Lowes, a home improvement retailer, faces sales growth challenges with a mere 0.4% increase in comparable sales and a slight drop in store foot traffic. Despite recent acquisitions of Artisan Design Group and Foundation Building Materials, the company attributes slower growth to the absence of hurricane-driven sales and economic uncertainty. Lowes CEO, Marvin Ellison, anticipates increased demand with lower interest rates and the lock-in effect, where homeowners prefer renovating over moving. To counter these trends, Lowes is enhancing digital offerings, online shopping experience, and loyalty programs, but expects flat comparable sales for the year.
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