Lowes Companies - LOW STOCK NEWS

Lowe's has launched its third annual SpringFest event, running from March 30 to April 26, featuring significant discounts on gardening products and more. According to a recent survey, over half of homeowners plan to enhance their gardens this spring. The event aims to assist these homeowners with expert guidance and offers like 5 for $10 on mulch and $99 on selected tools. Shoppers can also participate in a $150,000 SpringFest sweepstakes. Alongside, Lowe's will host free workshops to engage families, enhancing their customer experience while promoting outdoor gardening.

Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of $1.05 per share, set to be paid on May 10, 2023. Shareholders of record by April 26, 2023 will receive this dividend. The company reported over $97 billion in total sales for fiscal 2022, with approximately $92 billion generated in the U.S. Lowe's serves around 17 million customer transactions weekly and operates over 1,700 home improvement stores nationwide, employing nearly 300,000 associates.

Lowe's announces the return of its product sourcing event, "Into the Blue," inviting entrepreneurs and businesses to apply until March 20, 2023. The event aims to discover innovative products for Lowe's stores, following last year's success with 270 suppliers and over 170 new vendors onboarded. Lowe's will invest up to $5 million in purchase orders for selected participants, who will showcase their products at the live event on June 13. With $97 billion in total sales for fiscal year 2022, Lowe's seeks to expand its vendor network and enhance customer offerings. More details can be found at Lowes.com/Suppliers.

The Lowe's Foundation is committing $50 million over five years to train 50,000 individuals for careers in skilled trades. This initiative, focusing on community and technical colleges, aims to address the significant labor shortage in the U.S., where 85% of contractors report difficulty finding skilled workers. Grants will be available for two years, with applications open until April 10, 2023. The program seeks to enhance diversity in the trades workforce and will accept applications in two cohorts. The first cohort targets technical colleges, while the second will focus on community-based organizations.

Lowe's has announced a national partnership with Hubbell Incorporated, enhancing its offerings by becoming the main retailer for several top professional electrical box brands, including Bell, RACO, TayMac, and Wiegmann. This partnership aims to provide professionals with quality electrical solutions, underlining Lowe's commitment to building a strong product portfolio tailored for professionals. With fiscal year 2022 sales exceeding $97 billion, Lowe's operates over 1,700 stores and serves approximately 17 million customers weekly. The collaboration aims to reinforce Lowe's position as a leader in the home improvement sector.

Lowe's Companies, Inc. reported a net earnings of $957 million with a diluted EPS of $1.58 for Q4 2022, down from $1.78 in Q4 2021. Adjusted diluted EPS rose by 28% to $2.28. Total sales reached $22.4 billion, up from $21.3 billion year-over-year. However, U.S. comparable sales decreased by 0.7%. The company awarded $220 million in bonuses to associates and repurchased approximately 10 million shares for $2 billion. For fiscal 2023, Lowe's anticipates total sales between $88 and $90 billion, with similar comparable sales expected. The diluted EPS guidance is set at $13.60 to $14.00.

Lowe's Companies, Inc. (NYSE: LOW) will host its Fourth Quarter 2022 Earnings Conference Call on March 1, 2023, at 9 a.m. Eastern time. Investors can access the live webcast through the Investor Relations website. Supplementary materials will be available 15 minutes prior to the call. A replay of the call can be accessed from noon EST on March 1 through February 29, 2024. Lowe's serves approximately 18 million customers weekly, generating over $96 billion in fiscal year 2021 sales, with a substantial portion derived from its U.S. operations.

Lowe's has announced a partnership with Klein Tools to offer a comprehensive range of their products in Lowe's stores and on Lowes.com starting in the second half of 2023. This collaboration will provide the widest selection of Klein Tools in the home improvement retail channel, enhancing Lowe's offerings in hand tools and electrical testing. Klein Tools, a leading brand among electrical and HVAC professionals, will help drive customer traffic and credibility. With fiscal sales of over $96 billion in 2021, Lowe's aims to bolster its Pro brand and innovate its product lineup.

Lowe's Companies, Inc. (NYSE: LOW) has finalized the sale of its Canadian retail operations to Sycamore Partners, a private equity firm. The transaction marks a strategic shift for Lowe's, allowing it to concentrate on enhancing its U.S. home improvement business. CEO Marvin Ellison indicated that this focused approach aims to simplify operations and bolster profitability while delivering shareholder value. The company previously reported over $96 billion in sales for fiscal year 2021, predominantly from U.S. operations, signaling its significant market presence.