The 2023 Cost of Doing Business Study presents the North American Hardware and Paint Association’s (NHPA) annual financial and operational profile of independent hardware stores, home centers, lumber and building materials (LBM) outlets and paint and decorating outlets.
This study assesses the financial performance of home improvement retailers who graciously submitted confidential financial reports for fiscal year 2022 to NHPA. The study presents composite income statements and balance sheets plus averages for key financial performance ratios.
The data is segmented for hardware stores, home centers, LBM outlets and paint and decorating outlets. In each segment, data is presented for the typical store, for high-profit stores, for single-unit and multiple-unit companies and for sales volume categories. In addition, there is a five-year historical trend for typical stores in each segment except paint.
Retailers can use this data to measure their own performance against industry averages. The data develops benchmarks retailers can use to establish financial plans to improve profitability