Lowe’s made big strides in the Great White North last year thanks to the completion of its acquisition of Canadian retailer RONA. The deal helped the home improvement chain boost sales 10%. Lowe’s is trying to entice customers through an army of experts who will meet with customers in their homes to help with DIY projects. The company has benefited from the housing rebound, but not to the same extent as bigger rival Home Depot; in November it cut its profit forecast for the year on soft store traffic. Lowe’s also has not been immune to the forces turning the retail world upside down as more consumers make their purchases digitally. Last year it improved its website and in January shifted around employees’ jobs to better respond to customer needs.
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News about Lowe’s
Ouch. Shares jump 7% when CEO says he's leaving.
The two companies are riding the housing boom.
"The company’s management and board take great pleasure in sharing the company’s success with our employees.”
The retailer expects the housing boom to last a good while longer.