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Lowe’s will open mini Petco shops inside some stores

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Lowe’s plans to open Petco stores inside some of their stores in a pilot program. In February, it plans to open its first Texas store.

Petco

Lowe’sWe will shortly test A, a brand new product. PetcoShop in its shops to purchase pet food, cat litter and even visit a veterinarian while you shop for paint or other home supplies.

Two retailers signed a deal to test the store-instore concept. In February the first store-in-store will open in San Antonio. There are 14 other locations in Texas, North Carolina, South Carolina and South Carolina planned by March.

They declined to discuss financial terms or length of deal.

Lowe’s, Petco and Petco were pandemic winners as Americans did more at home and took on DIY projects. However, retailers will face more difficult times in coming months if customers feel squeezed by inflation and decide to spend more of their budgets on travel and night out rather than home projects and pet accessories.

Lowe’s is looking to expand its merchandise offerings to capitalize on the strength of the real estate market. The website, as well as its stores, now offer more home décor. It went public an initiative to sell and install itemsSeniors can age at home with these devices. It began to pilot fitness equipment at around 20 stores, including rowers, treadmills and dumbbells. You can already find pet items, like dog beds or pet-proof carpeting.

Petco sees the curated version as a way for it to be seen by more people and to encourage them to go to its larger stores. Chewy.

Nick Konat is the Chief Merchandising Officer at Petco. He said that he hopes the shop will resonate especially with DIY-inclined, millennials. Many 20- or 30-year-olds were the pioneers during the pandemic. “nesting” trends, as they bought homes or moved into bigger places, adopted cats or dogs — and in some cases, saw pets as a “trial run” before having children, he said.

“They have a very high spending customer, and they take good care of their pet as if it were their family,” he stated. “They’re also taking good care of their properties, many of whom are new owners or renters.”

Petco will have its logo on all shops, as well as merchandise for dogs and cats, which includes some of its exclusive brands, WholeHearted and Youly. If customers live in a Lowe’s pilot area, they can order online or pick up their merchandise at the store. Some shops will offer pet professionals and veterinarians who can visit them for services such as vaccination, microchipping and prescription pest prevention.

While the sizes of each store-in store will vary, the first one will cover approximately 1,000 square feet. It will be at the entrance of Lowe’s retail store.

Konat stated that a Petco employee will also be working in the shops.

Other retailers may have similar agreements. TargetA deal was struck with Ulta BeautyTo open curated shops inside hundreds of its big-box stores — has similar shop-in-shops with Apple and DisneyAt select locations Kohl’sSephora signed an agreement to have its beauty shops in stores. KrogerSome will also be included Bed Bath & BeyondSelect stores have merchandise Macy’sIt is rolling out Toys R Us shops.

Lowe’s, Petco’s share prices have fallen by about 12% since Wednesday’s closing. Lowe’s stock closed on Wednesday at $228.10 while Petco’s was $17.43. Lowe’s stock has risen nearly 31% in the last 12 months. This puts it at $153.68 million. Petco’s share price has fallen by approximately 37% during the past twelve months. It now stands at $5.27 Billion.

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