Home Improvement Retail

Home Product Center Public Company Limited, or HMPRO, has invested over 310 million baht in a major renovation of its MegaHome construction materials and trades center at the Min Buri branch, adding a HomePro at the same location to create a hybrid store. Managing Director Weeraphan Angsumalee said the upgrade covers products ranging from decorative items to structural work, systems work, and tools, in order to meet rising demand from the trades and contractor market driven by new construction, extensions, and renovations in eastern Bangkok, especially the Khlong Sam Wa, Min Buri, and Nong Chok zones along Hathai Rat and Nimit Mai roads. Currently, within a 10-kilometer radius of the branch, there are nearly 130,000 households, and the area is growing at a rate of 2.99% per year. The branch will officially open on 18 September 2026, targeting revenue of over 80 million baht per month, with an opening celebration campaign running from 18 to 27 September 2026.

Home Products Center, or HMPRO, is investing more than 310 million baht to renovate its MegaHome Min Buri branch into a comprehensive hub for construction materials and contractor services. The project was disclosed by Weeraphan Angsumalee, Managing Director, and the branch will open for service on 18 September 2026, targeting revenue of more than 80 million baht per month. The company has added the HomePro business into the same location to expand its customer base to homeowners looking to renovate and decorate their residences, covering electrical appliances, sanitary ware, furniture, home decorations, as well as installation and after-sales services. The investment reflects the potential of eastern Bangkok, especially the Khlong Sam Wa, Min Buri and Nong Chok areas along Hathai Rat Road and Nimit Mai Road. Currently, within a 10-kilometre radius of the branch there are nearly 130,000 households, with a growth rate of about 2.99% per year. Weeraphan said the Hybrid Store model will help connect customer needs ranging from construction, structural work, contracting, extensions and renovations through MegaHome, while HomePro will fill in products and services for home decoration and improvement. The company aims to make MegaHome Min Buri the centre for home and contractor needs in eastern Bangkok over the long term.

Krungsri Securities said that Dohome Public Company Limited, or DOHOME, still saw same-store sales, or SSS, grow 4-6% year on year in the third quarter. In the first 10 days of September, even without the boost from a low steel sales base as in July and August, SSS still grew at a mid-level pace on strong orders from the contractor group, especially ongoing project work for government agencies. As a result, SSS for the Back Office group grew 6-9%, while in-store sales rose 1-3%. For the remainder of the quarter, it expects accelerated budget disbursement late in the year to support SSS in the third quarter of 2026, still growing 4-6% year on year, compared with 1.8% growth in the second quarter of 2026. On gross profit margin, or GPM, it is expected to return to 17-18%, close to the third quarter of 2025 but down from 19.8% in the second quarter of 2026, after the boost from low-cost inventory and the timing of rising steel selling prices faded. Steel GPM fell to 7-9% from 12-14% in the second quarter of 2026 and is slightly below the normal level of 10-12%, but the House Brand proportion rose to 18-19% from 17-18% in the third quarter of 2025, helping offset weaker steel margins. The company still has no plans to open additional large-format branches in the second half of 2026, from 27 branches at present, and is instead focusing on expanding Dohome ToGo, which are small-format branches and account for only 2-3% of revenue, from 29 branches at the end of the second quarter of 2026, an increase of 6 branches from the first half, with a target of expanding to 50 branches by 2027. Krungsri also maintained its net profit forecast for 2026 at 831 million baht, up 38% year on year, and expects normal profit in the third quarter of 2026 at 130-140 million baht, up 32% year on year. It maintained its Buy recommendation with a 2027 target price of 4.40 baht, seeing DOHOME entering a clearer recovery cycle after SSS returned to positive territory and the Private brand proportion increased, while the one-year forward PER is near the lower end of its historical trading range, making the risk-reward still attractive.

Home Depot executives said the retailer's second-quarter performance exceeded its original forecast, supported by broad-based strength in core home-improvement categories, delivery investments and continued gains with professional customers despite pressure on consumer sentiment. Executive vice president and chief financial officer Richard McPhail and executive vice president of merchandising Billy Bastek discussed demand trends, pricing, professional-customer initiatives, artificial-intelligence investments and capital allocation during a fireside chat. Bastek said 13 of the company's 16 merchandising categories posted positive comparable sales in the second quarter, with strength extending across core categories including plumbing, electrical, hardware and tools rather than being concentrated in seasonal products. Home Depot has posted eight consecutive quarters of positive comparable sales with professional customers, and McPhail outlined a strategy to expand share of the estimated $700 billion professional market within a $1.2 trillion total addressable market, with the company expecting $400 million in cross-selling during 2026, primarily through joint sales efforts targeting home builders and large remodelers. On delivery, Bastek said 65% of parcel shipments arrive the same or next day and 55% of big-and-bulky products arrive within two days, while McPhail said Home Depot has committed to several billion dollars of productivity improvements in its expense base over the next few years and expects to return to a debt-to-EBITDA ratio of approximately 2 times by the middle of fiscal 2027, resuming share repurchases by the end of the second quarter of 2027.

Lowe's Companies expects the second half of the year to resemble the first half, as elevated interest rates and economic uncertainty keep homeowners cautious about big-ticket spending, Chairman, President and Chief Executive Officer Marvin Ellison said at the Goldman Sachs Global Consumer and Retail Conference. Ellison said the company does not expect a material change in the housing backdrop for the rest of the year, but believes it can grow and gain market share regardless of macroeconomic conditions, pointing to five consecutive quarters of positive comparable sales growth and digital sales growth exceeding 15% in each of the past two quarters. More than 60% of Lowe's sales come from do-it-yourself customers, and while its core homeowner customer has an average household income above $100,000 and roughly $400,000 in equity, those consumers are favoring smaller, more deliberate projects such as countertops or cabinets over full kitchen or bathroom renovations. Lowe's estimates the home-improvement market at roughly $1 trillion, with Lowe's and its largest competitor together accounting for about $250 billion of that total, leaving smaller regional players as another opportunity for share gains. The company's acquisitions of ADG and FBM have expanded it into construction-related markets, and about 55% of FBM revenue comes from commercial construction, including data centers, sports venues, hotels and university projects. Looking ahead, Lowe's plans to prioritize debt reduction toward a 2.75-times leverage ratio, which it expects to reach around the midpoint of next year, while continuing dividend payments and potentially revisiting share repurchases after hitting that target.

Home Depot is expanding its Food Operations program, bringing local and regional food vendors and food trucks to its stores nationwide. The initiative offers breakfast, lunch, and dinner outside Home Depot locations, a strategy the company says is designed to provide convenient food options while strengthening connections between its stores and their local communities. Vice President of Merch Services Richard Goodrich said the mission is to provide local food options that enhance the shopping experience. Unlike Costco's standardized food court with a national menu, Home Depot is bringing local food trucks and vendors to individual stores. The timing follows Home Depot's reported $47.9 billion in second-quarter fiscal 2026 sales, up 5.7% from a year earlier, with comparable sales up 1.7% and U.S. comparable sales up 1.3%, though executives noted larger discretionary projects remain under pressure amid historically low housing turnover and higher mortgage rates. The company received $730 million in tariff refunds during the quarter, with $685 million reducing the cost of goods sold, but said those benefits would be offset by incremental cost pressures during the year.

Walmart and Home Depot are both receiving significant tariff refunds but are handling them differently, as reported by CNBC. Walmart CFO John David Rainey said the company is eligible for roughly $2.9 billion in refunds, with just under $100 million still outstanding, and that the boost contributed to a 1.6% increase in Walmart U.S. gross profit. Rainey said Walmart plans to use the funds to lower prices for consumers, with the impact expected in the current fiscal third quarter. Home Depot received $730 million in tariff refunds during its fiscal second quarter, using about $685 million to reduce cost of goods sold, which lifted gross margin by 0.3 percentage points; CFO Richard McPhail called that "the vast majority" of what the company expected. In contrast, Lowe's CEO Marvin Ellison said the company will not use its refund to cut prices, instead aiming to "deliver strong profitability for our shareholders."

Mr. D.I.Y. Holding (Thailand) Public Company Limited, or MRDIYT, targets opening 210 new stores in 2026, with 60% of the goal already achieved in the first half of the year. As of the end of Q2, the company had a total of 1,248 stores covering all 77 provinces nationwide. Mr. Anupap Khongmalai, Executive Vice President of Marketing, stated that the company focuses on offering value-for-money and easily accessible products under the "Always Low Prices" concept to cater to cost-conscious consumers, with approximately 16,000 product items across 6 main categories. In Q2 2026, the gross profit margin stood at 52.0%, up 0.6% from the same period last year, with 34.9 million transactions, an increase of 18.8%. The company has a capital expenditure budget of approximately 4 billion baht for 2026 to expand stores and develop the automated distribution center project.

Mr. Witoon Suriyawanakul, Chief Executive Officer of Siam Global House Public Company Limited (GLOBAL), revealed at the Thailand Transition event that the company has adopted AI and Cloud technology to revolutionize operations across its 100 branches. The company began implementing its Cloud system at the start of the year, enabling employees to work from anywhere, and has introduced AI into its HR systems, such as facial recognition for attendance and automated job interviews, to make work easier for staff. Amid intense competition and shrinking purchasing power, the company is prioritizing positive cash flow management and continues its plan to expand by 6-8 branches per year, particularly in the lower southern region, which currently covers Songkhla, Pattani, Satun, Phatthalung, and Narathiwat, with plans to expand into Yala province next year, despite challenges from unrest along the border.

Lowe's Companies has declared a quarterly dividend of $1.25 per share, unchanged from the previous quarter. The dividend is payable on November 4 to shareholders of record as of October 21, with the ex-dividend date also set for October 21. Based on the current share price, the forward yield is approximately 2.4%.

Lowe's Companies, Inc. has declared a quarterly cash dividend of $1.25 per share, payable on November 4, 2026, to shareholders of record as of October 21, 2026. The home improvement retailer, which reported fiscal 2025 sales of more than $86 billion, operates over 1,750 stores and employs approximately 300,000 associates. The company is a dividend aristocrat and a core S&P 500 stock.

The Home Depot reported fiscal second-quarter net sales up 5.7% to $47.86 billion, its best comparable sales growth since 2022, while confirming CEO Ted Decker is on temporary medical leave. Adjusted profit of $4.92 a share beat the $4.73 analysts expected, and comparable sales rose 1.7%, beating the 0.9% guess. The company received $730 million in tariff refunds, used mostly to lower cost of goods sold, and expanded its Express Delivery service nationwide. It kept its full-year sales growth forecast of 2.5% to 4.5% despite the leadership gap. CFO Richard McPhail noted that the mix of factors unlocking bigger renovation projects hasn't yet materialized, and home turnover remains at a multi-year low, so the sales gain relies on smaller projects. Decker's leave adds uncertainty at the $337 billion company with 470,000 workers and over 2,300 stores, as his duties are split between two leaders.

The Home Depot has expanded its AI-powered shopping assistant, Magic Apron, to all 2,000-plus U.S. stores, adding localized store knowledge to help customers find products, get project guidance, and ask questions in multiple languages. The assistant, which already handles millions of questions per month, is accessible through the Home Depot mobile app's Store Mode or by scanning QR codes on in-store signage. Customers can text, use voice-to-text, upload images, and receive answers tailored to their chosen store, including aisle and bay locations and real-time product availability. The rollout builds on the Store Mode feature launched in 2022 and complements the expertise of store associates, according to Jordan Broggi, EVP of Interconnected Retail. The Home Depot operates 2,364 retail stores and over 1,340 SRS locations across the U.S., Canada, and Mexico, employing over 470,000 associates.

Lowe's reported second-quarter sales of $26 billion, up 8.3% year over year, with comparable sales increasing 0.2%, and adjusted diluted earnings per share of $4.40, which exceeded expectations even excluding a $0.11 benefit from IEEPA tariff refunds. The company recognized $96 million in pre-tax non-GAAP charges from acquisition-related intangible asset amortization in the quarter. Despite heightened competitive pressures from competitors using tariff refunds to lower prices, Lowe's saw strong performance in Pro, Online, and Home Services, with online sales growing 15.7%. The company updated its full-year 2026 outlook to approximately $92 billion in sales, roughly flat comparable sales, adjusted operating margin of about 11.6%, and adjusted diluted EPS of approximately $12.25, reflecting continued soft DIY demand and pressure in residential construction. Lowe's also generated $3.1 billion in free cash flow and paid $673 million in dividends during the quarter.

At least eight Thai listed companies announced interim dividend payments following board meetings on August 25, 2026, with most setting the XD date between September 7-9. Leading the way, BCP pays 3.00 baht per share, followed by TISCO at 2.00 baht, RATCH at 0.70 baht, TIPH at 0.50 baht, OR at 0.30 baht, HMPRO at 0.16 baht, TTB at 0.081 baht (up 23% from last year), and CIMBT at 0.0385 baht. RATCH's total payout is approximately 1,522.50 million baht, while OR's total is 3,600 million baht.

Seven major listed companies have announced interim dividend payments following the end of the second quarter of 2026. PTT Oil and Retail Business (OR) will pay 0.30 baht per share, with the ex-dividend date on September 7, 2026, and payment on September 24, 2026. Bangchak Corporation (BCP) will pay 3 baht per share, with the ex-dividend date on September 7, 2026, and payment on September 17, 2026. Home Product Center (HMPRO) will pay 0.16 baht per share, with the ex-dividend date on September 8, 2026, and payment on September 22, 2026. Tip Group Holdings (TIPH) will pay 0.50 baht per share, with the ex-dividend date on September 9, 2026, and payment on September 23, 2026. TISCO Financial Group (TISCO) will pay 2 baht per share, with the ex-dividend date on September 7, 2026, and payment on September 21, 2026. Ratch Group (RATCH) will pay 0.70 baht per share, with the ex-dividend date on September 8, 2026, and payment on September 24, 2026. And TMBThanachart Bank (TTB) will pay 0.081 baht per share, with the ex-dividend date on September 7, 2026, and payment on September 25, 2026.

Home Depot reported stronger-than-expected fiscal second-quarter results, with sales rising 5.7% to $47.86 billion and adjusted diluted EPS climbing to $4.92 from $4.68, above the $4.73 consensus. Comparable sales increased 1.7%, while U.S. comparable sales rose 1.3%, though comparable transactions declined 1% and comparable average ticket increased 2.8%. The company received $730 million of IEEPA tariff refunds, of which $685 million reduced second-quarter cost of goods sold, adding approximately 145 basis points to gross margin before unplanned costs and acquisition mix reduced the net benefit to about 25 basis points, bringing gross margin to 33.7%. Management reaffirmed fiscal 2026 guidance for total sales growth of 2.5% to 4.5% and comparable-sales growth between flat and 2%, while maintaining its outlook for adjusted diluted EPS growth between flat and 4% from fiscal 2025's $14.69.

Home Product Center Public Company Limited, or HMPRO, has announced an interim cash dividend of 0.16 baht per share from its operating results for the period from January 1, 2026 to June 30, 2026. The board of directors approved the dividend on August 25, 2026. The ex-dividend date is set for September 8, 2026, and the record date for shareholders entitled to receive the dividend is September 9, 2026. The dividend will be paid on September 22, 2026.

Home Depot reported second-quarter sales of $47.9 billion, up 5.7% from a year earlier, with adjusted diluted earnings per share of $4.92 versus $4.68 last year. Comparable sales increased 1.7% overall and 1.3% in the U.S., while online sales leveraging digital platforms rose 11%. The company received $730 million in IEEPA tariff refunds, of which $685 million reduced cost of goods sold, helping offset unplanned cost pressures from fuel, energy, and other inputs. Home Depot reaffirmed its fiscal 2026 guidance, expecting comp sales between flat and 2% growth and total sales growth of approximately 2.5% to 4.5%. Before turning to results, executives noted Ted's temporary medical leave of absence, announced last week, and wished him a quick recovery.

Home Depot announced the nationwide rollout of express delivery, using its more than 2,300 stores as local fulfillment centers for both professional contractors and do-it-yourself customers. The home improvement retailer said nearly every item in its stores is available for delivery in three hours or less for a small flat fee, with no subscription or membership required, and it expects to add even faster delivery speeds in the months ahead. Executive vice president Jordan Broggi said the majority of those deliveries are actually happening in less than one hour. The move is part of a broader retail trend toward in-store fulfillment, which diminishes demand for network carriers like FedEx and UPS. Home Depot also reported second-quarter net income of $4.8 billion, up from $4.6 billion a year earlier, with revenue up 5.7% to $47.9 billion.

Home Depot used its second-quarter fiscal 2026 earnings call to emphasize stronger Pro engagement and faster digital fulfillment while acknowledging continued pressure on larger discretionary home improvement projects. The company reported adjusted earnings of $4.92 per share, beating the Zacks Consensus Estimate of $4.71, and sales of $47.86 billion, topping the $47.23 billion estimate. Management kept its full-year outlook unchanged, reaffirming comparable sales growth of flat to 2% and total sales growth of approximately 2.5% to 4.5%. The company also discussed a $730 million IEEPA tariff refund, with $685 million reducing cost of goods sold and $45 million remaining in inventory, representing about 145 basis points of gross-margin benefit. CFO Richard McPhail said rising fuel, energy and product input costs are expected to fully offset the refunds over the year, with fiscal fourth-quarter gross margin expected to be roughly flat year over year.

Home Depot delivered a strong second quarter, beating expectations with $47.9 billion in revenue, a 5.7% year-over-year increase, and adjusted earnings per share of $4.92. Comparable sales rose 1.7%, and CFO Richard McPhail said results exceeded expectations while reaffirming the full-year outlook. The company also raised its quarterly dividend to $2.33 per share, marking its 156th consecutive cash dividend. The Pro business, anchored by SRS Distribution, is expected to generate $400 million in cross-sell this year, and online comparable sales grew 11% for the fifth straight quarter. 24/7 Wall St. maintains a buy rating with a $386.28 price target, implying 14.46% upside from the August 18 close of $337.49.

Lowe's reported quarterly earnings of $4.4 per share, beating the Zacks Consensus Estimate of $4.22 per share. This compares to earnings of $4.33 per share a year ago, with figures adjusted for non-recurring items. The home improvement retailer posted revenues of $25.96 billion for the quarter ended July 2026, missing the Zacks Consensus Estimate by 0.68%, while year-ago revenues were $23.96 billion. Lowe's shares have lost about 10.6% since the beginning of the year versus the S&P 500's gain of 12.4%. The current consensus EPS estimate is $3.12 on $22.63 billion in revenues for the coming quarter and $12.43 on $92.85 billion in revenues for the current fiscal year.