Lowe’s steps up plans to gain market share, reiterates fiscal 2020 forecast

Lowe’s said it is pivoting from catch-up mode to accelerating plans to grab market share from its rivals, after working for the last two years on its turnaround efforts.

At a Wednesday investor conference, CEO Marvin Ellison said the home improvement retailer will now focus on capturing market share in the approximately $900 billion U.S. home improvement market.

“Our commitment to retail fundamentals has been essential to our 2020 financial success,” he said. “Our supply chain, in-store and digital systems would have collapsed under the weight of the unprecedented customer…