Welcome to our dedicated page for Lowe's Companies news (Ticker: LOW), a resource for investors and traders seeking the latest updates and insights on Lowe's Companies stock.
Lowe's Companies, Inc. (NYSE: LOW) is a leading American retail company specializing in home improvement, headquartered in Mooresville, North Carolina. With over 1,700 stores across the United States, Lowe's stands as the second-largest home improvement retailer globally. The company caters to both retail do-it-yourself (DIY) enthusiasts and professional contractors, offering a wide range of products for home decorating, maintenance, repair, and remodeling.
In 2023, Lowe's divested its Canadian locations, focusing its operations exclusively within the United States. Approximately 75% of Lowe's sales come from DIY customers, while the remaining 25% is attributed to commercial and professional business clients. Recent financial reports indicate that Lowe's generated $21.4 billion in sales for the first quarter of 2024, reflecting a slight decline compared to the previous year, largely due to decreased DIY discretionary spending.
Lowe's continues to innovate and expand its offerings. The company recently launched MyLowe's Rewards, a loyalty program that provides exclusive perks and savings for DIY customers. Additionally, Lowe's is pioneering the use of advanced technologies such as the Apple Vision Pro, with the Lowe's Style Studio, an immersive 3D kitchen design tool that allows customers to visualize their dream kitchens using spatial computing.
The Lowe's Foundation is a significant part of the company's community engagement strategy. It has committed $50 million over five years to prepare 50,000 individuals for skilled trade careers through grants and training programs. Recent initiatives include the awarding of $3 million in Gable Grants to national nonprofits for innovative skilled trades training.
Lowe's also maintains a strong focus on shareholder value through disciplined capital allocation. In the most recent quarter, the company repurchased approximately 3 million shares and paid dividends totaling $633 million. Despite current economic uncertainties, Lowe's remains committed to executing its Total Home strategy, aiming to provide comprehensive solutions for all customer home improvement needs.
For more information on Lowe's latest updates and programs, visit their website at Lowes.com.
Lowe's has partnered with Samsung to launch a limited-edition collection of refrigerator panels for the Samsung Bespoke 4-Door French Door Refrigerator, designed by artists Alexa Meade, Amber Vittoria, and Domonique Brown. These exclusive panels allow consumers to customize their appliances while showcasing personal style. With a focus on art and customization, the collaboration aims to transform kitchens into unique spaces. Lowe's, known as the No. 1 home appliance retailer, emphasizes quality, innovation, and style in its offerings.
Lowe's is celebrating National First Responders Day by offering eligible first responders a $10 discount on purchases over $75 from Oct. 21 to Oct. 28, 2022. In addition to discounts, Lowe's hosts fire safety demos and community projects to support first responders. Part of the Lowe's Hometowns initiative, the company commits $100 million over five years to enhance community spaces. Projects include renovations for local emergency services. The initiative reflects Lowe's appreciation for first responders who play a vital role in community safety.
Lowe's has launched the first interactive store digital twin in the home improvement retail industry during NVIDIA GTC, powered by NVIDIA's Omniverse. This digital twin enables store associates to access and visualize extensive digital data to enhance store operations and customer experiences. Currently live in two stores, it incorporates AR technology for tasks like restocking and optimizing product placements. In the upcoming weeks, Lowe's plans to release part of its 3D product catalog to Omniverse users, encouraging innovative retail applications.
Lowe's has partnered with Instacart to offer same-day delivery from over 1,700 stores across the U.S., enhancing convenience for customers. The initiative allows delivery of nearly 30,000 items, including home improvement essentials, gifts, and holiday decorations, within an hour. This service aims to simplify shopping experiences during the busy fall season. Lowe's, a leading home improvement retailer with over $96 billion in sales in fiscal year 2021, is expanding its e-commerce offerings to improve customer satisfaction and streamline project preparation.
Lowe's is partnering with Sleep in Heavenly Peace to participate in the Bunks Across America event on September 10, aiming to build over 7,500 bunk beds in one day. More than 30 stores will join volunteers, contributing over $350,000 in products. Since 2012, Lowe's has helped build over 123,000 beds to address childhood bedlessness, aligning with their commitment to community support. The initiative reflects Lowe's ongoing support to provide safe and affordable housing for children and families.
Lowe's Companies, Inc. (NYSE: LOW) announced on September 6, 2022, its agreement to issue $4.75 billion in senior notes. The offering includes $1 billion of 4.400% notes due 2025, $1.25 billion of 5.000% notes due 2033, $1.5 billion of 5.625% notes due 2053, and $1 billion of 5.800% notes due 2062. Proceeds will be used for general corporate purposes. The closing date is anticipated for September 8, 2022, contingent on standard conditions. Major financial institutions, including Barclays and Goldman Sachs, are managing the offering.
Lowe's Companies, Inc. (NYSE: LOW) will have its CEO, Marvin R. Ellison, participate in a fireside chat during the Goldman Sachs 29th Annual Global Retailing Conference. The event is scheduled for 1:00 p.m. EDT on September 8, 2022. Investors can access the audio webcast via Lowe's Investor Relations, where an archived version will be available approximately 24 hours later. In fiscal 2021, Lowe's reported over $96 billion in sales, serving around 19 million customer transactions weekly.
Lowe's Companies, Inc. (NYSE: LOW) announced a quarterly cash dividend of $1.05 per share, payable on Nov. 2, 2022. The record date for shareholders to qualify for this dividend is Oct. 19, 2022. This decision reflects the company's ongoing commitment to returning value to its shareholders amid approximately $96 billion in fiscal year 2021 sales.
Lowe's Companies reported a net earnings of $3.0 billion and diluted EPS of $4.67 for Q2 2022, up from $4.25 in Q2 2021. Total sales dipped slightly to $27.5 billion from $27.6 billion, with U.S. comparable sales increasing 0.2%. DIY sales faced challenges due to a shortened spring, but Pro customer sales rose by 13%. The company expects 2022 total sales between $97 billion and $99 billion, with diluted EPS projected at $13.10 to $13.60. Notably, share repurchases totaled $4 billion during the quarter.
Lowe's Companies (NYSE: LOW) will host its Second Quarter 2022 Earnings Conference Call on August 17, 2022, at 9 a.m. Eastern Time. The call will be accessible via the Lowe's Investor Relations website. A replay will be available from noon EST on the same day until August 16, 2023. Lowe's serves around 19 million customer transactions weekly, with sales exceeding $96 billion in fiscal year 2021.
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