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Houzz Stat: Cost and size of bathroom remodels

BY Erin Carlyle, Houzz

Remodel costs vary by size and scope. The average cost of a major remodel for a master bathroom over 100 square feet was $21,000, according to the survey. For bathrooms of 100 square feet or less, the average major remodel cost $12,300. A major remodel was defined as one in which at least the cabinetry, vanity, countertops and toilet were replaced.

The remaining projects were categorized as minor remodels. For master bathrooms over 100 square feet, the average cost for these minor projects was $9,400, while for spaces 100 square feet or smaller, the average cost was $5,400, the survey found.

Those ages 55 and up spent more. Renovating homeowners ages 25 to 34 spent an average of $12,500 on a major remodel of a large master bathroom, while those ages 55 and up spent an average of $22,800. Similarly, the younger group spent an average of $9,200 on a major remodel of a smaller master bathroom, while those ages 55 and up spent an average of $13,900.

See the full study here.

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Strong monthly sales for NAICS 444

BY HBSDealer Staff

Monthly sales for U.S. retail and food services for October 2017 increased 0.2% to a seasonally adjusted $486.6 billion. Compared to October 2016, the sales estimate released today by the U.S. Census bureau marked a 4.6% increase.

Among all the kinds of businesses tracked, the category of building material & garden equipment and supplies dealers (NAICS 444, a group that includes home centers, hardware stores and LBM dealers), showed the highest year-over-year growth. The October 2017 estimate for the 444 category was $32.1 billion, up 8.8% from the previous year, but down from September.

NAICS 444 sales, adjusted

October 2017:             $32,120,000,000
September 2017:        $32,516,000,000
October 2016:             $29,530,000,000

Estimates of sales at non-store retailers declined 0.3% compared to September 2017, but gained 6.8% compared to Oct. 2016.

The U.S. Census Bureau’s monthly Advance Sales report is available here.

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Behind a ‘unique’ $25 billion quarter

BY HBSDealer Staff

Five Home Depot departments scored double-digit comps in the third quarter, described by CEO Creaig Menear as a “unique” three months marked by natural disasters. Executives at Atlanta-based The Home Depot elaborated on this and other highlights from the company’s $25 billion third-quarter performance during its earnings call.

Executive VP of Merchandising Ted Decker said lumber, appliances, electrical, indoor garden, and tools were the five departments that grew comps by 10% or more in the quarter. He also pointed to strength in the core business, as well as double-digit comps in the storm-related categories of generators, wet-dry vacs, tarps, and ladders.

Pro sales, which also scored double-digit comps, once again outpaced DIY sales at the world’s largest home-improvement retailer.

“We believe that the work we are doing to enhance the service capabilities for the unique needs of the Pro customer continues to resonate,” said Menear.

Other highlights from the company’s third-quarter performance:

  • Online sales grew approximately 19%in the quarter, now representing approximately 6.2%of our total sales.
  • About 45% of online U.S. orders are picked up in stores.
  • Comp average ticket increased 5.1%, and comp transactions increased 2.7%.
  • Big-ticket sales in the third quarter, or transactions over $900, which represent approximately 22% of our U.S. sales, were up 12.1%.
  • Transactions for tickets under $50, which make up about 16% of our U.S. sales, grew by 1.8% in the quarter.

Looking ahead to the fourth quarter product mix, the company intends to lean on what it calls its “product authority” in the area of cordless power tools, and expand it to adjacent categories. The company has high hopes for the Dewalt FlexVolt Cordless Air Compressor, as well as a new Makita LXT product line that offers 36-volt power

Decker pointed to Milwaukee, Dewalt, Ryobi, Makita, Diablo and Husky as a partial list of brands that will strengthen the retailer’s Gift Center in the fourth quarter.

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