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Lowe's Companies Inc

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Wide-Moat Lowe's' Focus on Retail Fundamentals Should Ensure Its Competitive Strength Endures

Business Strategy and Outlook

Lowe's is the second-largest home improvement retailer globally, set to capture around $84 billion in sales in fiscal 2024. With continued focus on retail fundamentals (merchandising, operational efficiency, supply chain improvements, omnichannel shopping experience, and customer engagement), Lowe's has been able to better leverage costs while maintaining its low-cost position. The firm retains some of the cost savings and passes the rest on to its customers through everyday low prices, creating a flywheel effect. Intangible asset and scale-based cost advantage support our wide moat rating.

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