Mooresville, N.C. -- Lowe’s Cos. said Thursday it has acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash.
According to Lowe’s, the transaction will add depth and expertise to its online business.
“The addition of ATG Stores is a strategic fit, providing more opportunities for Lowe’s to be a relevant partner at every stage of the home improvement process and deliver better customer experiences from inspiration to planning to enjoyment,” said Robert A. Niblock, chairman, president and CEO, Lowe’s.
ATG Stores will remain an independent, wholly owned subsidiary of Lowe’s Cos. Terms of the purchase were not disclosed.
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Post a CommentAs a home wife I love
As a home wife I love visiting home improvement stores, many a times you can find good deals on stuff that you would like to use to decorate your home. I usually visit the store 2-4 times a month.Aurora Il Landscape Lighting
Lowe's, the second-largest
Lowe's, the second-largest home-improvement retailer in the U.S., has seen its bottom line challenged in recent quarters due to low consumer confidence and a slow recovery in the housing market that delayed remodeling and other home-improvement plans. Lowe's has also faced higher costs for commodities such as lumber and fuel. Last month, all three major credit-ratings firms cut their views on the retailer after it posted fiscal third-quarter earnings that fell 44% as store-closing charges masked slightly improved same-store sales.