Investor Alert

Sept. 22, 2020, 11:34 a.m. EDT

Lowe's launching pickup lockers at all U.S. stores by March 2021

Lowe's Cos. (NYS:LOW) said Tuesday that it will add self-serve pickup lockers to all U.S. stores, more than 1,700, by March 2021. The lockers will be one more contactless options for shoppers, who have sought out these sorts of benefits during COVID-19. A scannable barcode generated after a purchase is made will allow shoppers to gain access to their items. The lockers will be available in most major metro markets by Thanksgiving, the home improvement retailer said. Stores in Charlotte, Philadelphia, and the New York tri-state area already have lockers in place. "With more than 60 percent of online orders picked up in our stores, this gives our customers one more option and the added convenience and flexibility to control how and when they get that order," said Joe McFarland, Lowe's executive vice president of stores, in a statement. Lowe's stock has gained 34% for the year to date while the S&P 500 index (S&P:SPX) is up 1.6% for the period.

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