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Lowe’s expects pickup in home improvement spending



 

Lowe’s expects pickup in home improvement spending

Lowe’s expects pickup in home improvement spending
News from Reuters:

Wed Aug 20, 2014 12:34pm EDT

A view of the sign outside the Lowes store in Westminster, Colorado February 26, 2014.

Credit: Reuters/Rick Wilking

(Reuters) – Lowe’s Cos Inc (LOW.N), the No. 2 U.S. home improvement products retailer, echoed larger rival Home Depot Inc (HD.N) in anticipating higher spending on renovations in the second half of the year as the U.S. housing market showed signs of a recovery.

Lowe’s said it expects higher demand for products such as electronic appliances, fashion fixtures and flooring as people spruce up their homes ahead of the holidays.

“Consumers are indicating stronger intentions to complete a home-improvement project, with most of them planning a specific project in the next three months,” Lowe’s Chief Executive Robert Niblock said on a conference call with analysts. continues on Reuters

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