Lowe’s CEO flags alarming trend that’s hurting sales
The home improvement retailer is struggling to reverse a major problem.
Lowe’s (LOW) , a one-stop shop for home improvement goods, continues to see a startling pattern in customer behavior. It's impacting sales, and its CEO is flagging the source of the problem.
In Lowe’s latest earnings report, it revealed that its comparable sales dipped by 1.7% year-over-year during the first quarter of this year, while the number of transactions dropped by 3.9%.
