While specialty stores see growth, The Home Depot and Lowe’s still lead in home improvement

The National Retail Federation’s annual Top 100 Retailers list ranks retailers based on U.S. sales. Walmart remains in the top spot, followed by Amazon, Costco, Kroger and The Home Depot. This series takes a look at power players in select retail categories. Power players are retailers in this Top 100 list with 2025 U.S. sales equal to or greater than 10% of the sales of the category leader. 

There’s no doubt that two giants dominate the hardware and home improvement category of NRF’s Top 100 Retailers. The Home Depot ranks at No. 5 on the overall list, posting $154.74 billion in sales in 2025, followed closely by Lowe’s Companies, No. 9 on the list with $83.96 billion in sales. 

But specialty retailers are hitting segments of that same audience. Ace Hardware and True Value Co. both boast a significant number of stores — more than twice as many stores as Lowe’s and The Home Depot. Both also saw sales growing at a faster pace.

Mark Mathews, NRF’s chief economist and executive director of research, attributes their success to the “owner-proprietor model,” which draws in those who need advice on a project. 

Also seeing growth: Sherwin-Williams, which focuses almost exclusively on paint and paint products. Harbor Freight serves those looking for tools, particularly contractors. 

All these companies swim a bit upstream from a soft housing market, pivoting into home maintenance when a new home may be out of reach. 

See the full 2026 Top 100 Retailers list.