Lowe's launches rewards program for home improvement professionals

Lowe’s Cos. LOW, -0.60% launched the MVPs Pro Rewards and Partnership Program in select areas on Tuesday, with the loyalty program going nationwide on March 7. Created for professionals in the home improvement business, the program offers e-gift cards based on spending, rewards for paint purchases, special resources, and more. Lowe’s has been increasingly focused on its professional business and, in a statement, Tony Hurst, senior vice president of pro, services and international, says this is one more step in a strategy to reach that pro customer. Lowe’s also released a new annual report, the Lowe’s State of the Pro, which provides data from professionals and homeowners. Among the findings from the 2022 edition: 62% of homeowners say there aren’t enough pros to do all the work that’s needed. Lowe’s stock has run up 45.3% over the past year while the S&P 500 index SPX, -0.26% has gained 21.6%.