By Yahoo Finance Video
Publication Date: 2026-04-14 15:50:00
00:00 Speaker A
got the chance to sit down with Lowe CEO Marvin Ellison to hear his take on the health of the consumer and how the company is investing in the trades. We spoke this morning and here’s exactly what he told me. He said that Lowe’s plans to invest $250 million this year to create 250,000 skilled trade positions. Now this comes at a time where he also said that the construction industry overall needs nearly 350,000 net new workers as many of them retired over the next five years
00:39 Speaker A
about 41 of the construction workforce will be retiring. and so that need is there. But he said that there’s a combination of embracing that human capital with AI. and he said that Lowe’s is deeply involved in AI as a company. They have a partnership with Open AI to create their virtual assistant Milo, aka MyLowe. They they also partner with Nvidia, Pateer and Google. And he told me that they’re on the leading edge of AI as a company. and while AI can write code, it can’t climb a 12-foot ladder and
01:11 Speaker A
it can’t fix a hole in your roof. So that was a pretty pretty significant just to go show the dual side dual sided there of both AI and the need for human capital as well. Did ask him about the overall environment. This comes at a time where guys, we’re seeing existing home sales decline sharply in the month of March. And he said that right now, he’s optimistic that the fluid situation will moderate. He said quote, we’re…
