For the second year in a row, a Calabasas, California tool supply store has made the National Retail Federation’s list of the nation’s top 25 fastest-growing retail companies.
Harbor Freight Tools, founded in 1977, specializes in a wide variety of tools, including power drills and drivers, ratchets, sockets, grinders, and power saws.
With annual revenue in excess of $5 billion, up from $4.7 billion in 2021, the company has in excess of 1,400 stores, and, according to reports, opened more than 100 new locations last year.
The company currently has 25 stores in Arizona, 21 in Colorado; 17 in New Mexico; and 119 in Texas. The state with the most Harbor Freight Tools locations is the state of the company’s origins, California, with 136 stores.
In just the last two months Harbor Freight Tools has opened stores in Alliance, Ohio; Phenix City, Alabama; Amite, Louisiana; and Elko, Nevada.
The average Harbor Freight Tools store measures anywhere from 15,000 square feet to 16,500 square feet, and includes two offices, a break room, at least two restrooms, and a loading dock.
The National Retail Federation’s top 25 growth list this year is heavy with grocery and convenience stores. Stores catering to contractors included Costco Wholesale, with $23.7 billion in sales, and Sherman-Williams, with $1.2 billion.
By Garry Boulard
