Lowe’s recently discussed its strategic priorities and near- and long-term financial targets at its 2018 analyst and investor conference.
The conference included the company’s key strategies to engage customers, drive merchandising excellence and deliver a seamless, omnichannel experience while maximizing operational efficiency.
“We have substantially completed a detailed reassessment of our business and are diligently implementing process and technology improvements that are rooted in the fundamentals of retail and designed to position Lowe’s to win in today’s complex retail environment,” said Marvin Ellison, Lowe’s new president and CEO. “These transformational changes will take time but will enable Lowe’s associates to better focus on serving customers and capture significant market opportunities. As we work to position the company for the future, we will remain true to our mission of delivering the right home improvement products, with the best service and value, across every channel and community we serve.”
Lowe’s reiterated its prior sales and earnings guidance for fiscal year 2018, and issued its sales and earnings guidance for fiscal year 2019. For fiscal year 2018, the company said that total sales are expected to increase approximately 4% with comparable sales expected to increase approximately 2.5%. Diluted earnings per share of $4.08 to $4.24 are expected for the fiscal year ending February 1, 2019.
In fiscal year 2019, total sales are expected to increase approximately 2% with comparable sales expected to increase approximately 3%. Diluted earnings per share of $6.00 to $6.10 are expected for the fiscal year ending January 31, 2020.