Lowe's Companies Inc. - LOW STOCK NEWS

Instacart and Lowe's have partnered to pilot same-day delivery of over 20,000 home improvement items, including appliances and building supplies, from Lowe's stores to customers' doors within one hour. Initially available in Boston and Charlotte, this collaboration addresses the increasing demand for online delivery in the home improvement sector, which saw over a 50% growth in 2021 compared to 2020. Lowe's aims to enhance customer experience and meet same-day delivery needs through this innovative solution.

Lowe's Companies reported strong financial results for the fourth quarter ended January 28, 2022, with net earnings of $1.2 billion and diluted EPS of $1.78, up from $978 million and $1.32 in Q4 2020. Total sales increased to $21.3 billion, a 5.0% rise year-over-year. Comparable sales for the U.S. home improvement business grew 5.1%, while Pro customer sales surged 23%. The company raised its 2022 sales outlook to $97 billion to $99 billion and plans to repurchase approximately $12 billion in shares.

Lowe's Companies, Inc. (NYSE: LOW) will conduct its Fourth Quarter 2021 Earnings Conference Call on February 23, 2022, at 9 a.m. Eastern time. Investors can access the live webcast and supplemental materials via the Investor Relations website. A replay of the call will be available from noon EST on February 23, 2022, through February 22, 2023. Lowe's serves approximately 20 million customers weekly and reported nearly $90 billion in sales for fiscal year 2020.

On February 11, 2022, Rebuilding Together and Lowe's partnered for the 27th annual Kickoff to Rebuild event in Los Angeles, providing essential home repairs to 16 families, including seniors and veterans. The project involved significant renovations like roof replacements and kitchen upgrades, following CDC guidelines. Lowe's has collaborated with Rebuilding Together since 2007, contributing over $5 million and engaging 5,000 volunteers in previous events. This initiative aims to revitalize neighborhoods and support homeowners in need, particularly those in low-income areas around the University of Southern California.

Lowe's has introduced its first modern style exclusive brand, Origin21, aimed at providing affordable and trendy home décor for millennials. This collection features a mix of items such as throw pillows, rugs, and patio furniture, all inspired by various styles and designed for modern living. Origin21 is part of Lowe's House of Style campaign, which focuses on delivering unexpected style finds. Products are currently available at Lowe's stores and online. The brand pays homage to 1921, the year of Lowe's founding, and aims to complete home improvement projects at exceptional value.

Lowe's has launched the MVPs Pro Rewards and Partnership Program to enhance its relationship with home improvement professionals. The program, available in select regions and nationwide from March 7, includes benefits such as e-gift cards for eligible purchases, access to business resources, exclusive offers, and opportunities to win prizes like Ford F-Series trucks. Insights from Lowe's State of the Pro report indicate nearly 90% of pros value robust loyalty programs. Lowe's aims to deepen partnerships with pros, acknowledging their success correlates with the company's success.

Lowe's (NYSE: LOW) and Petco (Nasdaq: WOOF) have launched a pilot store-in-store program at Lowe's Alamo Ranch, Texas, set to open in February 2022. This collaboration aims to combine home improvement and pet care products, enhancing customer convenience. The initiative plans to expand to 14 additional locations across Texas, North Carolina, and South Carolina by March 2022. Customers can access a curated selection of Petco's nutrition, supplies, and services alongside Lowe's products, aiming to create a unique shopping experience for pet owners.

Lowe's Companies, Inc. (NYSE: LOW) hosted its 2022 Financial Outlook webcast on December 15, 2021, detailing its Total Home Strategy aimed at increasing market share and enhancing productivity. The company expects total sales for 2022 to range from $94 billion to $97 billion, with a comparable sales forecast of a decline of 3% to flat. Notably, Lowe's has authorized a new $13 billion share repurchase program, boosting total repurchase authorization to approximately $20 billion. The outlook for diluted earnings per share is projected between $12.25 and $13.00.

Lowe's is donating $1 million to aid immediate relief efforts following devastating tornadoes in Kentucky and the Central U.S. The donation supports disaster relief partners like the American Red Cross, providing essential services such as emergency shelter and supplies. Lowe's associates have already engaged in local relief activities, including distributing water and boarding up buildings in Mayfield, Kentucky. Additionally, Lowe's will deploy a Tool Rental Disaster Response Trailer to assist residents with equipment rentals. The company has committed over $4 million to disaster relief in 2021.