LOWLowe's Companies, Inc.

Lowe's is the second home-improvement chain, its revenue following the housing market and mortgage costs.

The buyers are the same two groups as at its competitor: homeowners and professional contractors. Lowe's has historically skewed toward the former, and it is they who cut spending first when credit becomes expensive. Growing the contractor share is the company's main line of work.

Demand is tied to property transactions: renovation most often happens around a move, so high mortgage rates hit revenue directly even though the house itself has not gone anywhere. Large projects are deferred first; small maintenance holds up better.

Logistics and store proximity are a real advantage: heavy, bulky goods are awkward to ship by parcel. The company has spent years on operating efficiency, pays a dividend with a long record of increases and buys back stock actively.