Lowe’s Companies, Inc. operates as a home improvement retailer. The company offers products for maintenance, repair, remodeling, and home decorating. It provides home improvement products under the categories of kitchens and appliances; lumber and building materials; tools and hardware; fashion fixtures; rough plumbing and electrical; lawn and garden; seasonal living; paint; home fashions; storage and cleaning; flooring; millwork; and outdoor power equipment. The company also offers installation services through independent contractors in various product categories; extended protection plans; and in-warranty and out-of-warranty repair services. It provides national brand-name merchandise and...
1000 Lowe's Boulevard
Mooresville, NC 28117
Founded in 1946
Lowe's Companies Inc. Announces Executive Promotions
Nov 23 15
Lowe's Companies Inc. announced that Marci P. Grebstein has been promoted to chief marketing officer (CMO), effective immediately. Grebstein most recently served as vice president of advertising, leading the U.S. advertising strategy and marketing operations to build loyalty for the brand. She will report to Michael A. Jones, chief customer officer and succeeds Thomas J. (Tom) Lamb who has left the company. Grebstein joined Lowe's earlier this year and has more than 20 years of experience leading brand, marketing, advertising and e-commerce strategies for large retail companies, including Food Lion and Staples. She will be responsible for managing the Lowe's brand by overseeing the integrated marketing and communications strategy to consumers, including digital marketing, content strategy and development, consumer relationship management, advertising and media for the U.S. home improvement business.
Lowe's Companies Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended October 30, 2015; Provides Earnings Guidance for Fiscal 2015; Expects to Add 15 to 20 Home Improvement and Hardware Stores
Nov 18 15
Lowe's Companies Inc. reported unaudited consolidated financial results for the third quarter and nine months ended October 30, 2015. The company reported net earnings of $736 million for the quarter ended October 30, 2015, a 25.8% increase over the same period a year ago. Diluted earnings per share increased 35.6% to $0.80 from $0.59 in the third quarter of 2014. Sales for the third quarter increased 5.0% to $14.4 billion from $13.7 billion in the third quarter of 2014, and comparable sales increased 4.6%. Pre-tax earnings were $1,187,000 against $954,000 for the same period of last year.
For the nine months ended October 30, 2015, net earnings increased 12.8% from the same period a year ago to $2.5 billion, and diluted earnings per share increased 20.5% to $2.70. For the nine month period, sales were $45.8 billion, a 4.9% increase over $43.7 million for the same period a year ago, and comparable sales increased 4.6%. Comparable sales for the U.S. home improvement business increased 5.0% for the third quarter and 4.9% for the nine month period. Pre-tax earnings were $4,124,000 against $3,589,000 for the same period of last year. Net cash provided by operating activities was $4,546,000 against $4,684,000 for the same period of last year. Capital expenditures were $844,000 against $587,000 for the same period of last year.
For fiscal 2015, the company expects total sales to increase 4.5 to 5%; and comparable sales increase 4 to 4.5%. Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 80 to 100 basis points. The effective income tax rate is expected to be approximately 38.1%. Diluted earnings per share of approximately $3.29 are expected for the fiscal year ending January 29, 2016.
The company expects to add 15 to 20 home improvement and hardware stores in 2015.
Lowe's Companies, Inc. Declares Quarterly Cash Dividend, Payable on February 3, 2016
Nov 13 15
The board of directors for Lowe's Companies Inc. has declared a quarterly cash dividend of 28 cents ($0.28) per share, payable on February 3, 2016, to shareholders of record as of January 20, 2016.