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Lowe's Companies Inc LOW Stock Quote

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NYSE:LOW

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We Now See a Steeper Housing Market Downturn in 2023 but Our Long-Term Outlook Is Unchanged

Analyst Note

| Brian Bernard, CFA, CPA |

After analyzing recent United States housing market data and industry commentary, we've made downward revisions to our near-term outlook for new residential construction, home prices, and repair and remodel spending.

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Business Description

Lowe's is the second-largest home improvement retailer in the world, operating 1,969 stores and servicing around 212 dealer-owned stores throughout the United States and Canada. The sale of the Canadian business is set to close at the beginning of 2023. The firm’s stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a low-double-digit share of the domestic home improvement market, based on U.S. Census data and management’s estimates for market size.

Contact
1000 Lowes Boulevard
Mooresville, NC, 28117
T +1 704 758-1000
Industry Home Improvement Retail
Most Recent Earnings Oct 31, 2022
Fiscal Year End Jan 27, 2023
Employees 340,000

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