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Dec 13, 2024

Lowe’s projects sales growth in 2025

Home improvement retailer Lowe’s outlined its financial targets for 2025 and beyond at its annual investor day on Wednesday. The company expects sales growth in fiscal 2025, following a challenging 2024 marked by reduced discretionary spending and a sluggish housing market.

 

Lowe’s projects fiscal 2024 revenue between $83 billion and $83.5 billion, down from $86.38 billion in 2023, with a comparable store sales decline of 3% to 3.5%. For 2025, it anticipates revenues ranging from $82 billion to $87 billion, depending on housing market recovery and economic factors.

 

To bolster growth, Lowe’s plans to expand its market share among professional contractors and enhance its offerings for DIY customers through new products, a revamped rewards program, and expanded online inventory. Long-term growth is expected from improving consumer confidence, remote work trends, and increasing Millennial homeownership.

 

Lowe’s stock remains steady, up over 20% this year.

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