Amid consumers’ growing interests of keeping homes well-maintained, spending on home-improvement products have continued to remain high. Such trends have been favoring the renowned home improvement products retailer,
Lowe’s Companies, Inc. ( LOW Quick Quote LOW - Free Report) . Preparing for the upcoming holiday season, the company announced a range of services and product offerings including tools, decor items and many more, all at highly-attractive prices. Such efforts are likely to help the retailer rake in more revenues, as consumers shop for adding more gleam to their home this festive season. Let’s take a closer look at this latest development. Products to Adorn Homes This Festive Season
Home decor products gain more prominence during the holiday season as consumers deck up their homes in festive traditions. Consumers also purchase more appliances around this time, for their family needs as well as for gifting. According to a survey conducted by Lowe’s for the upcoming holiday season, more than 90% consumers are expected to spend as much, if not more, than last year on holiday gifts. Also, more than 85% are expected to participate in holiday traditions.
In preparation for the upcoming seasonal rush, Lowe’s has come up with a range of special services, expanded inventory and more ways to shop that will heighten consumers’ shopping experience and add more cheer to the festivities. The company expects consumers to begin decorating indoor and outdoor areas early this season. Its stores have already begun offering decoration items. It is currently providing a wide range of artificial trees with many options in terms of size and width. From mid-November, the company’s Garden Centers will offer fresh-cut tree lots. Stores will offer a huge collection of inflatables, holiday classic decor reminiscent, LED lights and themed garlands. It will also provide a huge collection of tools. Lowe’s updated Gift Zone will offer several ideas to DIY and Pro consumers, including top-branded tools, smart home, decor and appliances. It will also offer unique gifting options such as wine chillers, neck massagers and mini bikes. Consumers will be able to avail huge discounts, price matching and also make use of the Lowe's Season of Savings event which is set to begin on Oct 28. The company will offer new deals every week from now through December, till supplies last. The company’s “PROvember” event will cater to specifically meeting the needs of Pro customers and providing them with special offers. The company announced that its stores will remain closed on Thanksgiving Day. Image Source: Zacks Investment Research
Wrapping up, Lowe’s is undertaking prudent efforts to make the most of the holidays. In addition to strengthening products and services, the company is focused on bolstering distribution and omni-channel capabilities. Moreover, the company’s strong and talented employee base has been helping it execute strategic growth efforts.
Shares of this Zacks Rank #2 (Buy) company have surged 14.3% in the past three months compared with the industry’s rise of 10.2%. 3 Picks You Can’t Miss Out On Builders FirstSource, Inc. ( BLDR Quick Quote BLDR - Free Report) , flaunting a Zacks Rank #1 delivered an earnings surprise of 49.7% in the last four quarters, on average. You can see . the complete list of today’s Zacks #1 Rank stocks here The Home Depot, Inc. ( HD Quick Quote HD - Free Report) , carrying a Zacks Rank #2, has a long-term earnings growth rate of 9.7%. Beacon Roofing Supply, Inc. ( BECN Quick Quote BECN - Free Report) , also with a Zacks Rank #2, delivered an earnings surprise of 573.1% in the last four quarters, on average.