Hardware store Ace Hardware Corporation reported second-quarter 2026 revenue of $3 billion, up 5.9% year-on-year, while net income increased to $155.6 million. U.S. retail same-store sales rose 1.1%, supported by a 3.1% increase in average transaction value, which more than offset a 1.9% decline in store transactions. The company also received $11.8 million in tariff refunds during the quarter. Source: Ace hardware

Samsung Samsung Electronics has completed a new HVAC manufacturing facility for its subsidiary FläktGroup in Pune, Maharashtra, establishing a production hub to serve customers across India and the wider Asia-Pacific region. The company held a completion ceremony for the facility, attended by Samsung Electronics Head of Digital Appliances Business Kim Cheol-gi, FläktGroup CEO David Dorney and more than 100 other officials. Built on a 13,826-square-meter site, the facility was

FläktGroup Inaugurates New Manufacturing Facility in Pune, India India: FläktGroup, a Samsung company, inaugurated a new 13,800-square-metre manufacturing facility in Pune, Maharashtra, including more than 12,000 square metres of production space, to strengthen its HVAC and critical cooling capabilities in India and across Asia Pacific. The facility will manufacture AHUs, Fan Wall Units, CRAH/CRAC solutions and heat exchangers, with annual capacity of approximately 6,500 unit

Justin Reinke to Succeed John Herrington as President of Midea America Corporation U.S.: Midea America Corporation (MAC) announced that Justin Reinke will succeed John Herrington as President, officially assuming the role on November 1, 2026, following a planned transition period with Herrington. Reinke joined Midea in 2024 as Head of Sales and became Head of Product Marketing in 2025, bringing more than 20 years of industry experience, including leadership roles at Samsung a

Philippine Economy Grows 2.3% in Q2 Amid Slower Economic Activity Philippine: The Philippine economy grew 2.3% year-on-year in the second quarter, below the 2.8% growth expected by economists in a Reuters poll and unchanged from the first-quarter pace. On a seasonally adjusted basis, GDP increased 0.6% quarter-on-quarter, down from 0.9% in the previous quarter. Annual inflation slowed for a third consecutive month to 6.2% in July from 6.4% in June, driven by slower transport

Japan’s Economy Expands 1.1% in Q2 2026, Below Expectations Japan: Japan’s economy expanded at an annualised rate of 1.1% in Q2 2026, easing from a marginally revised 1.9% growth in Q1 and below market expectations of 2.0%. Private consumption made no contribution to GDP amid elevated cost pressures, while government spending increased due to economic support measures. Capital spending declined further amid mounting geopolitical tensions, while net trade contributed positivel

Singapore Economy Expands 6.1% in H1 2026 Amid Strong AI Investment Singapore: Singapore’s economy expanded 6.1% year-on-year in the first half of 2026, supported by an accelerating global boom in artificial intelligence investment. In Q2, GDP grew 5.9% year-on-year, easing from 6.3% in Q1, while on a seasonally adjusted quarter-on-quarter basis, the economy expanded 1.4%, following 1.2% growth in Q1. The final Q2 growth figure was revised up from the advance estimate of 5.7%

German DIY and Garden Retailers See Adjusted Growth Despite Fragile Economic Conditions Germany: The DIY and garden retail sector recorded mixed performance in H1 2026 amid subdued consumer sentiment, rising inflation, and energy prices. Germany’s sales declined 0.4% YoY to EUR 10.99 billion (USD 12.73 billion), while Austria remained stable at EUR 1.63 billion (USD 1.89 billion; 0.0%) and Switzerland declined 1.4% to CHF 1.78 billion (USD 2.19 billion). Source: BHB Associati

House renovation USA: The NAHB State Projections of Remodeling (SPR) indicates continued momentum in U.S. remodeling activity, with California, Texas and Florida emerging as the largest state markets by remodeling expenditure, followed by New York and North Carolina. Meanwhile, Michigan recorded the strongest increase in remodeling spending, with notable gains also reported in Virginia, North Carolina, Alabama and Washington. The trend highlights sustained remodeling activity

Algeria SKD Legislation Algeria’s heating, ventilation and air conditioning (HVAC) industry is undergoing a major transformation, driven in large part by changes in the country’s regulatory environment. One of the major developments has been the introduction and enforcement of Semi-Knocked Down (SKD) legislation that has changed the way international and domestic manufacturers operate. With the enforcement of these regulations, more and more HVAC companies are partnering with

Ferguson Reports Stronger Second-Quarter Performance USA: Ferguson Enterprises reported solid results for the second quarter ended 30 June 2026, with sales rising 4.6% to US$8.8 billion. The company recorded strong growth in the non residential market and returned to growth in residential demand despite challenging market conditions. Ferguson completed five acquisitions during the quarter and agreed to acquire FloWorks, strengthening its technical distribution capabilities. T

Home Depot's SRS to Acquire Lohmiller, Expanding HVAC Network USA: SRS Distribution, a wholly owned subsidiary of The Home Depot, has agreed to acquire Lohmiller & Company, a Colorado-based wholesale distributor of HVAC equipment, parts and supplies. Financial terms were not disclosed. Founded in 1990, Lohmiller distributes Carrier’s residential, light commercial and applied HVAC products through four locations and employs around 220 people. The acquisition follows SRS’s rece