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Lowe's (LOW) Digital Division and Pro Business Augur Well
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Lowe's Companies, Inc. (LOW - Free Report) is well-positioned to capitalize on demand for the home-improvement market, backed by investments in technology, merchandise category and strength in Pro business. A strong digital base has been boosting Lowe’s performance for quite sometime now. LOW’s Total Home strategy, including complete solutions for various home-improvement needs, also bodes well.
Let’s delve deeper.
Detailing Strategies
Lowe’s has been investing in its omnichannel platform, including expanding online assortment, boosting user experience and improving fulfillment capabilities. Management is focused on enhancing the omnichannel retailing capabilities in-store operations, website and supply chain to resonate well with customers’ demand to shop, however, whenever and wherever they like.
In addition, Lowe’s is constantly making smart moves to offer customers a seamless shopping experience and is expanding its market delivery strategy. LOW teamed up with Instacart to make same-day delivery available across its more than 1,700 stores nationwide. Customers can order around 30,000 items for delivery and avail the same as fast as in an hour.
This partnership makes Lowe's one of the first retailers on the Instacart App to offer same-day and scheduled delivery for huge items of about 3x3x5 feet and 60 pounds. Consumers can also order small Halloween inflatables, fire pit essentials and small portable grills. They can purchase holiday gifts like smart-home products, hand tools and electronics, and accessories, including pillows, blankets and outdoor string lights from LOW’s local stores. This move is likely to tap higher sales and boost profitability in the festive season.
Pro customers continue to be a significant driver for Lowe's business. To keep augmenting sales from pro customers, management is enhancing Pro-focused brands with Pro offerings across LOW’s stores and online through improved service levels, deeper inventory quantities, intuitive store layout and more Pro national brands.
The Pro segment is expected to continue its momentum with better in-stock inventory levels, an enriched service suite and a new Pro loyalty program. During the fiscal second quarter, pro sales jumped 13% from the year-ago fiscal quarter’s level and 37% on a previous two-year basis. The Pro business contributed around 25% to sales in the reported fiscal quarter.
In a nutshell, Lowe’s, which shares space with Home Depot (HD - Free Report) , Builders FirstSource (BLDR - Free Report) and Fastenal (FAST - Free Report) , is well-poised for growth, given the above-discussed tailwinds.
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Lowe's (LOW) Digital Division and Pro Business Augur Well
Lowe's Companies, Inc. (LOW - Free Report) is well-positioned to capitalize on demand for the home-improvement market, backed by investments in technology, merchandise category and strength in Pro business. A strong digital base has been boosting Lowe’s performance for quite sometime now. LOW’s Total Home strategy, including complete solutions for various home-improvement needs, also bodes well.
Let’s delve deeper.
Detailing Strategies
Lowe’s has been investing in its omnichannel platform, including expanding online assortment, boosting user experience and improving fulfillment capabilities. Management is focused on enhancing the omnichannel retailing capabilities in-store operations, website and supply chain to resonate well with customers’ demand to shop, however, whenever and wherever they like.
In addition, Lowe’s is constantly making smart moves to offer customers a seamless shopping experience and is expanding its market delivery strategy. LOW teamed up with Instacart to make same-day delivery available across its more than 1,700 stores nationwide. Customers can order around 30,000 items for delivery and avail the same as fast as in an hour.
This partnership makes Lowe's one of the first retailers on the Instacart App to offer same-day and scheduled delivery for huge items of about 3x3x5 feet and 60 pounds. Consumers can also order small Halloween inflatables, fire pit essentials and small portable grills. They can purchase holiday gifts like smart-home products, hand tools and electronics, and accessories, including pillows, blankets and outdoor string lights from LOW’s local stores. This move is likely to tap higher sales and boost profitability in the festive season.
Pro customers continue to be a significant driver for Lowe's business. To keep augmenting sales from pro customers, management is enhancing Pro-focused brands with Pro offerings across LOW’s stores and online through improved service levels, deeper inventory quantities, intuitive store layout and more Pro national brands.
The Pro segment is expected to continue its momentum with better in-stock inventory levels, an enriched service suite and a new Pro loyalty program. During the fiscal second quarter, pro sales jumped 13% from the year-ago fiscal quarter’s level and 37% on a previous two-year basis. The Pro business contributed around 25% to sales in the reported fiscal quarter.
In a nutshell, Lowe’s, which shares space with Home Depot (HD - Free Report) , Builders FirstSource (BLDR - Free Report) and Fastenal (FAST - Free Report) , is well-poised for growth, given the above-discussed tailwinds.