- Lowe's (LOW +4.7%) management expects home spending to easily outpace GDP in the U.S.
- The company plans to continue adding stores in the U.S., while also delivering comparable sales growth of 3% to 5% over the next three years.
- The optimistic outlook from Lowe's delivered at today's Investor Day event is helping to lift the broad home improvement and homebuilding sectors. Home Depot (HD +3.1%), Lumber Liquidators (LL +1.2%), Beacon Roofing Supply (BECN +1.2%), Boise Cascade (BCC +0.6%) and BMC Stock Holdings (BMCH +1.3%) all trade higher on the day.
- Previously: Lowe's updates guidance ahead of investor conference (Dec. 7)