In the opening keynote address kicking off the virtual Chapter 1 of the National Retail Federation Big Show, Mike George, president and CEO of Qurate Retail Group and NRF chairman, spotlighted how the retail sector reacted to the COVID-19 pandemic and social turbulence over the past year, emphasizing how the industry worked to improve conditions in communities around the United States.
In a rapidly evolving marketplace, Greentouch Home has established the ED Ellen DeGeneres line of bathroom furnishings in a joint venture partnership as it works with popular brands to drive sales and support business expansion.
Lowe’s, in hosting a virtual investor update, has unveiled a new strategy to grow market share. Building on its strong execution of its retail fundamentals strategy, the company will be introducing the Total Home strategy to further accelerate market share gains.
The Spruce, a Dotdash media brand, has rolled out a new organization product line, The Spruce Organization Collection. Developed by The Spruce editorial team and iDesign in partnership with Lowe’s, the line of containers and bins was created for those looking for uncomplicated organization solutions to maximize use of space at home.
The coronavirus pandemic gave home centers/home improvement retailers an essential retailer designation in the U.S., and Lowe’s benefited from that status, substantially growing its store traffic, market share and sales as consumers looked to the retailer for their do-it-yourself and home improvement needs.
Lowe’s will provide an additional $100 million in discretionary bonuses to recognize front-line hourly associates for their continued service and support of their communities, bringing the company’s total commitment to associates and communities during the pandemic to more than $775 million.
At a time when home has become the new epicenter of personal style, Lowe’s and New York Fashion Week: The Shows have come together to reimagine one of fashion’s most iconic moments, transporting high fashion from the runway to the home.
Lowe’s will provide an additional $100 million in bonuses to assist associates with unforeseen expenses and hardships, increasing the company’s total commitment to associates and communities during the pandemic to nearly $600 million.
Both The Home Depot and Lowe’s are the latest retailers instituting face mask requirements in stores due to the spread of the coronavirus.