Lowe’s Gives Activist More Fuel After Trailing Home Depot Again
- Company’s shares drop most in two years after posting results
- Same-store sales were brisk, but short of larger rival’s pace
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Lowe’s Cos., facing mounting pressure from an activist investor after falling further behind Home Depot Inc., debuted a six-point plan to improve operations -- and is stressing a new-found “urgency” to produce results.
With fourth-quarter results missing estimates, Lowe’s executives pledged to act quickly to improve their employees’ engagement with customers, enhance their product mix and offer speedier deliveries, among other initiatives.