Lowe's is making major moves in Canada with the $2.3 billion purchase of RONA Inc., a Canadian home improvement retailer and distributor.
Lowe's had previously made an unsolicited bid on the company more than three years ago, but the substantially higher offer this time around was accepted by Rona's board.
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Challenging holiday takes toll on Kohl’s profit
Positive trends with its online business were not enough to help Kohl’s offset in-store weakness and intense competition, which pressured profits and caused a significant downward revision in guidance.
Kohl’s said its fourth quarter same-store sales increased 0.4% while the digital business grew 30%. Full year same store sales increase 0.7%.
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Commentary: These are the type of stores Amazon should open
It makes no sense for Amazon.com to open the type of physical bookstores it helped obliterate, not when the online giant already has the physical infrastructure in place to support a large scale rollout of another type of store in one of retail’s hottest sectors.
