Lowe’s Sales Jump 30% in Q3

Lowe’s (NYSE:LOW) business is still surging. On Wednesday, the home improvement retailer announced sales and profit results for the fiscal third quarter that ran through late October. And while revenue growth slowed compared to the prior quarter, Lowe’s continued to gain ground in a booming market for home furnishings.

Sales rose 30% in the core U.S. market, according to its quarterly filing, compared to a 35% spike in the second quarter. That result was enough to keep Lowe’s ahead of rival Home Depot (NYSE:HD) for a third straight quarter this year. The industry leader reported 25% sales gains for Q3 on Tuesday.

A man and woman paint a room together.

Image source: Getty Images.

Lowe’s also closed the profitability gap between the two businesses by notching gains on both gross and operating profit margins. Yet its 10% operating profit still trails Home Depot’s 14.5% level.

Lowe’s predicted a weaker earnings result in the fourth

Read More

TJX, Lowe’s, Boeing, Target, Tesla & more

CEO: Carol MeyrowitzCompany value:  $33.309 billionCarol Meyrowitz joined TJX in 1983, eventually becoming president in 2005. She joined its board of directors the following year. TJX operates more than 2,900 discount retail stores, including TJ Maxx, Marshalls and Home Goods.

David McGew | Getty ImagesInset: Essdras M Suarez | The Boston Globe | Getty Images

Check out the companies making headlines in midday trading. 

Target — Shares of the big box retailer popped more than 2% after reporting blowout third-quarter earnings. Target reported adjusted earnings of $2.79 per share on revenue of $22.63 billion. Wall Street expected earnings of $1.60 per share on revenue of $20.93 billion, according to Refinitiv. Target’s curbside pickup service grew more than 500% and its home delivery service Shipt was up nearly 280%.

Lowe’s — The home improvement company sank more than 8% after it reported earnings and guidance that fell short of analyst expectations

Read More

Lowe’s gives hourly workers more bonuses amid COVID

Lowe’s Home Improvement employees are getting another round of bonuses amid the COVID-19 pandemic.

All full-time hourly workers will get $300 and part-time and seasonal employees will receive $150 on Oct. 16, Lowe’s Companies said Wednesday in a news release. The Mooresville-based company gave similar bonuses in March, May, July and August.

The bonuses are for “continued perseverance and commitment to our customers” during the novel coronavirus crisis, CEO Marvin Ellison said.

This $100 million in bonuses raises Lowe’s total commitment to workers and communities since the start of the health pandemic in March to $775 million, according to the company.

More than $675 million of that has included pay increases and bonuses, profit-sharing bonuses and telemedicine services to all workers and families, even those not enrolled in the company medical plans.

Lowe’s Home Improvement employees are getting another round of bonuses amid the COVID-19 pandemic. Lowe’s Companies

Lowe’s also

Read More

Lowe’s to have early curbside trick-or-treating while Krispy Kreme to have free donuts on holiday


3 “Strong Buy” Healthcare Stocks With Major Catalysts Approaching

It can happen in a New York minute. We are talking about the massive gains certain healthcare stocks are able to notch in what feels like a split second. Unlike names from other areas of the market, earnings results don’t paint the full picture. Rather, other factors like clinical trial data or regulatory decisions can be more useful in determining if a particular company is on the path to life-sustaining revenues. Therefore, any positive update can be the catalyst that sends shares blasting off towards outer space.These plays, however, aren’t without their risk. A disappointing outcome could also be the spark that ignites the flame, only launching shares in the opposite direction. This is what makes compelling healthcare stocks so difficult to spot, but the analysts can help.Using TipRanks’ database, we found three healthcare stocks getting love from the Street

Read More

Lowe’s plans new distribution center in Kyle – Business – Austin American-Statesman

Home improvement chain Lowe’s has leased 120,000 square feet for a distribution center in the same Kyle business park where Amazon recently announced plans for a sorting facility.

The Lowe’s facility is in Kyle Crossing Business Park, adjacent to where Amazon plans to open a sorting facility this year. Lowe’s becomes the fourth major employer to locate in part of Plum Creek, a 2,200-acre master-planned community in Kyle.

It’s another win for Kyle, the Austin suburb that has been working to add jobs and diversify its tax base. City leaders have targeted distribution facilities, given the city’s location on Interstate 35 between Austin and San Antonio. The 40-acre Kyle Crossing Business Park is about 20 miles south of downtown Austin.

“The city of Kyle has long been well positioned to become a logistics hub, but we needed facilities on the ground to compete,” Mayor Travis Mitchell said. “Kyle Crossing has

Read More

Lowe’s Up 30% in 3 Months on Solid Home Improvement Trends

The pandemic induced stay-at-home practice is encouraging home renovation and maintenance activities. This certainly is turning out to be an upside for certain home improvement market players, including Lowe’s Companies, Inc. LOW. Moreover, the company’s robust digital offerings and merchandise strategies are yielding, keeping investors interested in the stock.

Lowe’s currently has a Zacks Rank #3 (Hold). The stock has surged nearly 30% in the past three months compared with the industry’s rise of 19.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That said, let’s take a look into some of the aspects that are acting as the aces in Lowe’s stack.

Home Improvements Market Looks Bright

With majority time being spent indoors due to the pandemic scenario, there is a rising focus on making homes an enjoyable and comfortable space. Home DIY projects for remodeling, decorating and maintenance of furniture

Read More