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BRIEF-Lowe's on conf call- Expect some benefit from hurricanes as into Q4 and 2018
November 21, 2017 / 3:42 PM / in 19 days

BRIEF-Lowe's on conf call- Expect some benefit from hurricanes as into Q4 and 2018

Nov 21 (Reuters) - Lowe’s Companies Inc

* In presentation- Q3 average ticket rose 5.8 percent to $72.63, customer transactions increased 0.7 pct‍​

* In presentation- Q3 transactions over $500 up 8.2 percent, between $50 and $500 up 3.8 percent

* In presentation- Q3 comp sales of appliances, lumber and buildng materials, plumbing were above average

* In presentation- Q3 comp sales of flooring, lawn & garden products, paint, fashion fixtures below average

* In presentation- key drivers of home improvement spending are real disposable personal income, home prices, and housing turnover.

* Outlook for home improvement industry remains positive, supported by job gains and income growth, strong consumer balance sheets

* Rising home prices should continue to encourage homeowners to engage in discretionary projects along with maintenance, repair spending

* On conf call- Q3 lumber building materials had double-digit comp sales, driven by pro demand, hurricane prep and cleanup, inflation

* On conf call- Q3 online comparable sales growth increased 33 percent

* Coo- drove increased traffic in-store and online, capitalizing on supportive macroeconomic backdrop and customers’ desire to invest in homes

* Coo- “given harvey was more a water event and irma more wind event, expect magnitude of benefit and recovery period for houston will surpass florida”

* Coo- continue to build pro awareness with targeted marketing, pro exclusive offers

* Consolidating freight shipments for import and domestic freight, reducing number of trucks arriving at distribution centers and stores

* Lowe’s - expect incremental hurricane-related sales in Q4, but continue to optimize associate hours to capitalize on strong traffic generated by marketing

* Lowe’s cfo- confident in our ability to drive traffic in Q4, expect some benefit from the hurricanes as we move into Q4 and into 2018 Further company coverage: ( Bangalore.newsroom@thomsonreuters.com )

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