Do it Best reports record 3rd multi-billion sales year
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Fort Wayne-based Do it Best Corp. reported $4.8 billion in sales during its fiscal year, marking a third consecutive year of record growth for the hardware, lumber, and building materials cooperative.
The company said will return its second-highest rebate to its member-owners, totaling $152 million. The fiscal year ended June 24.
Do It Best is the largest privately owned business in the state, according to IBJ research and employs over 1,800 people with around 500 employees in Indiana.
In the last three years, the member-owned business said it has added 800 new locations. The company has 3,500 member-owned stores in all 50 states and over 50 countries.
“Having wrapped up a profitable fiscal year, it’s an exciting time of year full of possibilities ahead for our co-op,” President and CEO Dan Star said in a news release. “We will continue investing in our team and our communities and look forward to another strong year ahead.”
The company is poised to continue its growth and success into the next fiscal year, Starr said, and will invest in technology propelling its distribution, e-commerce platform and sales.
Do it Best moved its headquarters in 2022 to the Electric Works campus in Fort Wayne as a means to attract talent and work with its partners and customers. It also launched the Do it Best Foundation in 2020, dealing out grants and supporting local community betterment initiatives.