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Lowe’s readies Manhattan debut with new store format
Photo: At Broadway and 68th, a 30,000-sq.-ft. store takes shape.
New York -- Lowe’s is giving an overhaul to its store format strategy when it makes its Manhattan debut on Aug. 17.
The North Carolina-based retailer is set to open two stores in the Big Apple, with the first opening on the Upper West Side on Monday, and the second, in the city’s Chelsea neighborhood, in September.
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Why Macy's is looking forward to the holidays
Macy’s may be counting on key growth initiatives to generate sales during the holidays after reporting another disappointing quarter of financial results.
The company says same store sales declined 2.1% in the second quarter ended Aug. 1. Profit fell to $217 million, or 64 cents a share, from $292 million, or 80 cents a share, a year earlier. Total sales fell 2.6% to $6.1 billion, missing analysts’ estimates for $6.23 billion. Gross margin narrowed to 40.9% from 41.4% a year earlier.

