
Please try another search
By Christiana Sciaudone
Investing.com - Lowe's rose 6% as it ramps up to grab market share from rivals, like Home Depot (NYSE:HD).
"The best days at Lowe’s (NYSE:LOW) are still in front of us,” said Chief Executive Officer Marvin Ellison at an investor conference, following a two-year turnaround that came just in time to support the boom in home improvements Americans are investing in since they're stuck at home all day, every day.
Lowe's reiterated guidance of 22% sales growth for 2020, according to CNBC. Earnings of $8.62 to $8.72 per share are expected for the fiscal year.
The company plans to expand its online-only assortment from kitchen appliances to home decor, and speed up and lower the cost of fulfilling orders to increase its share of the $900 billion U.S. home improvement market.
Lowe’s Chief Financial Officer Dave Denton said it expects to see sales of $423 per square foot by the end of this year and hopes to increase that to $460.
The company’s board has also authorized a $15 billion common stock repurchase program.
Shares of the company are up more than 140% since hitting a low for the year in March. The stock hit a record in October amid an explosion in demand for home improvements.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.