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Last $69.17 USD
Change Today +0.72 / 1.05%
Volume 6.8M
LOW On Other Exchanges
New York
As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

lowe's cos inc (LOW) Key Developments

Lowe's Companies Seeks Acquisitions

Lowe's Companies Inc. (NYSE:LOW) is looking for acquisition opportunities. Lowe's Companies is to sell its securities and will use the net proceeds from the sale of the securities offered by this prospectus and the applicable prospectus supplement for general corporate purposes, which may include, but are not limited to, repurchases of shares of our common stock, capital expenditures, financing of future acquisitions or strategic investments, working capital needs and redemption and repayment of outstanding indebtedness.

Lowe's Companies, Inc. Declares Quarterly Cash Dividend, Payable November 4, 2015

The Board of Directors for Lowe's Companies Inc. has declared a quarterly cash dividend of $0.28 per share, payable November 4, 2015, to shareholders of record as of October 21, 2015.

Lowe's Companies, Inc. Appoints Jeff Boyd as Vice President of Real Estate, Construction and Store Design

Lowe's Canada announced the appointment of Jeff Boyd as Vice President, Real Estate, Construction and Store Design effective immediately. Boyd joined Lowe's in October 2007 and has played an instrumental role in the development of the company's Real Estate and Construction function in Canada over the past seven and a half years. In this newly created position, Boyd will continue to oversee Lowe's Canada's real estate, development, construction and facilities management functions. He will also assume responsibility for market research, store design and procurement. Prior to Lowe's, Boyd worked in land development, consulting and engineering for 11 years.

Lowe's Companies Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 31, 2015; Provides Earnings Guidance for Fiscal Year Ending January 29, 2016; Plans to Add 15 to 20 Home Improvement and Hardware Stores

Lowe's Companies Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 31, 2015. For the quarter, the company reported net sales of USD 17,348 million compared to USD 16,599 million a year ago. Pre-tax earnings were USD 1,839 million compared to USD 1,693 million a year ago. Net earnings were USD 1,126 million compared to USD 1,039 million a year ago. Basic and diluted earnings per share were USD 1.20 compared to USD 1.04 a year ago. Comparable sales increased 4.3%. For the six months, the company reported net sales of USD 31,478 million compared to USD 30,001 million a year ago. Pre-tax earnings were USD 2,937 million compared to USD 2,636 million a year ago. Net earnings were USD 1,799 million or USD 1.90 per basic and diluted share compared to USD 1,663 million or USD 1.64 per diluted share a year ago. Net cash provided by operating activities was USD 4,164 million compared to USD 3,923 million a year ago. Capital expenditures were USD 570 million compared to USD 384 million a year ago. Comparable sales increased 4.7%. Free cash flow was nearly USD 3.6 billion, which is up 2% to last year. For the fiscal year ending January 29, 2016, the company total sales are expected to increase approximately 4.5% to 5%, comparable sales are expected to increase 4% to 4.5%, earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase approximately 80 to 100 basis points. The effective income tax rate is expected to be approximately 38.1%. Diluted earnings per share of approximately USD 3.29 are expected for the fiscal year ending January 29, 2016. The company is forecasting cash flow from operations to be approximately USD 5 billion. Capital forecast for 2015 is now approximately USD 1.3 billion, which results in an estimated free cash flow USD 3.7 billion for 2015. The company’s guidance assumes approximately USD 3.8 billion share repurchases for 2015. The company expects to add 15 to 20 home improvement and hardware stores for the fiscal year ending January 29, 2016.

Lowe's Cos. Inc. to Open Two Downsized Stores in Manhattan

Lowe's Cos. Inc. announced that the company is beginning an experiment in going miniature when it opens the first of two stores in Manhattan. The first store is in Chelsea at 635 Sixth Ave. at West 19th Street in New York. A second, located on the Upper West Side, will open in September at 2008 Broadway at West 68th Street. At 30,000 square feet, the stores are about one-quarter the size of a typical Lowe's suburban big-box location. They are the first Lowe's stores to open in Manhattan, where competitor Home Depot operates three stores that are three times the size of the new Lowe's.


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