Why Is Lowe’s Losing With Digital?
Lowe's (NYSE: LOW) is one of the biggest retailers in the United States, and it's still outdone by its even larger rival, Home Depot. However, there seems to be plenty of business to go around, and Lowe's is working on taking more of it.
Despite increasing sales, though, Lowes.com has been stuck in the digital dinosaur age and watching the e-commerce boat pass by. Under the leadership of new CEO Marvin Ellison, the company is updating its web site and trying to boost its presence in the digital market.
Lowe's released mixed fourth-quarter earnings in February that showed 2.4% year-over-year top line growth and 2.6% U.S. comparable-sales growth. E-commerce sales disappointed as they increased just 3% over the prior-year period.
Source Fool.com
