Home Depot's SRS Unit Shows Signs of Growth Amid Sluggish Housing Market

Home Depot's (HD) stock has taken a hit over the past year, losing 27% of its value. This is in contrast to the S&P 500, which returned 17.1%. Despite this decline, one part of Home Depot's business that continues to grow is SRS, a unit with its own branches that sells to professionals.

According to recent earnings calls, most of Home Depot's stores are already selling SRS products, and the company has even rolled out an SRS purchase card for use in its stores. In fact, 90% of stores closed at least one SRS sale in the past year.

The SRS unit has also shown strong performance, with comparable sales beating the company average in the second quarter. However, it's difficult to determine exactly how fast SRS is growing within Home Depot, as the company does not report SRS sales separately.