Great-How Lowe's Is Competing With Home Depot
The American home is undergoing a makeover during the Covid-19 pandemic, and home improvement giant Lowe’s is reaping the benefits from it.
Since the start of the pandemic, Lowe’s has five straight quarters of double-digit revenue growth on a quarter-over-quarter basis. The company’s bottom line has also gotten a boost. On Aug. 18, the company reported a second-quarter profit of $3.02 billion, or $4.25 per share. That’s up 6.7% on a year-over-year basis from $2.83 billion.
“More so than anytime in our life the home is being reimagined,” Lowe’s CEO Marvin Ellison said September 15, 2020. “The home is multi-purpose more so than ever, it’s a work-from-home space, it’s a homeschooling space and its a predominant space for entertainment and recreation.”
But with consumer discretionary spending shifting toward entertainment and travel as Covid restrictions ease, will Lowe’s and rival Home Depot be able to maintain their momentum? And what happens to the do-it-yourself home improvement market once the pandemic subsides?
Watch the video to find out what’s next for Lowe’s.
Chapters:
00:00 — Intro
01:58 — History
05:20 — The home improvement market
10:04 — Focus on home professionals
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The DIY Boom And The Rise Of Lowe’s
Pet infestations. The person voicing this video knew they messed the line and they still ended up using that take… Why?
Viva Ace Hardware!!
Nice ad
Lowes Blows. Home Depot has much better customer service.
The narrator is not America-born.
They are So so much better, Home Depot really doesn’t care.
What I like about Lowes is that you can get help. Home Depot does not even acknowledge that you are a customer. You could die on the floor and they wouldn't even notice.
But let us not forget that Lowe's sucks at customer service. I went in to ask about buying the grill outside. I was handed off to 5 different people, who each left me on my own as they found someone else.
The guy who had the key was the 4th guy, and then a Different guy loaded it into my truck. Like seriously? They have radios on their belts!!
Lowe's is a dysfunctional shithole. I'm glad I left.
As a current employee, Lowes is MISERABLE to work at. It's bleeding workers like crazy. Average tenure at the few stores I've been at has been below 2 years. A good chunk of that is horrible decision making from Ellison himself.
Good short term results for share holders, but our ability to service customers when we are so poorly staffed will lead to long term customer abandonment. Corporate doesn't care.
I think it depends on which area you live in. There is only 1 Home Depot in my area but we have 3 Lowe’s. Home Depot doesn’t do military discounts anymore but on Veterans Day so everyone goes to Lowe’s. I live in a very large military town. I go to Lowe’s. I only go to Home Depot if Lowe’s doesn’t have exactly what I need at the moment, which is pretty much never since we have 3 Lowe’s.
their ordering and customer service sucks they say it will arrive this day it wont call customer service they dont care… ill never shop there again
I use KOBALT power tools as a Diesel Mechanic and I love em team BLUE 🔵
Interesting, Good healthy competition is always good for me as end user for personal home etc.
home depot all the way
"pet infestations….." 😂
Is Lowes owned by Walmart?
Lowe's blows
Lowe’s is way better than Home Depot more clean more organized Home Depot is always full of dust products out of place
Lowe’s is the worse store and now that Home Depot has the military program, bye bye Lowe’s.
Anti-American big box stores like Lowe's and Home Depot are violating their employee's constitutional and human rights by forcing them to be injected with these new unsafe ineffective experimental drugs or they will fire them. #MyBodyMyChoice
Lowe's is an older company and use to have a higher store count and sales. It is incorrect to represent Lowes as the underdog
This ad paid by lowes
Did he say "Pet infestation" instead of "pest infestation"!?
Very good job done in this video!
Do not want to hear ADS
Even though I have to drive past an HD to get to Lowes, it's worth it. HD has terrible people running it. I think one of its founders is almost 100 yrs old. He'll be in hell soon.
The one department I buy a lot from these home improvement stores is paint. More than anything else.
The best thing they can do is to hire skilled tradesmen from the union AND handymen, to be the material buyers do that who skilled workers and do it yourselfers go there, you actually can find what you're looking for instead of a refrigerator full of food that you can't make a meal out of. Hire more diverse, I mean physical diversity not just the same ethnicities with some of them homosexuals, because you can feel discomfort the moment you enter if you look different and in tired of trying to focus on what I'm trying to build and every Lowe's the workers stare and watch making it hard to think.
What is in that guys jacket?? Lol
I live in Benton Harbor, Michigan and we have both Lowe's and Home Depot. Now if you were to ask me which one my family shops the most, for trash bags, we go to Home Depot. For most everything else, we're a Lowe's family. Tools, appliances, etc. Just last week I've picked up four packs of lawn bags from LOWE'S!!!
I remember when I was a kid Lowe's Hardware in Boone, NC used to sell Super Nintendo Video games for variable prices behind locked glass cases near the front of the store. My mom and dad don't remember but I do. Yoshi's Cookie was selling for at least $40. .
WOOOW AMAZING!!!🤔
Lowes is the best for sure
Lots pizza overn
No more lowes for me. I refuse to be a check out person banker bager etc
Looking for cyderblocks
Every company exist to make money. That’s a bottom line.
The Lowes number 1822 in Opelousas Louisiana plain old sucks, and should fire its current management!!
Defy tv pursavoiur lows astronomer
Dang she is so nervous
Need to look into store manager in syracuse ny
What about contractors?
I never thought of it before the only ones benefiting from a disaster is hardware stores like them