))
Lowe's Q2 2024: Pro Growth Offsets DIY Challenges
Manage episode 435466164 series 3594504
Innehåll tillhandahållet av Giro. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Giro eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
Check out post!
Welcome to Giro's Podcast. Today, we're discussing "Lowe's Q2 2024: Pro Strength Amid DIY Weakness," analyzing Lowe's recent financial results.
Lowe's reported total sales of $23.6 billion for Q2 2024, with comparable sales down 5.1% year-over-year. Despite this overall decline, the company showed resilience in key areas. The Pro segment saw mid-single-digit growth, while online sales increased by 2.9%.
The DIY segment continues to face challenges, particularly in big-ticket discretionary projects. This weakness, which began in Q3 2023, has persisted. Lowe's higher concentration in DIY sales, about 75% of total sales, amplifies the impact on overall performance.
In contrast, the Pro business demonstrated strength, delivering mid-single-digit positive comparable sales in Q2. This success can be attributed to Lowe's Pro-focused initiatives, such as enhanced product selection and improved service models.
Online sales growth, while modest at 2.9%, outperformed the overall sales trend. This indicates that Lowe's digital transformation efforts are resonating with customers.
Looking ahead, Lowe's has updated its full-year 2024 guidance, expecting sales in the range of $82.7 billion to $83.2 billion, with comparable sales down 3.5% to 4%.
For more detailed information and analysis, visit our blog. This is Giro's Podcast, signing off.
18 episoder
Dela
