Sure, we have all heard of Skelly over at Home Depot (HD), but do not count home improvement giant Lowe’s (LOW) out of the market yet. It has its own winner in this space: the Party Skeleton. And the story behind it is one of the biggest surprises of a season jammed full with them. The Party Skeleton’s story is making the rounds, and Lowe’s shareholders are plenty happy about it. Lowe’s stock is up nearly 1.5% in Tuesday morning’s trading.
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The Party Skeleton–brainchild of Amanual Coleman of Charlotte, North Carolina–is only three feet tall, which puts it a bit behind Skelly in terms of sheer spectacle. But what the Party Skeleton lacks in size, he more than makes up for with sheer elan. With glowing eyes, ribs, and even feet, this little guy is catching a lot of attention at Lowe’s, reports note. It is actually one of the biggest sellers this season.
Coleman is actually part of the company’s merchandising facility operation, and was given a chance to pitch ideas at one point. He had better than 70 designs in his trunk, and eventually, got the Party Skeleton made thanks to its natural as a “…whimsical, but still in the Halloween spirit” design. Considering how well it has done so far, it might be a good play for other businesses to see what ideas their employees have lurking around to advance product design.
Already Planning for the Next One
We know that Lowe’s has already been bringing out Christmas decorations despite it only being October, but that seems to be par for the course these days. And Lowe’s is stepping things up to make Christmas shopping a little easier. With shoppers planning to look for value over extravagance, Lowe’s is readying new rewards programs as well as an early start to the shopping season, with deals starting October 30.
Lowe’s has two different workshops planned for kids, including the Holiday Countdown on November 15, and the Santa’s Sleigh event on December 20. Photo opportunities, free gift offers for MyLowe’s Rewards members and more should draw in plenty of interested potential shoppers, giving Lowe’s a little extra advantage over its growing number of competitors.
Is Lowe’s a Buy, Sell or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on LOW stock based on 16 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After an 11% loss in its share price over the past year, the average LOW price target of $285.22 per share implies 15.93% upside potential.
