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This statistic highlights Lowe’s Company’s Revenue by Segment, split between Product, Service, and Other segments, reported on a quarterly basis from Q1 2017 onwards.
Lowe’s Company operates in home improvement. It offers a line of products and services also facilities after the sale. In the year 2020, it further increased to $89.58 billion but a slight decline in 2021, revenue decreased to $71.9 billion by 19.75%
In Q3 2020, it earned revenue of $22.30 billion which further increased to $27.570 billion by 23.62% in Q2 2021. In Q3 2021, it earned revenue of $22.919 billion.
Its revenue is segregated into the following three segments:
|Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures in billion, except percentages)
It is one of the major sources of earning in Lowe’s Company. Product revenues primarily relate to net sales from in-store of the company and online merchandise purchases. The company has thousands category of products including kitchen Appliances, Lawn and Garden, Flooring, Building Materials, etc. It generates revenue from two groups of customers. First is professional customers, such as plumbers, contractors, electricians, and property managers. Professional customers contribute the highest revenue in this segment. Second is a group of Direct customers, customers who want appliances or DIY projects, customers can order directly through its official website also receive discounts.
In the year 2020, it earned revenue of $86.03 billion. However, in the year 2021, the revenue of segment product sales decreased to $71.63 billion by 16.73%. In Q3 2020, the segment made revenue of $0.552 billion which further increased by 13.92% in Q2 2021. In Q3 2021, it earned revenue of $0.597 billion and contributed 2.60% to the total revenue of the company.
Service Segment earns by providing different services. These services revenue includes revenue from installation fees, stored-value cards, gift cards, insurance, etc.
In the year 2020, it made total revenue of $1.94 billion. In the year 2021, the service segment’s revenue declined to $1.86 billion by 4.13%. In Q3 2020, the segment made revenue of $0.552 billion which further increased to $0.629 billion by 13.94%. In Q3 2021, the segment earned revenue of $0.597 billion which contributed 2.60% to the total revenue of the company.
Lowe’s Company provides insurance for the products, extended protection plans as per the product, and also earns revenue through the official website these all come under the other segment revenue.
In the year 2020, the segment earned total revenue of $1.60 billion which further decreased to $1.46 billion by 8.75% in the year 2021. In Q3 2020, the segment made revenue of $0.415 billion which further increased to $0.576 billion by 38.79%. However, the revenue of the segment slightly decreased to $0.566 which contributed 2.45% to the total revenue of the company.
About the Company
Lowe’s Company is a public and American retail company, founded on 25 March 1921. The company is headquartered in Mooresville, North California. It deals in home improvement and hardware products and has its stores in North America. Lowe’s acquired Rona in May 2016. It has more than 20 million customers all over the world every year. It operates independently and won 8 consecutive awards for contributing in nature. Lowe’s is the second-largest hardware chain in the US. The company has created an official website, which serves as an online sales channel, also allows customers to choose products, make purchases, and locate its physical stores.
Lowe’s faces stiff competition with Kingfisher, The Home Depot, Best Buy, and Walmart. Lowe’s offers Shop tools, appliances, carpet, lighting, and building carpets. The Company also made a mission and work on that, the mission is “Together, deliver the right improvement products, with the best service and value, across every channel and community”. The Company has a technology team that supports E-commerce, payments, store operations, merchandising, mobility, store operations, supply chain, which forms the backbone of Lowe’s business. The Company also caters to small businesses and individual professional contractors and workmen, who use the Company’s stores to purchase equipment.
Lowe’s company is traded at the NYSE under the ticker symbol LOW.
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