May 24, 2016 5:22 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

270,000 Employees

Phone:

704-758-1000

Fax:

704-757-0576

Key Executives for Lowe's Companies, Inc.

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 52
Total Annual Compensation: $1.3M
Chief Financial Officer
Age: 50
Total Annual Compensation: $748.0K
Chief Operating Officer
Age: 52
Total Annual Compensation: $790.0K
Chief Customer Officer
Age: 53
Total Annual Compensation: $790.0K
Compensation as of Fiscal Year 2015.

Lowe's Companies, Inc. Key Developments

Lowe's Companies, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 29, 2016; Provides Earnings Guidance for the Fiscal Year Ending February 3, 2017; Expects to Add Approximately 45 Home Improvement and Hardware Stores

Lowe's Companies, Inc. announced unaudited consolidated earnings results for the first quarter ended April 29, 2016. For the quarter, the company reported net earnings of $884 million, a 31.4% increase over the same period a year ago. Diluted earnings per share increased 40.0% to $0.98 from $0.70 in the first quarter of 2015. Sales for the first quarter increased 7.8% to $15.2 billion from $14.1 billion in the first quarter of 2015, and comparable sales for the quarter increased 7.3%. Comparable sales for the U.S. home improvement business increased 7.5%. Pre-tax earnings was $1,430 million compared to $1,098 million a year ago. Net cash provided by operating activities was $3,220 million compared to $2,478 million a year ago. Capital expenditures was $208,000 compared to $232 million a year ago. Excluding one-time gain of $0.11 per share related the company's pending RONA acquisition, adjusted net earnings were $0.87 per share. For the fiscal year ending February 3, 2017, total sales are expected to increase approximately 6%, including the 53rd week; the 53rd week is expected to increase total sales by approximately 1.5%, Comparable sales are expected to increase approximately 4%. Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 80 to 90 basis points. The effective income tax rate is expected to be approximately 38.1% and diluted earnings per share of approximately $4.11 are expected for year. The company forecasts cash flows from operations to be approximately $5.4 billion. Capital expenditure for fiscal 2017 is approximately $1.5 billion. This results in estimated free cash flow of $3.9 billion for fiscal 2017. The company expects to add approximately 45 home improvement and hardware stores in the fiscal year 2017.

Lowe's Companies, Inc. Receives Investment Canada Approval and Competition Bureau Clearance for its Pending Acquisition of Rona

Lowe's Companies, Inc. announced that it has been granted approval under the Investment Canada Act and clearance from the Competition Bureau with respect to its pending acquisition of RONA inc. The company expects to close on May 20.

Woolworths Yet To Determine Price For Its JV Stake In DIY Cain Masters

Woolworths Limited (ASX:WOW) is yet to agree on a price to buy out joint venture partner Lowe's Companies, Inc. (NYSE:LOW) stake in Hydrox Holdings Pty Ltd.

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