Lowe's Issues Statement Regarding Market Rumors

Rhea-AI Summary

Lowe's Companies, Inc. (NYSE: LOW) issued a statement addressing media speculation regarding a potential transaction with HD Supply. The company has confirmed it is not in discussions with HD Supply and has no plans for any such transaction. Lowe's emphasized its practice of not commenting on rumors but deemed it necessary to clarify its position on this specific matter. The press release also includes a disclaimer about forward-looking statements and potential risks impacting future financial results.

MOORESVILLE, N.C., Nov. 9, 2020 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today issued the following statement in response to media reports:

While it is the Company's practice to not comment on rumors or speculation, we believe it is important to note that Lowe's is not in discussions with HD Supply and we have no plans to pursue a transaction with them.

The Company does not intend to make further statements regarding this matter.

Disclosure Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "guidance", and similar expressions are forward-looking statements.  Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives, business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services, share repurchases, Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results.  Such statements involve risks and uncertainties and we can give no assurance that they will prove to be correct.  Actual results may differ materially from those expressed or implied in such statements.

A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, changes in commodity prices, changes or threatened changes in tariffs, outbreak of public health crises, such as the COVID-19 pandemic, availability and cost of goods from suppliers, changes in our management and key personnel, and other factors that can negatively affect our customers. 

Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law. 

About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE^® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. With fiscal year 2019 sales of $72.1 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

LOW-IR

Contacts:	Shareholder / Analyst Inquiries:	Media Inquiries:
	Kate Pearlman	Jackie Pardini Hartzell
	704-775-3856	704-758-4317
	kate.pearlman@lowes.com	jaclyn.pardini@lowes.com

 

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SOURCE Lowe's Companies, Inc.

FAQ

What did Lowe's announce on November 9, 2020?

On November 9, 2020, Lowe's issued a statement confirming that it is not in discussions with HD Supply and has no plans for a transaction with them.

How does Lowe's address rumors in its press release?

Lowe's typically does not comment on rumors or speculation but felt it necessary to clarify its position regarding HD Supply.

What is the stock symbol for Lowe's Companies?

The stock symbol for Lowe's Companies is LOW.

Are there any future plans for a transaction with HD Supply?

Lowe's has stated that it has no plans to pursue a transaction with HD Supply.