Lowe's Cos. (LOW), Petco (WOOF) to Harness the Power of Home and Pets with New Store-in-Store Concept

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.

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