I started my career in one of those, they had stuff nobody else had, they had been in business since 1904, when Home Depot came to town they closed shortly after.
The main advantage the local hardware store has is they can cater to the local demographics, which might be completely different than where the head office buyer lives.
The best product selection I ever had with a national chain was when I worked at a store where the national buyer actually lived, makes a huge difference, they also listen to employees that live and work nearby, as they get it.
Try talking to a buyer that lives on the other coast, you know nothing according to them, a shame really.