Lowe's Says 2025 Sales Growth Likely as it Lays Out Financial Targets

Core Insights - Lowe's held its annual investor day, outlining plans for 2025 and beyond, focusing on returning to revenue growth [1][2] - The company anticipates a decline in sales for 2024 due to inflation and a sluggish housing market [1][4] - Lowe's aims to increase market share among professional contractors and expects an improved housing market to positively impact sales [1][3] Financial Projections - For fiscal 2024, Lowe's projects revenue between $83 billion and$83.5 billion, a decrease from $86.38 billion in fiscal 2023, with comparable store sales expected to decline by 3$82 billion to $87 billion depending on market conditions [5][6] Market Trends and Strategies - The retailer plans to enhance its offerings with a revamped rewards program and expanded online product selection to attract both DIY customers and professional contractors [3][7] - Over the next three to five years, factors such as lower mortgage rates and increased consumer confidence are expected to drive sales growth [7] - The company acknowledges the impact of macroeconomic factors on consumer spending, particularly in the "big ticket" categories [8][9]