The unpredictable economy in America was offset, however, by the company's employees who drove their Customer Focused scores to the highest levels ever ("Company view," 2010).
It's Lowe's entrepreneurial spirit that will be crucial in overcoming these economic challenges. The company continues to develop proprietary product lines to not only take advantage of the continued demand for private labels, such as the Kobalt brand ("Lowe's," 2008) but also to differentiate itself from its competitors. Market expansion also hasn't just been limited to the traditional building of new stores. In 1999, the company expanded in the western U.S. By purchasing 40 Eagle Hardware & Garden stores (Jones, 2000). International expansion into Australia is planned through the company's joint venture with Woolworths ("Woolworths," 2009).
Recommendations:
Recommendations for Lowe's include using the company's strong brand name value to diversify themselves beyond simply being a low price leader in the home improvement industry. Competing primarily on price has led to the company resorting to excessive promotions that have severely reduced Lowe's gross margins. Instead, the company can become the industry leader in an area that is showing strong growth -- eco-friendly products and materials. As consumers are looking for environmentally responsible home improvement renovations, Lowe's can set itself apart from competitors like Home Depot by providing well-trained employees to provide eco-friendly solutions to their home improvement projects. This will be especially helpful to Lowe's margins as most consumers are willing to pay more for environmentally friendly products and materials.
This recommendation can help counter the primary threats Lowe's is facing as well. Regarding rising labor costs, although there is little the company...
Lowe's Companies, Inc. Lowe's Companies Inc. Lowe's Companies, Inc. Lowe's Companies, Inc. This report discusses the home improvement retailer, Lowe's Companies, Inc. The report profiles Lowe's, providing information about its background, operations, size, and relative industry position, as well as lists key competitors. The report also includes a profile of the home improvement retail industry and discusses the current economic outlook and sales forecasts through 2015. The report also analyzes Lowe's consolidated cash flow statements
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