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BRIEF-Lowe's on conf call- Q2 comp growth constrained due to disruption from changes to store staffing model
August 23, 2017 / 2:27 PM / 4 months ago

BRIEF-Lowe's on conf call- Q2 comp growth constrained due to disruption from changes to store staffing model

Aug 23 (Reuters) - Lowe’s Companies Inc

* In presentation - Q2 average ticket rose 3.5 percent to $71.40, customer transactions rose 3.1 percent

* In presentation - appliances, lawn & garden, lumber and rough plumbing and electrical products performed above average in Q2

* Fashion fixtures, flooring, kitchens, millwork, paint, seasonal & outdoor living categories performed below average in Q2

* Key drivers of home improvement spending are real disposable personal income, home prices, and housing turnover

* Outlook for the home improvement industry remains positive

* Rising home prices should continue to encourage homeowners to engage in discretionary projects in addition to ongoing maintenance and repair spending

* On conf call- Q2 comp growth was constrained due to disruption from changes to store staffing model, which became more apparent with increased traffic

* On conf call- drove 43 percent comp growth on lowes.com in Q2

* On conf call- offering free parcel shipping exclusively for Mylowe’s members

* Comp growth improved sequentially through Q2 but was constrained as a result of the disruption caused by changes to our store leadership model earlier in the year

* COO- focused on adding incremental labor to weekends and high-traffic times during the week, effort is to continue to retain seasonal labor from our spring hires Further company coverage:

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