LOW On Other Exchanges
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Company Description

Contact Info

1000 Lowe’s Boulevard

Mooresville, NC 28117

United States

Phone: 704-758-1000

Fax: 704-757-0576

Lowe's Companies, Inc. and its subsidiaries operate as a home improvement retailer worldwide. As of January 29, 2016, the company operated 1,857 home improvement and hardware stores, representing approximately 202 million square feet of retail selling space. The company comprises 1,805 stores located across 50 U.S. states, including 80 Orchard Supply Hardware stores in California and Oregon, as well as 42 stores in Canada, and 10 stores in Mexico. The company serves homeowners, renters, and professional customers (Pro customers). Retail customers, comprised of individual homeowners and renters, complete a range of projects and vary along the spectrum of do-it-yourself and do-it-for-me. The Pro customer consists of two categories, such as construction trades; and maintenance, repair and operations. Products Product Selection The company offers a line of products for maintenance, repair, remodeling, and decorating. The company offers 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. A typical Lowe’s home improvement store stocks approximately 36,000 items, with various additional items available through its Special Order Sales system, Lowes.com, Lowes.ca, and ATGstores.com. The company offers a selection of national brand-name merchandise complemented by its selection of private brands. National Brand-Name Merchandise The company’s home improvement store carries a selection of national brand-name merchandise, such as Whirlpool appliances and water heaters; GE, LG, and Samsung appliances; Stainmaster carpets; Valspar paints and stains; Pella windows and doors; Sylvania light bulbs; Dewalt power tools; Owens Corning roofing; Johns Manville insulation; James Hardie fiber cement siding; Husqvarna outdoor power equipment; Werner ladders; and various others. In 2015, the company added brand name merchandise, such as HGTV HOME by Sherwin-Williams paints, Kichler lighting, Owens Corning insulation, GAF roofing, and Diamond vanities to its portfolio. Its merchandise selection provides the retail and Pro customer a one-stop shop for various national brand-name merchandise needed to complete home improvement, repair, maintenance, or construction projects. Private Brands The company sells private brands in various of its product categories. Some of its primary private brands include Kobalt tools, allen+roth home décor products, Blue Hawk home improvement products, Project Source basic value products, Portfolio lighting products, Garden Treasures lawn and patio products, Utilitech electrical and utility products, Reliabilt doors and windows, Aquasource faucets, sinks and toilets, Harbor Breeze ceiling fans, Top Choice lumber products, and Iris home automation and management products. Services Installed Sales The company offers installation services through independent contractors in various of its product categories, with appliances, flooring, kitchens, lumber and building materials, and millwork accounting for the majority of installed sales. Its installed sales model, which separates selling and project administration tasks, allows its sales associates to focus on project selling, while project managers ensure that the details related to installing the products are efficiently executed. Extended Protection Plans and Repair Services The company offers extended protection plans in kitchens, appliances, tools and hardware, outdoor power equipment, seasonal living, and rough plumbing. The company’s protection plans provide customers with product protection that enhances or extends coverage previously offered by the manufacturer’s warranty. Its extended protection plans provide in-warranty and out-of-warranty repair services for major appliances, outdoor power equipment, tools, grills, fireplaces, water heaters, and other eligible products through its stores or in the home through its Lowe’s authorized service repair network. The company offers replacement plans for products in majority of these categories when priced below $200, or otherwise specified category specific price points. Its contact center takes customers’ calls, assesses the problems, and facilitates resolutions, making after-sales service easier for its customers. Selling Channels The company sells products in-store, online, on-site, or through its contact centers. During 2015, it re-launched the LowesForPros.com online tool. Intellectual Property The name ‘Lowe’s’ is a registered service mark of one of the company’s wholly-owned subsidiaries. Seasonality The retail business in general is subject to seasonal influences, and the company’s business is, to some extent, seasonal. Historically, the company has realized the highest volume of sales during its second fiscal quarter (May, June, and July) and the lowest volume of sales during its fourth fiscal quarter (November, December, and January). Accordingly, the company’s working capital requirements have historically been greater during its fourth fiscal quarter as the company builds inventory in anticipation of the spring selling season and as the company experiences lower fourth fiscal quarter sales volumes. History Lowe’s Companies, Inc. was founded in 1952. The company was incorporated in North Carolina in 1952.

 

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Valuation LOW Industry Range
Price/Earnings 23.5x
Price/Sales 1.0x
Price/Book 9.2x
Price/Cash Flow 14.8x
TEV/Sales 0.7x
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