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CLAIM #37872 · Lowe's Companies Inc (LOW) · 2021Q4 earnings call · Feb 23, 2022 · due Dec 31, 2022

And so Pro is going to be a significant part of our growth this year, and we still feel very encouraged by the progress.

Marvin Ellison · CEO

PENDING
graded after results covering Dec 31, 2022 are reported

In context

basis the Pro penetration is? And then more importantly, what do you think it can get to? Marvin Ellison: Yes. Look, I think your first statement is directionally correct on what and where the penetration is. We just know the business continues to be very strong. If you think about 23% comps in the quarter and 54% on a 2-year basis, I mean, we feel great about that business. And I think you noted, we spent quite a bit of time over the last 3-plus years making not only investments in adding products to our assortment, but also our service levels fulfillment. And we're very pleased, as I mentioned in my prepared comments with the launch of our new Pro loyalty program. And as I mentioned as well, we're seeing a 300% increase in Pro sales for Pros engaged in our loyalty and credit program. And so Pro is going to be a significant part of our growth this year, and we still feel very encouraged by the progress. Michael Baker: Okay. And as a follow-up, DIY, you said up on strong gains last year, fair to say up in the low single digits, slightly up something in that range, just what the math suggests? David Denton: That's correct. We saw expansion in growth in both, obviously, the Pro, but importantly, the DIY as well. Operator: Our next question comes from the line of Simeon Gutman with Morgan Stanley. Simeon Gutman: My first question is on EBIT margin. Now that it looks like you could get to 13% in '22. If you look at the model in the out years, and I know you haven't really given anything past this, is the correct way to think about moving past 13%, it's productivity-driven, meaning it's all throughput as sales per foot keeps rising? David Denton: Yes, I think that is correct. Simeon, we'r

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SEC filings for LOW · Claim quote is verbatim from the 2021Q4 earnings call.