Bloomberg staffer Matthew Townsend reports that Lowe's has posted solid results as it rides the years'-long housing rebound. But its growth hasn’t quite matched larger rival Home Depot Inc., and investors notice the difference.
Townsend's article focuses on the contrast in store location tactics and strategies between the two home improvement chains, with Home Depot bounding ahead in urban downtowns and in the Northeast region. This locational edge allowed Home Depot to take advantage of milder winter weather in these locations, as people continued with improvement projects during what normally may have been a slower seasonal stretch. Townsend writes:
“Our footprint, where our stores are, doesn’t exactly match up with where Home Depot’s footprint is,” Lowe’s Chief Executive Officer Robert Niblock said in an interview. “They have more stores in the Northeast than we do. If you think about the mild winter and the delta between a normal winter and what we saw this year, probably some of the biggest difference between those was in the Northeast.”