Target exit could benefit Lowe’s

TORONTO — The withdrawal of Target’s Canadian operations has been a boon to Lowe’s according to the Financial Post. Lowe’s, which posted its highest same-store sales since 2007 last week, recently announced it will acquire 13 of Target’s former Canadian properties, easing concerns about its opportunities for growth after its bid for RONA was rebuffed. Speculation continues about a possible future bid, and Lowe’s is still dwarfed by its competitors. Citing Hardlines, the report notes that Home Depot’s 2014 sales of $5.6 billion matched RONA’s, while Lowe’s trailed at $1 billion.