ToughBuilt Industries TBLT Stock News

ToughBuilt Industries (NASDAQ: TBLT) is having an incredible day in the market today, trading on gains of nearly 30%. The gains come after the company announced that it has reached an agreement to put its products on Home Depot Inc (NYSE: HD) shelves.

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TBLT Stock Pops On HD Partnership

ToughBuilt Industries issued a press release earlyt his morning. In the release, the company said that it has formally launched product sales with Home Depot Canada.

In fact, TBLT has already begun to receive purchase orders. At the moment, there are 182 Home Depot stores in Canada, making it one of the largest home improvement retailers in the region. These stores cover all 10 Canadian provinces and serve Territorial Nunavut, Northwest Territories, and Yukon.

In a statement, Michael Panosian, CEO at TBLT, had the following to offer:

We are looking forward to launching our products within Home Depot Canada, which supplements our established relationship with Home Depot in the U.S. We expect to see a consistent flow of orders from Home Depot Canada over the next year. This increases our North American and international footprint and augments our relationship with one of the premier home improvement retailers. We will be supplying tools and accessories under the ToughBuilt brand. We continue to gain traction expanding our network in the U.S. and abroad with what we believe to be our superior quality products which continue to gain recognition.

This News Is Incredible

At the end of the day, the news released today proved to be incredible for ToughBuilt Industries and its investors. Think about it, Home Depot is one of the largest home improvement brands in the world, and offers up an incredible retail footprint in Canada.

Should all go well with the product launch, the sky could be the limit in this partnership. After all, a positive launch in Canada may lead Home Depot to ordering TBLT products for its United States locations.

All in all, this could launch sales of TBLT products, leading to strong growth in revenues and further expansion ahead!

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