Mooresville, North Carolina-based home improvement retailer Lowe’s Companies, Inc. announced that it is expanding its warehouse network to store offseason goods, a move the retailer says will help it distribute inventory more efficiently, according to a March 8 report from The Wall Street Journal.
Lowe’s has invested $1.7 billion in its supply chain to fill online orders faster through these facilities, according to the report. Among the changes it has made to its network are e-Commerce fulfillment centers for picking and packing orders to be delivered to customers.
Lowe’s said it also has opened new import distribution centers across the country to store seasonal and outdoor living items until they are needed, the WSJ reported.
This month, Lowe’s will open its latest import distribution center in Nanticoke, Pennsylvania. The building will be added to a network of five centers in Pennsylvania, California and Georgia, a company spokesperson told the WSJ. Read more about the company’s plan here.
On March 1, the company reported 2022 fourth-quarter sales of $22.4 billion, an increase over the same quarter in 2021 but down sequentially from the $23.5 billion it reported in 2022’s third quarter.