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Lowe's CEO doesn't see US slipping into 'massive recession or economic downturn'
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Lowe's CEO Marvin Ellison on Monday offered a more optimistic outlook for 2023, saying he doesn't believe the economy will slip into a major recession.
During a keynote session at the National Retail Federation's 2023 expo in New York City, Ellison said that while there "will be parts of the macro environment that we're going to see some type of slowdown," he doesn't believe there will be "some big massive economic shock."
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"We don't see anything that we believe is going to be a big, massive recession or economic downturn," Ellison said while speaking with NRF CEO Matt Shay.
Ellison, who took over the company in 2018, is also very optimistic about its home improvement business heading into its busiest season.