Lowe’s shares fell more than double that of Home Depot last week, following a weaker-than-expected earnings report.
Shares of Lowe's were down 3.4 percent at $27.50 in trading before the market opened, putting its competitor, Home Depot ahead of the market.
Late last year, Lowe’s decided to move away from their “everyday low prices” promotional strategy, CNBC reports.
"They need to really sharpen their strategy around big-ticket, around promotions, get the right product in there, and then maybe later in the summer it's a name you start to take a look at,” said Christopher Horvers, retail-hardlines analyst for JPMorgan Chase.