Black Friday at Lowe's will be different this year

Lowe's is making big changes to its Black Friday plans.

"We're not going to give it away this year," Lowe's president and CEO Marvin Ellison said on the company's third-quarter earnings call Wednesday. He added the home-improvement retailer last year offered a lot of site-wide promotions that "gave a lot of value to the customers," but "little value to the shareholders and to the company from a profit perspective."

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During Black Friday 2018, Lowe's offered up to 40 percent off select appliances and up to $600 in gift cards via rebate with the purchase of two or more major appliances costing $396 or more. There were also deals for a number of top-rated appliances, tools and decor.

This year, Lowe's is planning Black Friday and Cyber Monday offerings which include select buy-one-get-one-free deals for DeWalt, Cobalt, Bosch and Craftsman, and the opportunity to receive a gift card when buying at least two major appliances.

Lowe's will also leverage its partnership with the NFL by offering the first 300 in-store customers at every U.S. location on Black Friday the opportunity to win two tickets to Super Bowl 54 in Miami.

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On Wednesday, Lowe's reported a third-quarter profit of $1 billion, or an adjusted $1.41 a share, topping Wall Street estimates of $1.35 a share. While companywide revenue of $17.5 billion trailed projections of $17.6 billion, comparable sales rose 2.2 percent overall and 3 percent at the company’s U.S. home-improvement business.

Lowe's shares rallied on the news. They're up 22.8 percent this year while the S&P 500 has gained 24.3 percent.