In an interview with Barron’s, Lowe’s CEO Marvin Ellison said a rebound is inevitable in America’s something’s-gotta-give housing market
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CFO Richard McPhail said that do-it-yourself customers have been pushing forward with smaller home improvement projects.
Home Depot’s push into the pro market began in earnest last year, when the company dropped $18.5 billion to buy SRS Distribution.
With home sales continuing to limp along, Home Depot and Lowe’s are reporting that do-it-yourselfers are cutting back on projects.
Home Depot cracked open a crime ring that has accounted for $3 million in stolen goods across its Florida locations.