Lowe's and Petco Deepen Pet Parent Affinity with Expansion of Store-in-Store Concept to Nearly 300 Locations

Rhea-AI Summary

Lowe's and Petco are expanding their pilot program to offer pet and home products and services in one-stop shops. The program will grow from 15 Lowe's stores to nearly 300 locations by year-end, focusing on rural communities. This expansion aims to provide convenience to shoppers and meet the needs of the growing number of pet owners in the US.

Positive

• Lowe's and Petco are expanding their pilot program to nearly 300 locations by year-end, offering convenience to shoppers in rural communities.
• The program aims to meet the needs of the growing number of pet owners in the US.

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• None.

Retailers to offer rural customers one-stop shop for pet and home products and services

MOORESVILLE, N.C., July 20, 2023 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) and Petco Health + Wellness Company Inc. (Nasdaq: WOOF) today announced the expansion of their pilot program that brings trusted products, services and expertise – for both home and pets – into a one-stop shop, growing from 15 Lowe's stores to nearly 300 locations by year-end. Focusing on rural communities across the country, this expansion offers a new convenience to shoppers, providing access to pet supplies and veterinary care along with everything DIY and Pro customers need for their home improvement projects.

With 90.5 million families – or 70% of U.S. households – now owning a pet*, this expansion demonstrates a commitment to offering a growing number of pet owners the resources and peace of mind that come with knowing that care for their pets is just around the corner.

"Our initial pilot program with Petco resonated with our existing, loyal shoppers and introduced new customers to Lowe's," said Bill Boltz, Lowe's executive vice president of merchandising. "Partnering with top brands that our customers know and trust, like Petco, allows Lowe's to continue elevating and localizing our curated assortment to ensure we have the right products in the right markets. By expanding our store-in-store footprint, we're offering more tailored products and services to meet the unique needs of our customers in rural and remote areas, streamlining the shopping experience."

Lowe's Petco store-in-stores will carry a range of products from nutrition and supplies to flea and tick solutions. Products include Petco private brands: EveryYay, Leaps & Bounds, So Phresh and WholeHearted; as well as national brands, including: Advantage II Cat, BARK Toys, Blue Buffalo, ChuckIt, Frontline, K9 Advantix, Purina One and Seresto. Petco's Vetco Clinics, offering vaccinations, microchipping and preventative medicine, will also be available once a month at 75 Lowe's stores and will be staffed by a licensed veterinarian.    

"The success and expansion of our Lowe's + Petco store-in-store concept is proof of the important role pets play in our lives, and pet parents' deep desire to give them the best possible life in return," said Amy College, Petco chief merchandising officer. "As Americans continue to improve their homes for the entire family – including their beloved pets – we're delighted to bring Petco's pet care expertise, combined with our health and wellness merchandise and veterinary services, to even more pet parents as we scale up to hundreds of Lowe's locations across the country."

The expansion of the Petco store-in-store locations is part of Lowe's broader rural strategy to tailor its assortment in up to 300 stores to include everything needed for farm and home. Expanded rural store assortments will include feed, pet and outdoor products such as troughs, an expanded trailer selection, farm implements, livestock fencing, utility vehicles, and specialized hardware – plus new Carhartt^® apparel in select stores and the expansion of Wrangler^® apparel in all rural stores.

To learn more about Lowe's expanded partnership with Petco, check out Lowes.com/Petco. For the list of Lowe's Petco store-in-store locations, visit Petco at Lowe's Store Locations (lowes.com). For more information about Lowe's expanded farm and ranch offerings for rural customers, please view the press release.

*American Pet Products Association (APPA)

About Lowe's  
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the U.S., where Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

About Petco, The Health + Wellness Co.
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We've consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app. In tandem with Petco Love (formerly the Petco Foundation), an independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for nearly 7 million animals.  

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact. Although Lowe's and Petco believe that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these expectations will prove to be correct. Forward-looking statements are subject to many risks and uncertainties, including the risk factors that Lowe's and Petco identify in their respective Securities and Exchange Commission filings, and actual results may differ materially from the results discussed in such forward-looking statements. Neither Lowe's nor Petco undertake any duty to update publicly any forward-looking statement that it may make, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority. 

Contact:
Larry Costello
Lowe's Companies, Inc.
Larry.Costello@lowes.com 

Ventura Olvera
Petco Health + Wellness Company Inc.
ventura.olvera@petco.com

 

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SOURCE Lowe's Companies, Inc.

FAQ

What is Lowe's and Petco's pilot program?

Lowe's and Petco are expanding their pilot program to offer pet and home products and services in one-stop shops.

How many locations will the program expand to?

The program will grow from 15 Lowe's stores to nearly 300 locations by year-end.

Who is the program targeting?

The expansion focuses on rural communities across the country.

What is the goal of the expansion?

The expansion aims to provide convenience to shoppers and meet the needs of the growing number of pet owners in the US.