The company will also extend its rural offerings, expand jobsite delivery and teased initiatives that are expected to deliver $1 billion in annual savings.
Dive Brief:
- Lowe’s plans to open 10 to 15
stores annually in the coming years in fast-growing U.S. markets as part
of a larger multi-point strategy to grow and capture more market share.
The company plans to tap its larger footprint to attract new DIY and
pro customers, the company said in a Wednesday press release alongside
its investor conference.
- The company plans to also expand its rural product assortment
to 150 more stores, which would bring the format to nearly 500
locations overall. The rural assortment offers expanded selections that
appeal to the farm segment, including pet, work apparel, automotive
supplies and utility vehicles.
- Lowe’s also said Wednesday it launched a home improvement product marketplace. The retailer said it is working with new and existing sellers and suppliers “to offer a wider selection of products without carrying the inventory, managing pricing or investing in new online fulfillment centers.”
In total, Lowe’s announced five long-term growth initiatives for 2025 during its analyst and investor conference Wednesday. They are driving pro penetration, accelerating online sales, expanding home services, creating a loyalty ecosystem and increasing space productivity.
RSK: Wonder why Lowe`s hasn`t expanded into our market. They are in SE Wisconsin but void in the rest of the state.
Share this article on you social outlets
Our Sponsors
- - Volume: 24 - WEEK: 51 Date: 12/17/2024 3:58:04 PM -