The home-improvement retailer is luring the contractor crowd, an area historically dominated by Home Depot. The result will be steadier sales—and fatter...
Lowe’s proved, with its earnings this week, that it can hang in there during a rough stretch for the economy—and keep growing on the other side. That makes the stock worth owning, even after the 9% rally it has had since Barron’s recommended it on Jan. 25.
Newsletter Sign-up Lowe’s also maintained its full-year guidance for sales of $88 billion, at the midpoint of the estimated range, and earnings of $13.40 a share. But the decision not to raise that forecast is nothing to worry about, either. Those numbers should have gone up, since the company is growing far faster quarter over quarter than year over year.
Meanwhile, Lowe’s continues to grow its “pro” sales, which rose this past quarter. Pros, or home-improvement contractors, is an area where Lowe’s has been trying to make inroads. Historically dominated by Home Depot , those sales tend to be steadier than for the do-it-yourself, or DIY, customer, which dropped more than 9% this past quarter.
If Lowe’s can continue to grow the pro business as it takes market share from smaller companies, and DIY eventually stabilizes, sales should return to growth and drive earnings even higher.
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