Lowe’s reports big-ticket SKU “pressure”

Lowe’s Cos., which reported first quarter sales this week that were five percent below last year’s Q1, is feeling the pinch on big-ticket items now that the Covid-driven consumer frenzy for home improvements has abated. “Candidly, what we’re seeing is pressure across big-ticket discretionary purchases primarily,” Marvin Ellison, president and CEO of Lowe’s, said on a call with investors and journalists.

(We’ll have more on Lowe’s latest results, and where the growth is coming from for this retailer, in Monday’s edition of our Hardlines Weekly Report! Click here to learn more and get four free issues on us!)