The home improvement and hardware retail sectors faced a challenging year in 2025, as sales suffered from a continued housing slump and consumers’ reluctance to spend in uncertain economic conditions.Industry leader Home Depot’s sales declined by 3.8% in its fourth quarter of 2025, ending Feb. 1, 2026, though its annual sales rose by 3.2%.”For the fourth quarter, our results were largely in-line with our expectations, reflecting the lack of storm activity in the third quarter and ongoing consumer uncertainty and pressure in housing,” CEO Ted Decker said in a statement regarding Home Depot’s fourth quarter results.Home Depot dominates the sectorHome Depot dominated the home improvement sector with 28% of the market in 2025, with Lowe’s capturing 17% of the market and Amazon generating 11% of the sector’s sales, according to the Numerator Home Improvement Tracker.The remaining hardware and home improvement retailers compete for the other 44% of the business Independent hardware stores and cooperative chains like Do it Best, Ace Hardware, and True Value Hardware are also facing economic challenges, as well as extreme competition from major big-box home improvement centers like Home Depot and Lowe’s.Retailers have made economic decisions to close their stores when they can no longer compete, can’t find a buyer to take over their business, or have decided that it’s time to retire.
Miller’s Hardware in Winter Park, Fla., has decided to close its business after liquidating its inventory, which should be completed by the end of May 2026.Shutterstock
Miller’s Hardware closes down store80-year-old Home Depot rival Miller’s Hardware is closing its iconic Winter Park, Fla., store after the family-operated business owners decided it was time to close the establishment, Fox 35-TV in Orlando reported.Miller’s Hardware, which opened for business in 1945 in a Ben Franklin variety store on Park Avenue in Winter Park , moved to its current 13,000 square-foot location on Fairbanks Avenue shortly after beginning its business, WESH-TV reported.Third generation operates family’s storeThe hardware store is owned and operated by Steve Miller, who is the third generation of Miller family owners to run the store. Miller’s son, Clay, expected to be the fourth generation to eventually take ownership the company with plans to expand operations, according to Steve Miller.The company purchased a second store as part of the beginning of expansion, but Clay Miller unexpectedly passed away in 2019, ending the hardware chain’s plans to expand, according to Fox 35-TV.Company closed another storeMiller’s Hardware already closed the second store that it had opened, and the family has now decided it will not continue to operate the flagship store.The owners did not indicate whether they had attempted to sell the store instead of liquidating. There was also no indication of whether the store was having any financial difficulties, and the company has not filed for bankruptcy.The Do it Best cooperative store said it is liquidating its inventory at discount prices, according to its Facebook page.Miller’s features leading hardware and home improvement brands, including DeWalt, Milwaukee, Rust-Oleum, Scotts, SharkBite, Stanley, Traeger, Black and Decker, Weber, Skill, Miracle Grow, and Ortho.The hardware store has not set a final date of operation yet, though the company reportedly expects to close by the end of May 2026 and sell the property.Do it Best store closesAnother Do it Best hardware cooperative member Central Center Hardware in Chillicothe, Ohio, permanently close down its store on April 10 after operating for 49 years.“Navigating the recent retail landscape has presented significant challenges, and we have made the difficult decision to close our doors,” Central Center Hardware’s owner Mark Weisenberger wrote on its Facebook page.Related: High-end steakhouse chain files Chapter 11 bankruptcy