Lowe's downsizing continues
About two weeks ago we reported that Lowe's decided to close 50 stores in the US and Canada. Reuters now reported that Lowe's is now looking to shed its retail operations in Mexico and two of its smaller US businesses as the (country’s second-biggest) home improvement chain strives to compete with rivals, including Home Depot. Lowe's CEO said the company failed to boost its sales due to the assortment of merchandise and an inability to restock shelves with the right kind of inventory, despite a rise in customer visits. In our opinion: quite a fundamental mistake - what's the point in promoting the business, and then when the customers come in, fail to deliver?