Lowe's CEO: Response has been great to new home care subscription

Summary

Lowe's CEO Marvin Ellison appears on CNBC's Squawk Box to discuss the company's new HomeCare+ subscription service. He explains that the service provides in-home maintenance for $99 per year, using trained associates to enhance customer loyalty and drive future sales. The initial response has been positive, and the company sees it as a profitable differentiator in the market.

• Lowe's launched HomeCare+, a subscription-based in-home maintenance service.
• The service costs $99 per year and includes two home visits for tasks like filter changes and safety checks.
• Lowe's associates are specially trained for these services, with customized vehicles.
• The goal is to build long-term customer relationships and encourage repeat business.
• Initial pilot programs showed strong customer demand and positive feedback.
• Ellison emphasizes leveraging human capital for unique market differentiation.
• The service is expected to be profitable and drive future growth.
• It addresses customer needs for reliable home maintenance services.