Lowe's On Hiring Spree As It Gears Up For Spring Season

By Zacks Investment ResearchStock MarketsJan 24, 2018 08:06PM ET

www.investing.com/analysis/lowes-on-hiring-spree-as-it-gears-up-for-spring-season-200283536

Lowe's On Hiring Spree As It Gears Up For Spring Season

By Zacks Investment Research | Jan 24, 2018 08:06PM ET

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Lowe's Companies Inc. (NYSE:LOW) is warming up for the spring season. The company will be hiring 53,000 seasonal staff to manage traffic over the spring season. Moreover, recruitment this year is up by 8,000 employees compared with the last year.

Generally, spring is the busiest season for Lowe’s and other home improvement retailers, like The Home Depot, Inc. (NYSE:HD) , Builders FirstSource, Inc. (NASDAQ:BLDR) and Beacon Roofing Supply, Inc. (NASDAQ:BECN) , as home renovation activity picks up considerably during this time. Moreover, a rebounding housing market will act as a catalyst this season.

The company had openings for the position of service and support managers, cashiers, customer service associates, stockers and sales specialists. Chief human resources officer, Jennifer Weber said “When employees join Lowe's, they are joining more than a Fortune 40 company. They are joining a supportive network of caring, inspiring team members who are here to serve customers, communities and each other.”

Lowe’s, with 2,370 retail stores across the globe, offers a wide range of products and services for home decoration, maintenance, repair, remodeling and property maintenance. Currently, the company employs more than 290,000 associates.

Stock Performance

In the past six months, the stock has gained 42%, outperforming the industry’s growth of 38%. We believe improving job scenario, housing market recovery, merchandising initiatives and post hurricane construction activities along with efforts to enhance omni-channel capabilities bode well for Lowe’s. The company’s Canadian business has been performing quite well. The buyout of RONA is reinforcing its position in the Canadian market.

Lowe's Companies, Inc. Price and EPS Surprise

Lowe's Companies, Inc. Price and EPS Surprise | Lowe's Companies, Inc. Quote

Further, the Zacks Rank #3 (Hold) company’s Canada entered into a strategic partnership with Solar Brokers Canada to provide solar energy installation services to homeowners under Lowe's Solar banner. Of late, the company has been focusing on maintenance, repair and operations products, evident from its acquisition of Maintenance Supply Headquarters and the earlier buyout of Central Wholesalers.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Lowe's On Hiring Spree As It Gears Up For Spring Season

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