Lowe's Acquires Retail Analytics Platform From Boomerang Commerce
May 20 2019 - 11:58AM
Dow Jones News
By Colin Kellaher
Lowe's Cos. (LOW) on Monday said it will acquire the
retail-analytics platform of retail-technology firm Boomerang
Commerce for an undisclosed amount.
The Mooresville, N.C., home-improvement retailer said the
technology will bolster strategic and data-driven pricing and
merchandise assortment decisions across its businesses.
Marvin Ellison, who joined Lowe's as chief executive last July,
has pushed the chain to stock more faster-selling items while
reducing inventory of lower-performing ones.
Lowe's said the acquisition includes the platform's proprietary
technology and tools but excludes customer contracts and related
confidential information and data.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 20, 2019 11:43 ET (15:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Lowes Companies (NYSE:LOW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lowes Companies (NYSE:LOW)
Historical Stock Chart
From Apr 2023 to Apr 2024
