Lowe’s announces growth, productivity initiatives at investor day

Lowe’s (LOW) is hosting its 2024 analyst and investor conference to provide an update on its growth and productivity initiatives and near-term and long-term financial targets. The company has developed a framework to harness the new power of generative AI through a standardized development process, designed to enhance the customer experience and unlock productivity. The company is now piloting new solutions to empower frontline associates to better serve customers and improve the in-store shopping experience. In early 2025, the company is relaunching its Pro loyalty program as MyLowe’s Pro Rewards, designed specifically for the small-to-medium Pro. Additionally, Pro customers who shop with their MyLowe’s Pro Rewards Credit Card will save 5% every day on eligible purchases. Lowe’s plans to open 10-15 stores per year over the next several years in fast-growing markets in the U.S. To better serve customers living in rural communities, Lowe’s is planning to extend its rural assortments to 150 more stores, bringing everything needed for farm and home under one roof.