Households are hitting pause on their tub-to-shower conversion plans and buying new shower curtains instead.
After a pandemic-era renovation craze, the nation’s two largest home improvement retailers say customers are spending less on big projects in favor of cheaper do-it-yourself fixes.
Lowe’s said this week that it’s seeing shoppers cut back on kitchen and bathroom purchases and becoming more cautious about buying big-ticket appliances.
“Those who did engage in home improvement activities took on smaller, nondiscretionary projects with a heightened focus on value,” Lowe’s CEO Marvin Ellison told investors when the company reported its fourth-quarter earnings Tuesday. Sales dropped 6.2%