OPE and pros lead the charge at Lowe’s
All 14 regions of the Lowe’s empire achieved positive comp-store sales in the third quarter as the company remains “cautiously optimistic about the home improvement landscape.”
Top sellers at Lowe’s in the period that saw 5.1% comp-store sales: outdoor power equipment, with double-digit comps, said Michael Jones, chief customer officer for the Mooresville, North Carolina-based retail giant.
Riding the brands Husqvarna, John Deere and Troybilt, plus the new Cobalt line of battery-powered handheld outdoor power equipment, Lowe’s OPE performance was also aided by a milder summer and concern over the Polar Vortex and the likelihood of a cold, wet winter.
Jones also pointed to above-average comps in millwork, kitchens and appliances, and fashion fixtures.
Lowe’s also believes this is the season to compete heavily on holiday merchandise. “We have repurposed the space used for the outdoor living experience to create a holiday decor experience like no other in home improvement, one which inspires customers to decorate, raise their awareness of the breadth of our holiday decor and our gift offerings, and provide project solutions relevant to the holidays.”
Some gift ideas, he said, include:
• Pilot brand InstaBoost jumpstarter for autos.
• Troybilt Vortex three-state snowblower; and
• Kohler Pure Fresh odor neutralizing toilets and toilet seats.
Comp-store sales to the pro also outpaced the company average for the 13th consecutive quarter. The company’s LowesForPros.com web site, currently in testing phase, is expected to “soft” launch late in the fourth quarter. The site will allow pros to develop requisition lists and to see their purchase history, as well as customized product categories, among other functions.
In August, Lowe’s rolled out Henry Coating brand of roof repair and driveway sealer in California, Nevada and Arizona. Since then “we have measured double-digit comp sales of roof repair and driveway sealer products in the markets where this relevant brand was added,” Jones said.