Lowe’s Companies, Inc. (moo – Free Report) has always gone to great lengths to make the customer experience seamless. Recently, this home improvement retailer in conjunction with Petco Health and Wellness Company, Inc. (FRAME – Free Report) unveiled a store-to-store pilot program to bring home and pet products, services and expertise under one roof in its select locations.
This first store-in-store concept – Lowe’s + Petco – is set to open in Alamo Ranch, Texas in early February. Management intends to introduce 14 more sites in Texas, North Carolina and South Carolina by the end of March.
We note that Lowe’s + Petco stores will provide a curated assortment of the latter’s high quality pet nutrition and health and wellness services. Supplies will include Petco-owned brands like WholeHearted, EveryYay, Youly, Leaps & Bounds and So Phresh in addition to several well-known national brands. Products can be picked up in-store or on Lowes.com via curbside pickup, contactless pickup lockers, or at the Customer Service Desk in LOW’s pilot locations. Customers can also take advantage of the retailer’s pet-friendly products as well as STAINMASTER PetProtect mats, dog beds, dog doors and cleaning products.
Amidst the pandemic, people have been indulging in pet adoption for quite some time, which has led to an increasing demand for pet-related products. This unique new store-in-store concept is eager to serve the needs of pet owners well, providing them with healthy pet food and services. Petco’s pet care expertise, valuable products, and veterinary and grooming services at Lowe’s can help make homes healthy and happy for pets and their lovers.
Bill Boltz, Lowe’s Executive Vice President of Merchandising, said, “This partnership enhances the total home solution we provide to them by bringing home improvement and home care products, services and expertise under one roof. pets.
Lowe’s appears well positioned for growth thanks to its technological advancements, merchandise category and strength in its Pro business. LOW regularly benefits from strong execution of its strategies, including the Total Home strategy. The strategy is focused on increasing its productivity and enriching the integrated omnichannel shopping experience. It is likely to capture a higher market share in Lowe’s DIY and Pro categories.
Lowe’s is focused on improving its omnichannel retail capabilities across in-store operations, website and supply chain to better serve its customers’ demand to shop, when and where they want.
Management launched Lowe’s One Roof Media Network, with the aim of boosting digital advertising. Business is an important driver for Lowe’s. Management is continuously strengthening professional-focused brands and had previously revamped the professional services professional website LowesForPros.com.
LOW is also on track to expand the Pro power tool accessory program, including the launches of Spyder and DEWALT.
All of the aforementioned moves have helped this currently No. 3 (Hold) ranked stock from Zacks rise 22.7% in the past year compared to its industry’s 12.1% rally.
2 selections not to be missed
Some higher ranked stocks are Zumiez (ZUMZ – free report) and Tapestry (TRP – free report).
Zumiez, a global lifestyle retailer, currently boasts a Zacks #1 ranking (Strong Buy). ZUMZ has a last four quarter earnings surprise of 2,560.4% on average. you can see see the full list of today’s Zacks #1 Rank stocks here.
Zacks consensus estimate for Zumiez sales for fiscal year 2022 suggests growth of 0.4% over the prior year.
Tapestry, the leading accessories designer, currently carries a Zacks Rank #2 (Buy). TPR has a four-quarter earnings surprise of 29%, on average.
Zacks consensus estimate for Tapestry’s fiscal 2022 sales and earnings per share (EPS) suggests growth of 14.8% and 18.2%, respectively, from corresponding period levels of the previous year. TPR has an expected EPS growth rate of 12.3% over three to five years.