How Lowe's Is Competing With Home Depot
August 31, 2021
268,420
3,276
477
1.40%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
CNBC Television Episodes Around August 31, 2021
See what was published immediately before and after this episode.
13:40Now PlayingHow Lowe's Is Competing With Home Depot
Chapters
YouTube Description
as posted by the channelThe 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:
» Subscribe to CNBC
» Subscribe to CNBC TV
» Subscribe to CNBC Classic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news
Follow CNBC on LinkedIn
Follow CNBC News on Facebook
Follow CNBC News on Twitter
Follow CNBC News on Instagram
Subscribe to CNBC PRO
#CNBC
The DIY Boom And The Rise Of Lowe’s
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.