Niblock talks pro offerings

After a strong quarter that brought 25% earnings growth to its coffers, Lowe's executives sat down for a chat to discuss the moving pieces that defined its third fiscal quarter.

Chairman, president and CEO Robert Niblock talked shop, especially that of the pro customer.

"We've been working to improve our product and service offering for the Pro customer and differentiating ourselves to better customer experiences that make us the project authority," he said.

This includes focusing on the company's omnichannel experience, but that's just a start, according to Niblock. Enhancing home-center exclusives and an expansion of the project specialist interiors program, as well as a strong outside sales force that meets Pro customers at their homes or places of business, also factored into the equation.

"To clarify, this transformation is about much more than growing our e-commerce business. Our efforts are centered around supporting customers at every step of the home improvement journey and building greater affinity for the Lowe's brand."

Niblock also highlighted a positive comps performance, with a 2.5% increase in comp transactions and a 2% increase in average ticket. The U.S. business garnered 5% comps, and positive comps occurred in 12 of 13 product categories.

"The execution of our strategic priorities alongside a favorable macroeconomic backdrop make this an exciting time for Lowe's," he added. "In fact, the forecast for key drivers of the home improvement industry remain conducive for growth at least through 2017. Steady job and income gains coupled with persistent home price appreciation and strengthening home buying should keep home improvement growth buoyant."