英文洞察：第三方在线市场对劳氏公司的影响

USA | HardlinesLowe's Cos.Equity ResearchMay 27, 2025 Jonathan Matuszewski, CFA *  | Equity Analyst(212) 284-1737 | jmatuszewski@jefferies.comRandal J. Konik *  | Equity Analyst(212) 708-2719 | rkonik@jefferies.comInsight: The Impact Of 3P Online MarketplacesLowe's marketplace is live with 3P sellers in the low hundreds & thousands ofnew items added to the assortment. With a robust pipeline of sellers awaitingapproval, we see 3P vendor count rising to the high hundreds soon, and thisscale will invite high-margin commission revenue as well as mechanism tooptimize inventory on-hand for added working capital efficiency. We outlinea few marketplace success stories to foreshadow what's ahead for LOW.Reiterate Buy.Leroy Merlin. A major player in the global DIY market, the home improvement retailer servesconsumers across Europe, Asia, South America, and Africa. Leroy Merlin launched its 3Pmarketplace in 2018, which was the first virtual shopping center for DIY and construction materialsin Bra