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Stock impact report

Lowe's acquires Artisan Design Group in move to renovate strategy, compete with Home Depot [USA TODAY]

Lowe's Companies, Inc. (LOW) 
Last lowe's companies, inc. earnings: 2/26 06:00 am Check Earnings Report
Company Research Source: USA TODAY
ADG, headquartered in Dallas, Texas, is a "leading nationwide provider of design, distribution and installation services" that focuses on flooring, cabinets and countertops, according to an April 14 news release announcing the move. The design company currently operates 132 distribution, design and service facilities and coordinates installation through over 3,200 personnel across 18 state, according to the announcement. Lowe's said ADG will help expand Lowe's Pro business in the approximately $50 billion interior finishes market. "With more than 18 million homes needed in the United States by 2033, we expect new home construction will be a major driver of Pro planned spend for the next decade," said Marvin R. Ellison, Lowe's chairman, president and CEO, in a statement. "The acquisition of ADG allows us to build on our momentum with Pro planned spend and is expected to expand our total addressable market by approximately $50 billion." The transaction is expected to close in t Show less Read more
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