Lowes’ carpet padding could cost consumers $2.9 billion
Lowes has been in talks with retailers about installing carpet padding in some of its stores, according to a new report.
The padding will cost the retailer more than $2 billion in the first year, according the report.
Lowes is seeking to offset the expense by selling a new range of low- and mid-priced carpet padding.
The company says it’s not currently negotiating with retailers for its products, but would be willing to sell its products if they were.
This isn’t the first time the carpet padding issue has cropped up, as retailers have been seeking to get rid of the product.
In 2014, Walmart purchased carpet padding for its stores and the company later pulled the padding from its stores.
The rug company has since begun selling it as a carpet padding substitute.
A spokesperson for Walmart said the company will “continue to monitor the carpet market and its impact on our suppliers.”