Lowe's, Petco to Harness the Power of Home and Pets with New Store-in-Store Concept

Rhea-AI Summary

Lowe's (NYSE: LOW) and Petco (Nasdaq: WOOF) have launched a pilot store-in-store program at Lowe's Alamo Ranch, Texas, set to open in February 2022. This collaboration aims to combine home improvement and pet care products, enhancing customer convenience. The initiative plans to expand to 14 additional locations across Texas, North Carolina, and South Carolina by March 2022. Customers can access a curated selection of Petco's nutrition, supplies, and services alongside Lowe's products, aiming to create a unique shopping experience for pet owners.

Positive

• Introduction of a store-in-store program enhances customer convenience by combining home improvement and pet care under one roof.
• Plans to expand to 14 additional locations reflect confidence in the partnership and potential for increased sales.

Negative

• None.

MOORESVILLE, N.C., Jan. 27, 2022 /PRNewswire/ -- Lowe's (NYSE: LOW) and Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced a pilot store-in-store program that brings trusted products, services and expertise – for both home and pets – into one, convenient stop at select Lowe's locations. The first Lowe's + Petco store-in-store concept is expected to open at Lowe's Alamo Ranch, Texas location in early February, with plans to expand to 14 additional Lowe's locations in Texas, North Carolina, and South Carolina by the end of March 2022. 

Over the past two years, Americans have found more comfort, security and emotional connection through their homes and pets than ever before. More than 11 million new pets entered U.S. homes since the start of the pandemic*; and a new survey by Lowe's shows that 67% of respondents have found their greatest comfort in their pets while nearly half found that comfort in their homes.** While Lowe's stores nationwide have had a longstanding open-door policy to pets, Lowe's + Petco locations will provide a unique customer experience where pet parents can support their pet's health and wellness through a curated assortment of Petco's high-quality pet nutrition, supplies and services, and improve the home they share in one shopping trip.

"For many of our customers, their pets and their homes top the list of things that matter most, especially after two years spent mostly together within the same four walls," said Bill Boltz, Lowe's executive vice president of merchandising. "This partnership enhances the total home solution we offer them by bringing home improvement and pet care products, services and expertise together under one roof."

"Our pets' place in our hearts and homes has never been more front-and-center, and our responsibility to provide them with a safe, healthy and stimulating home environment is an essential part of Petco's Whole Health philosophy," said Nick Konat, Petco's chief merchandising officer. "Bringing Petco's pet care expertise, high-quality products, and veterinary and grooming services to Lowe's helps make it easier than ever to create healthy, happy homes for pet parents and the pets they love."

In addition to Lowe's existing "pets welcome" atmosphere and selection of pet-friendly products, including STAINMASTER PetProtect® carpet, dog beds, dog doors and cleaning supplies, Lowe's + Petco locations will offer a curated assortment of Petco's high-quality pet nutrition, and health and wellness supplies and services, including Petco's beloved owned brands: WholeHearted, EveryYay, Youly, Leaps & Bounds and So Phresh, as well as a variety of popular national brands. Products will be available to purchase in store or on Lowes.com to be picked up curbside, in contactless pickup lockers or at the Customer Service desk at Lowe's pilot locations at no additional cost. Lowe's + Petco locations are also expected to offer a selection of Petco's pet services, including Vetco vaccination clinics, microchipping, prescription pest prevention, and mobile grooming at select times and locations. To better serve those looking for expertise in both the home and pet space, pilot locations will staff knowledgeable Petco partners (employees) during peak hours to offer pet-focused guidance alongside Lowe's associates' advice on home improvement projects.  

Share how you and your pet are enjoying shopping together at Lowe's on social using #DogsOfLowes and tagging @LowesHomeImprovement. For more information on the Lowe's + Petco store-in-store pilot program, visit Lowes.com/Petco.

*Source: Packaged Facts with adjustments from Petco internal estimates.

**Source: TRUE Global Intelligence, on behalf of Lowe's, fielded an online survey of 1,000 U.S. dog and/or owners aged 18 and older between Dec. 28-30, 2021.

About Lowe's 
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 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.
Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. Since our founding in 1965, we've been striving to set new standards in pet care, delivering comprehensive wellness solutions through our products and services, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 Petco locations across the U.S., Mexico and Puerto Rico, including a growing network of more than 150 in-store veterinary hospitals, and offer a complete online resource for pet health and wellness 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 more than 6.5 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 undertakes any duty to update publicly any forward-looking statement that it may respectively 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.

Media Contacts: 

Amy Allison 
Lowe's Companies, Inc. 
amy.allison@lowes.com

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

 

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SOURCE Lowe's Companies, Inc.

FAQ

What is the Lowe's and Petco store-in-store program about?

The Lowe's and Petco store-in-store program combines home improvement and pet care products in selected Lowe's locations, starting with Alamo Ranch, Texas.

When will the first Lowe's + Petco store open?

The first Lowe's + Petco store is expected to open in early February 2022 at Lowe's Alamo Ranch, Texas.

How many locations will feature the Lowe's + Petco partnership?

The partnership plans to expand to 14 additional Lowe's locations in Texas, North Carolina, and South Carolina by the end of March 2022.

What products and services will be offered at the Lowe's + Petco locations?

The stores will offer a curated assortment of Petco's high-quality pet nutrition, supplies, and services alongside Lowe's home improvement products.