing market. So let’s dial up trends and forecasts from two giant repositories of housing data: Zillow.com and Realtor.com.

Zillow predicts a slight uptick in home sales as pent-up demand meets improved affordability.

Among Zillow’s predictions:  Home values are projected to rise 1.2% in 2026, with the number of major markets seeing annual price declines expected to fall from 24 markets as of October to 12 next year.  Zillow projects 4.26 million existing home sales next year — a 4.3% increase over 2025 — as improving affordability brings more demand back to the market.

“The housing market is finally settling into a healthier state, with buyers and sellers starting to return,” said Mischa Fisher, chief economist at Zillow. “Buyers are benefiting from more inventory and improved affordability, while sellers are seeing price stability and more consistent demand. Each group should have a bit more breathing room in 2026.”

Zillow’s economists, however, say metros that remain affordable. These dymortgage rates are unlikely to fall below namics reflect how higher rates and years 6% in 2026. Though “gradual rate modof rapid price growth have rewritten the eration should help more buyers reenter rules of engagement for both buyers and the market, even if ultralow pandemic-era sellers. As we move into 2026, gradual rates remain far out of reach.” improvements in affordability and more Zillow’s new construction outlook is not consistent inventory will be key to unlockso rosy. Zillow says 2026 is shaping up ing a more balanced market.” to be the slowest year for single-family home construction starts since 2019, following a weak year in 2025.

Realtor.com’s report, meanwhile, says two “powerful forces” are shaping activity.

Ranked by expected combined sales and priceThe first is an increase in delgrowth rates, here are Realtor.com’s top 10 istings, as more homeowners markets for 2026: retreat from the market. The 1. Hartford-West Hartford-East Hartford, Conn. second is rise of “refuge mar2. Rochester, N.Y. kets,” where buyers are finding 3. Worcester, Mass.-Conn. the few remaining pockets of 4. Toledo, Ohio affordability.

5. Providence-Warwick, R.I.-Mass.

Danielle Hale, Chief 6. Richmond, Va. Economist at Realtor.com, 7. Grand Rapids-Wyoming, Mich. explains: 8. Milwaukee-Waukesha-West Allis, Wis. “A number of sellers are re9. New Haven-Milford, Conn., and treating after listing if the mar10. Pittsburgh. ket doesn’t meet their price (See full list at HBSDealer.com). expectations, while buyers are strategically redirecting to the

The top 10 markets on the move

The King has left the building Elvis Presley bought his first guitar at Tupelo Hardware on Main Street in Tupelo, Mississippi. (Actually, his mother bought it for him.) The 100-year-old store played up its nostalgic charm and musical history for decades, until it closed in December.

But a modern version of the retailer continues to play on at Tupelo Ace Hardware on nearby McCullough Boulevard.

The HBSDealer News Map continuously tracks the activity of hardware and building supply dealers nationwide. See the full map at HBSDealer.com/map.

Other recent notes on the News Map:  A triple play in Pennsylvania as Lezzer Lumber acquired three locations of H.P. Starr and Brookside Lumber;  The opening in Avon, Colorado, of Avon Home and Hardware, an Ace Hardware store;  Dakota County Lumber Company’s acquisition of Hamel Building Center in Plymouth, Minn.

14 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

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News + Analysis

Two companies swept into Chapter 11 Two companies in very different industries— building materials distribution and consumer robotics—recently turned to Chapter 11 bankruptcy protection as they work to stabilize operations and restructure their finances.

Citing financial troubles, North American Builders Supply, a building materials distributor based in Yorkville, Ill., filed for Chapter 11 protection in U.S. Bankruptcy Court for the Northern District of Illinois.

The filing signals an intent to reorganize rather than liquidate. The company supplies lumber, windows, The Roomba autonomous vacuum at work. millwork, decking, siding and related products. Court documents list estimated assets between $500,001 operating without disruption to its app functionality, customer and $1 million, with liabilities ranging from $1,000,001 to $10 programs, supply chain relationships or product support. CEO million. The number of creditors is listed as fewer than 50.

Gary Cohen called the filing “a pivotal milestone in securing Meanwhile, iRobot, the Bedford, Mass.-based maker of the iRobot’s long-term future.”

Roomba autonomous vacuum cleaner, also filed for Chapter As part of the process, iRobot entered into a restructuring 11 following an unsuccessful $1.4 billion acquisition attempt by support agreement with its secured lender and primary contract Amazon. iRobot reported a 23.4% decline in sales in 2024 commanufacturer, Shenzhen PICEA Robotics Co., Ltd., which is pared to the prior year. expected to acquire the company through a court-supervised During the restructuring process, iRobot said it will continue transaction.

At Lowe’s, a pet project

AI in the here and now The impact of AI is being felt throughout corporate America, on Wall Street and on laptops and smartphone screens across the globe.

Forecasts for the ultimate long-term impact of artificial intelligence on the human race run from the two extremes—from doom to paradise.

But what about the short-term here and now?

How is AI impacting your business today?

All Responses Actively using AI tools Exploring but not using yet

32% 17% 32%

No plans to use AI Testing or piloting AI

19%

Source: HBSDealer Poll Question

Three out of four Lowe’s customers own a pet.

More than 90 million pet-owning U.S. families are spending north of $150 billion each year on their pets.

Meanwhile, a recent Lowe’s PETio Survey with The Harris Poll found that 84% of pet owners have made indoor home design choices with their pets in mind.

With those figures scratching at the door, Lowe’s Global Merchandising Mooresville, North Carolina-based Lowe’s rolled out SVP Sarah Dodd.

Heart & Herd, the retailer’s newest private brand.

“Pets have always been an essential part of our customers’ lives, and Lowe’s has long offered pet products to meet their needs,” said Sarah Dodd, senior vice president of global merchandising for Lowe’s. “Our focus is on reaching pet parents by highlighting trusted, stylish and practical solutions that make life better for the whole family, pets included.”

The Heart & Herd Line currently offers toys, beds and sweaters and accessories (but not food) for dogs and cats. “We’ll continue growing the assortment with new designs and categories that make it easier for customers to find pet solutions that match their homes and their lifestyles,” Dodd said.

16 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

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Inside Independents

ABOUT ARNOLD LUMBER

‘Breaking Ground’ all over Rhode Island ARNOLD LUMBER BUILDS ON ITS INNOVATIVE CULTURE.

O

ne of the themes from the recent ProDealer Industry Summit dealt with the words “lumberyard” and “distributor” and how those terms fail to describe the activities of a modern prodealer.

A better concept: “Full-service construction support entity.”

At West Kingston, Rhode Island-based Arnold Lumber, that concept is flying high.

From the high-end design showrooms to its high-flying drone cameras that feed the company’s YouTube programming, Arnold Lumber is expanding what it means to serve its customer.

“We tend not to just look at what everyone else is doing,” said Thomas Cafaro, Arnold Lumber’s director of sales and marketing. “We definitely pride ourselves on being innovative and on asking, ‘What do our builders actually need?’”

Case in point: the company’s “Breaking Ground” video series, which just wrapped up its second season.

Not your typical dealer-generated YouTube content, the binge-worthy

A BEST WORKPLACE, TOO

W

hen recognized as a 2025 Best Places to Work for Women Award winner, Arnold Lumber owners Allison Arnold and Kate Arnold Carret issued the following statement: “The Arnold Family prioritizes investing in a strong, supportive company culture. Our commitment extends to every partner in our business, and the women on our team exemplify the strength of that culture. In an industry largely dominated by men, we are proud and honored to be recognized as one of the Best Places to Work for Women.”

“Breaking Ground” takes production values to another level. Hallmarks are professional editing, drone footage, and a format inspired by “This Old House.”

Cafaro serves as the on-camera host, interviewing builders and product experts and guiding viewers through active job sites and builder stories.

Episodes range from installing decks to leveraging technology, allowing local builders to showcase their expertise, as well as their personality. Episodes vary in length from 15 minutes to more than 30 minutes. The episodes build the brand for products and builders, while also building relationships among and between builders, homeowners and Arnold Lumber.

“It’s something that we’re really proud of,” Cafaro said. “No one else is doing it, yet, and that’s probably because it’s not easy.”

He added: “When you’re focused on being a great lumber dealer, you probably don’t think about high-end television production values. But there are a lot of cool things at a job site that make for compelling video.”

Another Arnold Lumber project that offers elite-level visuals is the prodealer’s Arnold Kitchen + Design arm, which is set to open a groundbreaking facility in Bristol, Rhode Island, in January. The new

18 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

F

ounded in 1911, Arnold Lumber operates four business segments across seven Rhode Island locations:  Arnold Lumber  Arnold’s Backyard  Arnold Lumber Multi-Family + Commercial  Arnold Kitchen + Design In addition to a new design center in Bristol, R.I., Arnold’s 2026 plans include a new 88,000 sq.ft. fully indoor location in Attleboro, Mass.

facility will expand beyond kitchen and bath, adding windows, doors and siding to create a whole-home approach to planning for customers and homeowners.

Also new for Arnold Lumber, the design center building will be separate from the adjacent yard. The site will be a self-contained design experience, he said. (“There will be no rumbling of forklifts,” he added.)

The company envisions the center to be a resource and service for the builder/ contractor. About 90 percent of Arnold’s business is from the pro customer, who probably doesn’t have time to sit with a homeowner to discuss the myriad of color options for cabinets or siding.

Cafaro shared the company’s full-service philosophy this way: “We’re saying, come to us for all your LBM products, but also come to us for assistance in marketing and allow us to promote your company and show potential clients out there what you’re all about.”

A scene from “Breaking Ground,” with Thomas Cafaro, right, your host.

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MEET THE NEXT GENERATION OF LEADERS

By HBSDealer Staff

T

hey’re everywhere.

It might not seem so in this decidedly senior-leaning industry. But it’s true.

They’re working the phones. They’re managing deliveries. They’re developing relationships with customers. And increasingly, they’re building bridges to innovation and technology.

Talented young professionals and future leaders are embedded throughout the industry. You just have to look for them.

HBSDealer did just that through a recent campaign to identify the next generation of leaders in the hardware and building supply industry. We uncovered the next wave of leadership. And on the following pages, they take the spotlight.

SAM ABLES

AARON DAVIS

Sales consultant Tri County Lumber

Outside sales Humphreys Building Supply

A top sales consultant at 21, Sam ranks third on the leaderboard and has already developed two clients into the company’s top 10.

MATTHEW HENSLEY Location manager Texas Building Supply & Millwork

SARAH DURKALSKI SPF department manager Carter Lumber

A softwood lumber expert with strong operational instincts, Sarah excels at making smart, strategic decisions in a fast-moving, margin-sensitive market.

Among his achievements: identifying bottlenecks and developing solutions to streamline processes and reduce errors.

A self-motivated achiever, Aaron is always learning about new products and always ready to initiate an idea for the good of the company.

CHRIS BAKER General manager Big C Lumber Co.

Chris leads with integrity, fosters a culture of teamwork, and holds high standards for ethical leadership.

TOM HOUSER General manager Cassity Jones Building Materials

JONI KONWINSKI Senior HR manager Mead Lumber

Joni played a major role in bolstering Mead’s benefit plan designs and benefit offering enhancements.

A U.S. Army veteran, Tom drives operational excellence through values-based leadership. Deeply committed to mentoring, he builds engaged teams and consistently delivers results.

20 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

EDMUND COTTLE III Secretary E.C. Cottle Inc.

On the small island of Martha’s Vineyard, Edmund is known for doing things the right way for both customers and employees.

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AMANDA GANGANNA RYAN CLIFFORD

RJ BROWN

Masonry division manager Arnold Lumber Company

General manager/VP McCray Lumber Company

Ryan’s collaborative leadership fosters belonging, significantly improving customer service and building strong, motivated teams in the Masonry department.

Joining McCray through an acquisition, RJ was soon recognized as a valuable asset. He effectively leads his location, and is a trusted voice on the McCray leadership team.

Account manager American Builders Supply

Amanda has a strong grasp of both the technical aspects of the building materials industry and the customer service side. And her passion for the business is contagious.

PAUL MARTIN Manager Liverpool Lumber Company

BEN EVANS Contractor sales Garris Evans Lumber Co.

From yard hand to store manager, Paul has a hard-working reputation for going the extra mile for customers.

BAILEY EVANS Purchasing Garris Evans Lumber Co.

Both men represent the fifth generation of Garris Evans Lumber. Both experienced the business as high school students and are continuing to broaden their knowledge on the job and through dealer roundtables.

KERRI MacALPINE Mac-Lad Corp Vice President

Living the slogan “Old school service with a modern touch,” Kerrie is a proven leader excelling in sales, payables, payroll, and receivables for the Connecticut-based dealer.

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CHAD BANKSTON Outside sales Bankston Lumber Co.

After success as a truss plant manager, Chad moved to a commission-based outside sales position, delivering more than $5 million in new business in his first year alone.

AUSTIN REICHERT General manager Architectural Carpentry Materials

Austin’s background includes operations and finance. And his leadership style promotes positive, accountable and caring culture.

NOAH BROWN Purchasing agent Allegheny Millwork & Lumber

Promoted from part-time to purchasing, Noah is an analytical leader driving process improvements and inspiring teammates.

JARED HUFFORD Director of member care Do it Best

A classic force multiplier—someone who brings together cross-functional teams to tackle complex challenges and deliver effective solutions.

HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

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BRENT PARRY Store manager Mead Lumber

DAVID ABLES Manager 3 Sons True Value Hardware

JESSICA JANCIK Creative manager True Value Company

Charged with bringing the True Value brand to life, Jessica inspires her colleagues with a solutionfocused creative mindset.

From a part-time helper in grade school, David is now the versatile, 24-year-old manager of the Big Lake, Minn. store.

KENNY CASSAVANT Driver/utility player Howe Lumber Co.

ALEX ROERS Account coordinator Dakota County Lumber Co.

CARLY SANTUCCI Process improvement American Builders Supply

Joined ABS in 2019 and has quickly established herself as an expert in both programming and process improvement, shaping the company’s continuous improvement culture to the tune of $10 million in savings and efficiency.

Chief operating officer Dealers Warehouse

Following in the footsteps of his grandfather and father, Jonathan leads by example to get the job done for customers and colleagues.

Kenny has earned a reputation for his non-stop energy and eager-tohelp attitude.

A steadying force for all of DCL’s sales-support team, Alex’s former background as a CDL driver bolsters his role as lead trainer.

KEITH GRITTERS Forest products manager LBM Advantage

RYAN COOLEY JONATHAN MIRTS

Rising from intern to manager, Brent leads with quiet confidence, building strong teams and navigating complex leadership transitions.

LBM strategic business development Do it Best

A consistent top volume trader, Keith orchestrated one of the largest block OSB buys in company history—800 trucks’ worth.

Joining in 2024, Ryan is already seen as a thoughtful leader who helped onboard True Value lumberyards to the Do it Best family.

JAMES MIELE LIAM HANRAHAN Installed sales Howe Lumber Co.

With roots in the local trade school carpentry division, Liam excels in the Howe Lumber Installed Sales department.

Director of purchasing Trade Supply Group

James has built a team that’s grown from 4 people to 15, and his role now spans nearly every department—purchasing, logistics, IT, finance, and sales.

24 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

JARED RESSEGUIE Marketing manager Kodiak Building Partners

A standout in video production, Jared is a collaborative future leader at Kodiak, sparking enthusiasm for innovation and high-quality work.

HBSDealer.com

MEET THE NEXT GENERATION OF LEADERS

EMILY GRIGAS

GERRY BEDNARCIK

Inside sales support Howe Lumber Co.

NICK BRANCH Operations supervisor Arnold Lumber Company

A Lean Six Sigma Yellow Belt, Nick leads initiatives that streamline yard workflows, reduce delivery times and improve inventory accuracy.

‘Organized’ and ‘helpful’ describe Emily’s impact on contractor customers and fellow employees.

ERIC PAGAN

Sales & marketing Apollo Supply

Among his achievements, Gerry spearheaded a transformational, three-phase modernization plan, including implementation of a stateof-the-art ERP system.

Specialties team lead LBM Advantage

ZACH LYMAN Manager Hudson Lumber Co.

Zach brings strong market awareness and industry knowledge to his role, while creating a positive work culture for his team.

Whether he’s explaining a new vendor program, offering solutions to supply chain challenges, or recommending top performing products, Eric demonstrates forward-thinking every day.

KEVIN KUNTSCHIK Operations manager Coastal Nail and Tool

With a background in the Marine Corps, Kevin has implemented successful growth and efficiency strategies across various departments.

CHRIS HAAS Manager Chelmsford Lumber Co.

A hands-on leader, Chris creates a culture of collaboration, learning and professional advancement.

KEVIN FOGLE

KATIE RUTLEDGE

Manager Bliffert Lumber

General manager-millwork American Builders Supply

A strong proponent of cross-industry collaboration, Kevin excels at leading his team to high achievement. His diverse skills include carpentry and customer service.

Since her promotion to GM at a high-volume Tampa facility, Katie consistently drives positive change, guiding customer service and operational excellence.

SCOTT NICHOLSON

JESSE CHILDERS

COO/GM Dakota County Lumber Co.

Yard foreman McCray Lumber Company

His certification from the Kellogg School of Management underscores his dedication to continuous learning and professional excellence.

A past President Award winner at McCray Lumber and a young manager who is dedicated to making sure customers are taken care of.

MELISSA DEFER

HBSDealer.com

Building Material Specialist Orgill Inc.

Showcasing versatile business skills, Melissa leads by mentoring staff and bridging communication between suppliers, customers, and internal teams.

HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

25

Golden Hammer Awards

Strike the Hammer THESE GOLDEN HAMMER HONOREES REPRESENT THE BEST OF THE BEST NE W PRODUCTS.

F

ourteen new products have been selected as Golden Hammer Award winners for 2025, spanning categories from entry systems and deck fasteners to house wrap and retaining wall solutions.

HBSDealer is proud to unveil the 2025 Golden Hammer honorees—this year’s top performers among new product introductions.

“We opened the nomination process early, and the response exceeded anything we’ve seen before,” said Ken Clark, editor-in-chief of Hardware & Building Supply Dealer. “At the same time, we narrowed the number of winners, which pushed our judges to make some tough calls and elevated the prestige of making this list. We’re excited to recognize these 14 outstanding products.”

Entries were evaluated based on the following criteria:  Innovation — features, technology, differentiation, and benefits  Value — relative price, consumer relevance, and practical functionality  Shelf appeal — clarity of message and overall desirability within the category.

 Oldcastle Belgard Diamond Pro Air block

 Caverna from Emser Tile

Belgard Diamond Pro Air is a high-performance retaining wall block that’s 30% lighter for easier handling, faster construction, and reduced shipping. Its easy-fill core and locator lug system allow near-vertical walls up to 12 feet. With three aesthetic options and 25% more blocks per truckload, it maximizes efficiency and design.

Emser Tile’s Caverna collection is engineered for virtually any space, indoors or out. With extremely low water absorption and breaking strength over 700 pounds per square foot, it performs from kitchens and laundry rooms to patios, pool decks, and driveways. Beyond its durability, Caverna delivers a stunning, all-purpose aesthetic.

26 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

HBSDealer.com

 Titebond UA 920 Sealant Titebond UA 920 Sealant is a high-performance urethane-acrylic formula that delivers flexible, crackproof seals with superior adhesion and UV resistance. Paintable in one hour and easy to clean, it handles high-movement joints like windows, doors, and trim. Combining urethane strength and acrylic toolability, UA 920 ensures durable, long-lasting seals.

 CAMO countersinking deck screws CAMO’s new Countersinking Deck Screw delivers clean finishes, tight holds, and long-lasting performance for exterior wood projects. Its nibbed head sits flush, while reverse upper threads lock boards from the top to prevent lift. A T-25 star drive, slashpoint tip, and Protech corrosion-resistant coating make it a durable, go-to fastener.

 GreenThumb Landscape & Mulch Bond  Kwikset Kwik Slide door handle entry system Caerus modernizes entry doors with Kwikset’s KwikSlide technology, replacing the thumbpiece with a sleek sliding handle for easy, handsfree operation. Featuring an oversized backplate, tapered grip, and SmartKey Security, it offers style and protection.

Available in Polished Chrome, Satin Nickel, and Matte Black, Caerus delivers designer looks with trusted Kwikset security.

GreenThumb Landscape & Mulch Bond secures mulch, gravel, sand, pine straw, and more—even in harsh weather. Its clear-drying, low-VOC formula provides up to two seasons of hold without altering color. Safe for kids and pets, it’s ideal for professionals and DIYers seeking durable, low-maintenance, yearround landscape results.

 Benjamin Obdyke VaporWise VaporWise is a vapor-variable interior membrane that adapts to seasonal conditions. During winter, it acts as a Class II vapor retarder, helping to prevent interior moisture from entering the wall cavity. In summer, the membrane’s permeability increases, allowing moisture to escape to keep the cavity dry.

Tri-laminate construction adds durability.

 Maximo SableWood Maximo SableWood is a pre-finished tropical hardwood offering the beauty, durability, and strength of Ipe (for instance) without installation challenges. Designed for architects and builders, it’s ready-to-install, stable, and time-saving, combining real hardwood elegance with convenience. Maximo SableWood delivers seamless installations and exceptional results, representing a smart, next-generation wood solution.

HBSDealer.com

HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

27

Golden Hammer Awards  LP BurnGuard The newest addition to LP’s fire solution portfolio, LP BurnGuard FRT OSB is a fire-rated OSB panel with integrated treatment. It competes with fire-treated plywood and works with LP FlameBlock and LP WeatherLogic/ SmartSide systems. Available in a variety of dimensions, the product is built for performance and ease of use.

 Royal Reversible Beadboard/V-Groove Planking in Haint Blue From Westlake Royal Building Products, this exterior innovation captures the classic Southern porch-ceiling tradition. Its soft, coastal hue adds charm while the reversible design allows beadboard or V-groove installation. Made from low-maintenance cellular PVC, the planks resist water, eliminate painting, and provide durable, versatile trim for any architectural style.

 Blu: Construction AI powered by Buildxact Buildxact’s AI-powered takeoffs, estimating templates, and real supplier pricing deliver 97% accurate estimates in under 90 seconds— seven times faster than manual methods. Builders report higher win rates, rapid ROI, and strong project control. Since launch, Blu AI has completed over 20,600 takeoffs and more than 1,200 estimates, demonstrating its efficiency and accuracy.

 TimberTech Harvest+ decking The Harvest+ Collection offers hardwood-look PVC decking at an attainable price. Made with up to 60% recycled materials, it requires no sanding, staining, or sealing. Cool Touch Technology keeps surfaces cooler, while enhanced traction improves slip resistance. Fire-rated and WUI-compliant, Harvest+ resists moisture, mold, and fading, delivering durable, sustainable outdoor beauty.

 ProWood TrueFrame Joist TrueFrame Joist is an all-wood, pressure-treated deck framing solution made from #1 Grade Southern Yellow Pine. KDAT and factory-planed for consistent sizing, it reduces movement and simplifies installation. Treated to ground contact standards with enhanced stability, TrueFrame Joist offers contractors a durable, affordable, and dependable substructure for professional-quality decks.

 Simpson Strong-Tie Outdoor Accents Sage System Sage System pergola connectors let DIYers build outdoor shade structures in a single afternoon. Open-top connectors fit 4x4 or 6x6 lumber and adapt to minor variances. Includes corner and middle-T connectors, post bases with rot-preventing standoffs, and ZMAX galvanized steel construction. Sage System sunshades finish the look in 8’x 8’ and 10’ x 10’ sizes.

28 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

HBSDealer.com

Manufacturers & Services Directory NBMDA's Manufacturers and Services Council (MSC) was created exclusively for companies that provide products and services to the building material industry.

www.bluelinxco.com

www.bc.com/ewp

www.calusamarketing.com

www.culpeperwood.com

www.dealerschoicedistribution.com

www.dupont.com

www.ecisolutions.com

www.epicor.com

www.federatedinsurance.com

www.fctg.com

www.intactsoftware.com/en-us

www.hbsdealer.com

www.kerridgecs.com/en-us

www.laymansguide.com

www.lbmadvantage.com

www.lmc.net

www.misuragroup.com

www.netnow.io

www.orgill.com

www.palfinger.com

www.patwin.com

www.plmins.com

www.runpayments.io

www.7dwholesale.com

www.salesjack.com

www.strongtie.com

www.stratusbusinessadvisors.com

www.upg.org

www.weyerhaeuser.com

For information on becoming a member, please contact membersupport@dealer.org

QXO Report

QXO’s march to $50 billion FOUNDER BR AD JACOBS DESCRIBES THE PATH, AND MORE

By Ken Clark

T

he founder of QXO made headlines earlier this year through the blockbuster $11 billion acquisition of Beacon Roofing Supply. More recently, Brad Jacobs made observations on business, investing, management and technology during a “fireside chat” for the Economic Club of New York.

Jacobs also described the road map for growth over the next decade.

“The goal is to get to $50 billion in revenue,” he said to a packed room of several hundred here at the Plaza Hotel in Manhattan. “That’s the next mountain top we’re gonna climb.”

To get there, Jacobs says he needs to complete acquisitions that bring in $30 billion to $40 billion in annual revenue, and grow revenue to $50 billion through organic improvements to price, volume and market share.

“So with the $9 or $10 billion we already bought [Beacon’s 2024 annual sales were $9.8 billion], we’re a quarter to a third of the way there already.”

Jacobs, who was speaking as part of the Economic Club’s author series program, is often described as a serial entrepreneur. He founded and led eight companies. His book “How to Make a Few More Billion Dollars” is a sequel to “How to Make a Few Billion Dollars.”

The author of those lofty titles revealed a down-to-earth side to his personality and business philosophy.

Regarding the 500 M&A deals he’s completed, he said. “I get credit for this stuff. It’s really the team and my teams.”

He added: “We all make mistakes,” he said. “I don’t expect perfection in my team. I don’t expect perfection in myself. I don’t expect perfection in the world. In fact, I expect imperfection every day. I expect all of us to mess up, including myself. So, forgive that and move on. And give yourself permission to be human.”

QXO, which is trading on the New York Stock Exchange, intends to bring technology to bear on building products distribution in a way that will transform the industry.

When his interviewer described building products distribution as a low-excitement field, Jacobs pushed back.

“The goal is to get to $50 billion in revenue... That’s the next mountain top we’re gonna climb.”

Brad Jacobs, QXO Founder and CEO

30 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

“I find it very sexy,” the QXO founder said. “I looked at about 600 companies over about 55 different industries, and this is the first one that literally checked every box. This was the girl I wanted to marry.”

What does he like about it? “I think it’s a safe bet that building products are not going into the metaverse. I think that 5 years or 10 years from now, you’re still gonna go home to a real physical house with a roof and windows and doors and bathtub.”

“And I think over time, because of the shortage of housing and the age of all the commercial and residential houses and buildings, I think there’s gonna be a lot of repair and remodeling.”

There are other deals in the pipeline. At any given point in time, he said, there are about 50 potential acquisitions in some stage of consideration or discussion. Currently, there are seven, he said, that have risen to a more serious level.

“Our strategy is not to just look at one deal and fall in love with it and overpay for it,” he said. “That doesn’t work in terms of what we’re trying to do.

We’re trying to create dramatic shareholder value.”

One does that by buying companies at a reasonable price, he said, and significantly improving the business after one buys it.

HBSDealer.com

HD AND LOW IN THE MIX

A

sked about the acquisitive behavior of Home Depot and Lowe’s in recent months, Jacobs said he interprets recent Lowe’s comments as an indicator that Lowe’s intends to pause its acquisition streak — maybe for a couple years as it integrates its acquisition of Foundation Building Materials.

As for Lowe’s rival Home Depot, which acquired SRS Distribution and GMS in back-toback blockbusters, Jacobs said: “Home Depot has to figure out if this is the right strategy.”

Jacobs delivered his remarks to a crowded room at the Plaza Hotel in New York City.

“I don’t expect perfection in my team.

I don’t expect perfection in myself. I don’t expect perfection in the world. In fact, I expect imperfection every day. I expect all of us to mess up, including myself.

So, forgive that and move on. And give yourself permission to be human.”

Brad Jacobs, QXO Founder and CEO

Regardless of the industry, technology is playing a large and increasing role.

“Tech underlies the whole playbook,” he said.

“Everything we do to improve a company is related to tech: pricing, procurement, logistics. Everything is tech enabled.”

Not every improvement has a foundation in technology. For instance, organizational charts are often wildly inefficient. (One hundred times out of 100, they will be “messed up,” he said, perhaps exaggerating.)

“We typically find there’s too many layers,” said Jacobs, referring to organizational charts and the layers between the CEO and the customer.

Beacon, for example, had nine layers of management, which Jacobs found unworkable. “I wouldn’t know how to get anything done.”

He described his view on organizational charts this way: They have six or so people running the divisions.

And then you have, depending on how big it is, 100 to 200 regional VPs or some similar title. And then you have hundreds or a couple thousand branches or service centers, units stores or locations, and that’s all you need.

“You don’t need more than that. You don’t want more than that. If you want more than that, it’s hard to execute. It’s hard just to get stuff done.”

Another issue he found with Beacon is that the roofing supply giant had 1,600 people who had authority to procure, said Jacobs. The QXO founder prefers to be able to count on no more than two hands the number of a company’s centralized procurement officials.

The wide-ranging discussion included big ideas (the future of society under the influence of artificial intelligence) and small details (a daily email called QXO am shared by the leadership team each morning).

Jacobs also described the importance of a work force that’s incentivized to perform.

“We don’t pay more on the base salary, typically,” Jacobs said. “We love uncapped incentive compensation. When somebody knocks the leather off the ball, then we pay them. We let them make a lot of money. That’s a good thing.”

Newscaster Sara Eisen chatted with Brad Jacobs at the Economic Club of New York.

HBSDealer.com

HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

31

Sisters in action ELLEN AND SERENA HARMON ARE BUILDING SOME THING BIG IN SOUTH DAKOTA.

By Robby Brumberg

B

y most measures, Mission, South Dakota, is a small place. Population: 1,156 at the last Census count, and just under 400 households. But business is growing at Rosebud Building Products (RBP), thanks to the vision and leadership of a dynamic duo, co-owners Ellen and Serena Harmon. Below, the sisters share more about the journey that’s led them to helm a thriving company on the Rosebud Reservation in the heartland of the Rosebud Sioux Tribe.

BUILDING TOWARD SUCCESS “I handle the paperwork side of things for the business,” says Ellen Harmon, which is a modest way of saying she covers HR, financials, strategic planning, development, marketing and more.

Serena, who serves as co-owner of RBP, says she covers the “operations.” side. That also-modest description encompasses handling customer and supplier relationships, the merchandising of the store, and “supporting staff as we continue to grow,” she says.

“I definitely didn’t grow up dreaming of working in this industry,” Ellen says. But building has always been in the Harmons’ blood. The sisters started in construction with their four older brothers, with whom they founded a custom log home building company.

Ellen says one of their first major projects was building the tribe’s homeless shelter. “As we bought bunks of lumber and sheetrock for our own builds, people in the community would stop by and ask if they could buy some from us too. That was our lightbulb moment, realizing there was a real need for access to building materials here.”

Serena adds that the sisters came from “pretty humble beginnings.”

“We actually started selling building materials out of a trailer house and a hodgepodge quonset hut, and we pooled funds from our mom’s life insurance to seed the inventory for our first store. We like to say she was our true ‘Angel Investor.’”

As business picked up, the family’s reputation for working with integrity and quality grew. And the sisters “consistently reinvested earnings back into the company so we could expand our offerings.”

2020 marked a turning point for the Harmons.

“When the pandemic hit, our community needed us more than ever, and that period really solidified our direction and growth.

That’s when we realized: this is truly our purpose,” Serena says.

32 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

Serena (L) and Ellen Harmon.

“I think I can speak for both of us when I say, giving back to the community is at the center of everything we do.”

—Ellen Harmon GIVING BACK As enrolled members of the Rosebud Sioux Tribe, the Harmons clearly take their role as community-minded advocates seriously. “I think I can speak for both of us when I say, giving back to the community is at the center of everything we do,” Ellen says. The sisters sponsor youth and elder events and have been known to step in to help make sure young people get to a powwow event.

“There are so many moments like that where a small amount of support can make a huge difference. Our goal is to donate 10 percent of our net profit each year, because generosity is both a core value of our business and a core part of our culture,” Ellen says.

GOOD GUIDANCE FOR THE INDUSTRY When it comes to recruiting, Ellen advises LBM companies to be more open regarding candidates’ backgrounds. “Someone’s education or experience might not match a job description perfectly, but that doesn’t mean they won’t absolutely excel in the role. Senior leaders should widen the lens a bit and look for potential, adaptability and lived experience, not just resume checkboxes.”

On that note, Serena adds: “I think a lot of people still imagine Native culture as something historical or frozen in time, but we’re very much a living, evolving community. Supporting Native-owned businesses, just like supporting any minority-, women-, or locally-owned business, creates real impact. Even small decisions about where you shop or who you hire can make a meaningful difference.”

HBSDealer.com

Market Insights

Offsite construction looks ahead

CertainTeed’s Managing Director for Offsite Solutions and Residential Resiliency Dennis Michaud.

CERTAINTEED’S DENNIS MICHAUD TALKS ABOUT NE X T STEPS

O

n paper, the notion of modular, offsite construction makes a lot of sense—streamlining the building process while minimizing labor costs.

In practice, however, prefab, pre-cut and panelized components remain something of an outlier, as the homebuilding industry still overwhelmingly favors on-site stick construction. In fact, offsite construction featured in just 3 percent of single-family builds in 2024, down from 7 percent in 2023, according to the latest stats from the National Association of Home Builders.

Why? Factors like zoning laws, uncertain demand, perceptions regarding quality and startup costs required to shift production methods have been named as deterrents.

CertainTeed’s Managing Director for Offsite Solutions and Residential Resiliency Dennis Michaud spoke with HBSDeaeler about challenges and opportunities.

HBSDealer: What trends are you seeing in modular building in particular?

Michaud: Growth in modular and panelized building is strongest in regions facing acute housing shortages and high labor costs, where speed and efficiency are critical.

Builders are increasingly prioritizing high-performance materials that deliver durability and energy efficiency, along with assemblies that provide superior thermal performance—often in the range of R-20 to R-60.

Technologies such as precision manufacturing and moisture-managed assemblies are emerging as key differentiators, helping ensure consistency, quality and long-term resilience.

HBSDealer: In your view, what are some of the biggest obstacles to offsite building in the U.S.?

Michaud: Some of the biggest obstacles include perception and education, as many builders still view offsite construction as niche or costly despite its proven efficiencies.

Also, regulatory complexity, with varying local codes slowing adoption.

The skilled labor gap is an issue as well, because even with offsite solutions, experienced crews are still needed for assembly and finishing.

HBSDealer: Moving forward, what’s next for the company in terms of offsite offerings?

Michaud: CertainTeed sees offsite construction—including modular, panelized and manufactured housing—as a powerful tool for improving productivity, affordability and resilience in the construction industry.

We will continue to enhance modular-friendly solutions that accelerate roofing, insulation and drywall installation, along with introducing new siding materials designed to increase durability during transportation of modular and panelized units.

On the One Precision Assemblies side [CertainTeed’s panelized solution], our focus is on expanding geographic reach with regional scaling to meet demand in high-growth housing markets. This expansion will allow us to serve more builders and developers with a system that delivers speed, quality and flexibility for diverse housing types.

HBSDealer.com

Lift, Load and deLiver with SeLLick!

Whether you need to deliver a skid of blocks to a jobsite or move a 16,000 lb. load of steel, Sellick has the forklift that is right for you. We have been engineering and manufacturing rough terrain forklifts for over 50 years and our nationwide dealer network offers superior support for all your parts and service requirements. Call toll-free or e-mail us today for all your material handling needs.

1-877-SELLICK (735-5425) sales@sellickequipment.com

HARDWARE + BUILDING SUPPLY DEALER Januar y 2026

33

Residential Construction/Sales

Monthly Retail Sales, not adjusted

13 months of housing starts and existing-home sales

home centers and pro dealers (NAICS 444) and hardware stores (NAICS 44413)

Total starts

NAICS 444 (sales in $ billions)

(in thousands, SAAR) August: 1,307,000

NAICS 44413 (sales in $ billions)

50

1600

5

40

1500

44.7

42.6

40.3

4

42.4

40.2

40.0

3.63

SUSPENDED

1400

1300

30

3

20

2

10

1

0

1200

A

S

O

N

D

J

F

M

A

M

J

J

AUGUST

A

SOURCE: COMMERCE DEPARTMENT

2024

Single-family starts

SEPTEMBER

2025

3.77 3.31

0

OCTOBER

3.79

3.73

JULY 2024

AUGUST

3.56

SEPTEMBER

2025

SOURCE: MONTHLY RETAIL TRADE REPORT FROM THE U.S. CENSUS BUREAU

(in thousands, SAAR) August: 890,000 1200

HBSDealer Stock Roundup the percent-change performance of stocks based on Jan. 2 prices

1100

SUSPENDED

1000

20 DJI

900

A

S

O

N

D

J

F

M

A

M

J

J

ANNUAL CHANGE

800

10 A

SOURCE: COMMERCE DEPARTMENT

Existing-home sales (in millions, SAAR) November: 4,130,000 4.5

LOW

0

SHW

SWK

TSCO

HD

-10

WY

-20

4.25

4

BLDR

-30 -10

-5

3.75

3.5

PPG

MAS

0

5

10

MONTHLY CHANGE BLDR (BUILDERS FIRSTSOURCE); MAS (MASCO CORP.); HD (HOME DEPOT); LOW (LOWE’S);

N

D

J

F

M

A

J

M

J

A

S

O

N

PPG (PPG INDUSTRIES); SHW (SHERWIN-WILLIAMS); SWK (STANLEY); TSCO (TRACTOR SUPPLY);

SOURCE: NATIONAL ASSOCIATION OF REALTORS

WY (WEYERHAEUSER); DJIA (DOW JONES INDUSTRIAL AVERAGE)

Consumer Watch Unemployment rate

Consumer confidence

Gas prices

for the entire United States

indexed to a value of 100 in 1985

average price per gallon (regular)

8.0

10.0

0.0

90

14.0

4.0 2.0

100

12.0

6.0

4.6%

Current

$3.00

Prior month 16.0

November

$4.00

110

80

89.1

18.0

70 20.0

Prior year

120

December

34 Januar y 2026 HARDWARE + BUILDING SUPPLY DEALER

$2.83 130

$2.00

Jan. 2

$5.00

SOURCES: LABOR DEPARTMENT, THE CONFERENCE BOARD, AAA

HBSDealer.com

SAVE THE DATE!

October 5-7th The Westin Michigan Avenue Chicago

ProDealer Industry Summit is an exclusive, live educational forum designed to promote the growth of lumber & building product dealers, distributors, wholesalers, and the manufacturers who supply them. LBM dealers will benefit from sharing insights and best practices from industry leaders.

THANK YOU TO ALL OF THE 2025 SPONSORS

For more information contact: Amy Grant, Associate Publisher agrant@ensembleiq.com | 773-294-8598

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