Lowe's: unveils 'Total Home' growth strategy

(CercleFinance.com) - Lowe's Companies is holding its 2024 conference for analysts and investors today to provide an update on its key growth and productivity initiatives, as well as its short- and long-term financial objectives.


' As we anticipate the expected recovery in the home improvement sector, we are making investments to position the company for long-term growth', assures Marvin R. Ellison, President and CEO of Lowe's.

In particular, Lowe's is building on its 'Total Home' development strategy, which is based on five main initiatives: strengthening penetration among professionals (Pros), accelerating online sales, extending in-home services, creating a loyalty ecosystem and optimizing in-store sales space.

In addition, to support its growth, Lowe's plans to open 10 to 15 stores a year and extend its rural offering to 150 additional stores, for a total of almost 500 adapted sites.

The company expects annual savings of $1 billion through productivity initiatives.

Finally, for 2024, Lowe's is maintaining its forecast of sales of between $83 and $83.5 billion and adjusted earnings per share of $11.80 to $11.90.

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