E-Commerce Struggles Contribute to a Sales Slowdown for Lowe’s
Lowe's (NYSE: LOW) on Wednesday announced earnings results showed it is still trailing its major retailing rival Home Depot (NYSE: HD). Yet the home improvement giant had some good news to report on the profitability front.
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Sales growth landed at 2.5% in the core U.S. market, compared to Home Depot's 5%. That result was just below management's expectations, and Lowe's blamed its struggling e-commerce division for the shortfall. That segment was flat, executives said, while digital sales jumped 21% at Home Depot.
Source Fool.com
