CLAIM #38199 · Lowe's Companies Inc (LOW) · 2024Q3 earnings call · Nov 19, 2024 · due Mar 31, 2025
“So, we do see that pressure sort of continuing as we transition from '24 and into '25.”
Brandon Sink · CFO
In context
“just speak to high-level DIY performance and this kind of ex-hurricane for the quarter. I would say our trends that we saw largely were in line with our expectations. As you mentioned, we continue to see strength in some of the smaller project activity. We called out outdoor projects. When we look at the DIY customer, they remain engaged across key events and continue to look for value. We saw that over Labor Day and the MyLowe's Rewards week. But certainly, continued underlying pressure in big-ticket discretionary, so categories like kitchen and bath, flooring and decor, and really continue to just see that tied to the macro. We look at mortgage rates that continue to remain elevated, consumer sentiment, housing turnover, affordability, continue to create pressure here in the near term. So, we do see that pressure sort of continuing as we transition from '24 and into '25. We are expecting some level of additional engagement and some acceleration as we move from smaller repairs into some of the larger projects, but really the timing of that and into '25. And when that happens is still continues to be uncertain. So that's what we're looking for as we look for an inflection point, but as it relates to the near term more in line with expectations at this point. Marvin Ellison: And Chris, this is Marvin. So, we've been very specific over the last few years on where we placed our capital investments, and we spent a lot on IT infrastructure on digital, and we spend a lot on store improvement. So, if you think about kitchen and bath showrooms, we have a best-in-class presentation in our stores, and we have a best-in-class experience online. When you think about ap”
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SEC filings for LOW ↗ · Claim quote is verbatim from the 2024Q3 earnings call.