Lowe’s Holds Its Own in the Midst of Pandemic
Lowe’s CEO Marvin Ellison gave a rare update on how the retailer is holding up as the coronavirus spreads in the U.S.
Though Ellison would not go into detail, he said the home improvement retailer is holding its own. Shoppers are buying large appliances such as refrigerators and freezers to hold extra food, and many are using their new leisure time to complete various home improvement projects. But the ever-changing nature of the situation means that any benefit to any given retailer’s business could be fleeting.
And the uncertainty around the outbreak comes at a particularly fraught time for Lowe’s. Unlike most retailers, the home-improvement chain’s busiest time of year is April and May, when Americans (and their contractors) shake off winter and start home projects.