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...Customers at home improvement store Lowe’s pulled back more than expected on do-it-yourself discretionary spending, particularly on big-ticket items, during the three months to October, chief executive Marvin...
...If anything, we’re seeing the opposite,” chief executive Marvin Ellison said. “Despite slower sales in select discretionary categories like patios and grills, the DIY customer remains resilient.”...
...But Lowe’s is narrowing the gap....
...Tom Donohue, chief executive of the US Chamber of Commerce, Sonia Syngal, chief executive of Gap, and Marvin Ellison, chief of the home improvement retailer Lowe’s, also attended....
...“Most of us are forced to spend more time at home than we ever have in our lifetimes,” said Marvin Ellison, Lowe’s chief executive, presenting a 34 per cent jump in like-for-like sales....
...Paint, power tools and timber had sold particularly well, according to Lowe’s, which has about 2,200 outlets....
...Marvin Ellison, chief executive, said the pressures showed “we still have work to do”. He took the helm in July last year amid activist pressure to improve the group’s performance....
...divinesavages.com Khaki Fantasy Velvet Fabric by Susi Bellamy, £115 per metre Susi’s designs come from the artwork and marbled papers she has created. susi-bellamy.com Va Va Frome in Sunset Velvet by Pearl Lowe...
...Chief executive Marvin Ellison said Lowe’s anticipated “continued weakness in the Canadian housing market in the near-term, but remain confident in our market position in Canada and the long-term potential...
...Lowe’s will close down 51 underperforming stores in the US and Canada over the next three months as part of an ongoing efforts by new chief executive Marvin Ellison to slim down and better compete with rival...
...“Our top priority in the third quarter was positioning Lowe’s for long-term success by identifying underperforming or non-core businesses and stores for divestiture,” said chief executive Marvin Ellison....
...Marvin Ellison — who took the reins at Lowe’s earlier this year after a stint at struggling US department-store chain JC Penney — on Wednesday said the results were “solid” and credited them to pent-up demand...
...“[The] responsibilities formerly under these roles will be assumed by other senior leadership roles that will report directly to [chief executive Marvin] Ellison,” Lowe’s said....
...JC Penney’s chief executive Marvin Ellison is leaving the struggling department store operator to take the reins at home improvement retailer Lowe’s, the companies announced on Tuesday....
...Bill Ackman’s activist hedge fund Pershing Square has taken a $1bn stake in Lowe’s, upping the pressure on incoming chief executive Marvin Ellison to improve the home improvement retailer’s performance....
...Lowe’s, Mr Ackman said, is trading “at a substantially lower earnings multiple” than its rival Home Depot, a gap he expects to close under the leadership of new chief executive Marvin Ellison....
...US department store chain JC Penney has appointed Jill Soltau, a retail veteran with experience turning round companies, as its chief executive four months after Marvin Ellison’s surprise exit....
...Although Lowe’s trimmed its full-year sales growth forecast, it said revenue rose 7.1 per cent year on year to $20.9bn in the quarter....
...The company said it was continuing its search for a chief executive after Marvin Ellison left to join home improvement retailer Lowe’s in May....
...Earnings are likely to be more closely watched than usual after news on Tuesday that Marvin Ellison, JC Penney’s chief executive, would be leaving to take the reins at Lowe’s....
...JC Penney’s chief executive Marvin Ellison is leaving the struggling department store operator to join home improvement retailer Lowe’s, the companies announced on Tuesday....
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