Lowe’s made big strides in the Great White North last year thanks to the completion of its acquisition of Canadian retailer RONA. The deal helped the home improvement chain boost sales 10%. Lowe’s is trying to entice customers through an army of experts who will meet with customers in their homes to help with DIY projects. The company has benefited from the housing rebound, but not to the same extent as bigger rival Home Depot; in November it cut its profit forecast for the year on soft store traffic. Lowe’s also has not been immune to the forces turning the retail world upside down as more consumers make their purchases digitally. Last year it improved its website and in January shifted around employees’ jobs to better respond to customer needs.
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The retailer expects the housing boom to last a good while longer.
The companies' stocks had enjoyed an 8% boost since August 24.
Optimism was also driven by the coming announcement of Apple's new iPhone.