Interesting look at Lowe's plans in this exclusive interview with the head of Lowe's Canada, Sylvain Prud'homme, in a recent issue of Québec business publication Les affaires.
Objective is to double net profit of the combined Lowe's/Rona business by 2021.
A new operational structure around four divisions with separate P&Ls; big box format, neighbourhood stores, pros and contractors, affiliated stores.
A decentralized structure to cater to regional differences leveraging the retailer's extensive database.
Multi-million dollar investment in e-commerce. According to Prud'homme, online sales do no negatively impact in-store sales - quite the contrary. In the home renovation sector, the web is only the starting point to a bathroom renovation project where shoppers may choose a bath and a sink but eventually visit the store to confirm their choice, get tips from store personnel and complete the project with additional purchases.
Rona signs won't soon disappear from Québec's landscape but Lowe's signs will very likely appear in the province over the next few years. Let's see if the retailer decides to drop the apostrophe as Tim Hortons did when it entered the market decades ago.