Lowe's fiercest target is Home Depot, not Jeff Bezos. The $60 billion do-it-yourself retailer clipped its operating margin growth for 2017 to ramp up marketing. That sliced $4 billion from its value. Attracting more shoppers to visit outlets in search of home-improvement stuff underscores an increasingly bitter rivalry with its $180 billion peer, not the seemingly unstoppable Amazon.
By all accounts, the Mooresville, North Carolina-based chain benefited from the upswing in more people looking to polish up their houses with new appliances and such. Sales were up nearly 7 percent to $19.5 billion for the quarter ending Aug. 4. At stores open for more than year, the cash registers tallied a 4.5 percent increase. The average ticket rose almost 4 percent to $71.40.