By Nancy Meyer
Lighting retailers across the channels are being affected by today’s tough economy.
The two lighting market-share leaders, Home Depot and Lowe’s, have cut back on store growth and are focusing on managing inventories, according to vendors. Extreme sales weakness in lighting is reflected in much smaller orders, they said. Sources estimate a double-digit sales decline in lighting for Home Depot, and a high-single-digit decline at Lowe’s in 2007, compared with the prior year. The outlook for 2008 is even bleaker, sources told HFN.