March 25, 2017 3:34 AM ET

Specialty Retail

Company Overview of Lowe's Companies, Inc.

Company Overview

Lowe’s Companies, Inc. operates as a home improvement retailer. It offers products for home maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, lawn and garden, seasonal living, paint, flooring, millwork, kitchens, outdoor power equipment, and home fashions. It also offers installation services through independent contractors in various product categories; extended protection plans; and in-warranty and out-of-warranty repair services. The company sells its national brand-name merchandise and private branded ...

1000 Lowe’s Boulevard

Mooresville, NC 28117

United States

Founded in 1946

290,000 Employees

Phone:

704-758-1000

Fax:

704-757-0576

Key Executives for Lowe's Companies, Inc.

Chairman, Chief Executive Officer and President
Age: 53
Total Annual Compensation: $1.3M
Chief Operating Officer
Age: 53
Total Annual Compensation: $790.0K
Compensation as of Fiscal Year 2015.

Lowe's Companies, Inc. Key Developments

Lowe's Companies, Inc. Presents at Bank of America Merrill Lynch 2017 Consumer and Retail Tech Conference, Mar-15-2017 02:40 PM

Lowe's Companies, Inc. Presents at Bank of America Merrill Lynch 2017 Consumer and Retail Tech Conference, Mar-15-2017 02:40 PM. Venue: Lotte New York Palace Hotel, New York, New York, United States. Speakers: Marshall A. Croom, Chief Financial Officer, Robert Alan Niblock, Chairman, Chief Executive Officer and President.

Lowe's Introduces Next-Generation VR Experience, Holoroom How To, Provides On-Demand DIY Clinics For Home Improvement Learning

Lowe's introduced Holoroom How To, an on-demand virtual reality skills clinic and the latest iteration of Lowe's Innovation Labs'Holoroom experience, their immersive design and visualization tool. Debuting at select store locations in Boston and Canada, the simulated experience explores the relationship between virtual reality technology and engagement and retention in learning. Lowe's research shows that not all customers have the confidence or skills needed to confidently embark on a do-it-yourself (DIY) project. The Holoroom How To experience provides a more effective training tool so customers can learn DIY on their own terms. When users put on the virtual reality headset and hold the controller in each hand, they will be immersed in a DIY project - such as tiling a shower and given step-by-step instructions to complete the task. From mixing the mortar to laying the pattern, the simulation walks the user through each step of the process. Haptic feedback, such as feeling the vibration of a drill through the controller, adds to the life-like experience, without the waste or mess of testing a DIY project in the real world. Initial testing of the technology has not only proven an increase in recall, but also that training through VR using Holoroom How To boosts customer confidence and enhances motivation to take on DIY projects. Over the course of several months, Lowe's will evaluate customer response to this experience, gauging how this technology impacts customer learning and confidence. From this pilot, Lowe's will learn how innovations like Holoroom How To will enable instantaneous learning moments and massively scalable training opportunities that empower both customers and employees around the world.

Lowe's Companies, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended of February 03, 2017; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal Year Ending February 2, 2018

Lowe's Companies, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended of February 03, 2017. For the quarter, the company reported net sales of $15,784 million compared to $13,236 million a year ago. Operating income was $1,269 million compared to $439 million a year ago. Pre-tax earnings were $1,110 million compared to $295 million a year ago. Net earnings were $663 million compared to $11 million a year ago. Basic and diluted earnings per share were $0.74 compared to $0.01 a year ago. Adjusted diluted earnings per share were $0.86 compared to $0.59 a year ago. For the full year, the company reported net sales of $65,017 million compared to $59,074 million a year ago. Operating income was $5,846 million compared to $4,971 million a year ago. Pre-tax earnings were $5,201 million compared to $4,419 million a year ago. Net earnings were $3,093 million compared to $2,546 million a year ago. Diluted earnings per share were $3.47 compared to $2.73 a year ago. Net cash provided by operating activities was $5,617 million compared to $4,784 million a year ago. Capital expenditures were $1,167 million compared to $1,197 million a year ago. Adjusted diluted earnings per share were $3.99 compared to $3.29 a year ago. RONA contributing 3.8%, the 53rd week adding 1.6% and new stores. The company provided earnings guidance for the fiscal year of 2017. For the period, the company’s total sales are expected to increase approximately 5%. Comparable sales are expected to increase approximately 3.5%. However, total sales growth will be reduced by roughly 1.5% related to the comparison of 52 weeks in 2017 versus 53 weeks in 2016. Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase approximately 120 basis points. The effective income tax rate is expected to be approximately 37.8%. Diluted earnings per share of approximately $4.64 are expected for the fiscal year ending February 2, 2018. The company is forecasting cash flows from operations to be approximately $5.9 billion and capital expenditures of approximately $1.4 billion. For the first quarter of 2018, the company expects total sales by approximately $500 million. The estimated negative impact to the first quarter EBIT is approximately 60 basis points. This results in an estimated free cash flow of approximately $4.5 billion for 2017.

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