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Lowe's CEO: Physical stores are 'biggest central competitive advantage' in retail
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Lowe's CEO Marvin Ellison doesn't believe physical stores are a thing of the past. In fact, he says they are the key to staying competitive in today's retail environment.
"The biggest central competitive advantage of brick-and-mortar retail is your physical stores and your employees that work in those stores," Ellison said during a keynote session at the National Retail Federation's 2023 expo in New York City on Monday.
Ellison said that he has frequently discussed this with FedEx founder and former CEO Fred Smith over the years even as talk about the retail apocalypse gained steam and e-commerce started to grow.
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