Loews 1Q16 Earnings Call Notes

Lowe’s Companies’s (LOW) CEO Robert Niblock on Q1 2016 Results

Housing remains a bright spot

“Turning to the economic landscape for the balance of year, the outlook for the home improvement industry remains positive. Shifting gains in the job market as well as disposal income growth is expected to outpace growth in the economy; should contribute to solid growth in consumer spending. And housing remains a bright spot — remains first on effort.”

Consumer survey continues to be strong

“Chris this is Robert. As I outlined in my comments have we seen the consumer we look through our consumer segment survey what their intentions are around spending what their intentions are around investing in the home as we are seeing continued improvement in the job market we are seeing continued improvement in wages we are seeing continued improvement in home values this driving continued improvement in their intentions for discretionary spending which I think the best evidence of that is in the 5.1% increase that we saw on top transactions during the quarter and that’s we have seen in our surveys has let us to be believe that the consumer when they risk high — six months out with regarding purchase nothing shows any change in their intentions as we survey them today”

Ricky Damron

Consumers continue to invest in their homes

“And as Robert shared with you, we delivered positive accounts across all regions and product categories, as we continue to capitalize on a favorable macro backdrop and consumers increasing desire to invest in their homes. ”