Do it Best reported $4.8 billion in sales for the fiscal year ended June 24, 2023, building on three consecutive years of record growth. Since 2021, the company has welcomed nearly 800 new locations to the cooperative. This year, Do it Best was once again named Indiana’s largest privately held company by Indianapolis Business Journal.
“We’re executing on an aggressive growth plan focused on increasing expansion through new locations and acquisitions, and adding more members to the Do it Best family, all while serving our existing members with excellence,” says Do it Best president and CEO Dan Starr. “We’ve overcome a difficult retail environment to achieve historic success, delivering the second highest rebate in our history, returning $152 million to our members. This is just one way we’re investing in the continued growth and success of our members’ businesses.”
This weekend, the 2023 Do it Best Fall Market will take place at the Indianapolis Convention Center, Sept. 8-11. The market provides members with industry insights, proven best practices and exclusive purchasing opportunities that drive growth.
“A record number of members are joining us in Indy,” says Do it Best board chairman Joe Taylor. “And we’re looking forward to welcoming all of our new members to their first market—as well as welcoming existing members back for another excellent experience.”
“We’re fully committed to being the best partner in independent home improvement by returning money back to our members to support their businesses, families, and communities,” says Starr.
He says the company is positioned for further success in the next fiscal year.
“Having wrapped up a profitable fiscal year, it’s an exciting time of year, full of possibilities ahead for our co-op,” Starr says. “We’re continuing to invest in technology that drives our distribution excellence, as well as a new e-commerce platform and meaningful online content, driving online and in-store sales for our members. We will continue investing in our team and our communities and look forward to another strong year ahead.”
Do it Best Annual Report Highlights
Click here to follow Hardware Retailing and the North American Hardware and Paint Association on Facebook, Instagram and LinkedIn for in-the-moment coverage of fall market events, and subscribe to e-newsletters to receive recaps and other industry updates.