Welcome to our dedicated page for Lowes Companies news (Ticker: LOW), a resource for investors and traders seeking the latest updates and insights on Lowes 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 (NYSE: LOW) announces its holiday season offerings, featuring exclusive deals and savings for customers and MyLowe's Rewards members. The company is offering up to 35% off select major appliances and up to $500 off select LG appliances during Black Friday. MyLowe's Rewards members get early access to Black Friday doorbusters on Lowes.com, with deals continuing throughout December. The first 25 members visiting stores on Black Friday will receive a holiday 'bucket of gifts' valued up to $150. The company is providing convenient shopping options including Same Day delivery and Buy Online, Pick Up In Store services. Stores will be closed on Thanksgiving and Christmas Day.
Lowe's Companies, Inc. (NYSE: LOW) has announced its 2024 Vendor Partners of the Year. The winners are:
- Pella® (Building Products Vendor Partner of the Year)
- Schluter Systems (Home Décor Vendor Partner of the Year)
- Klein Tools (Hardlines Vendor Partner of the Year and Building Products Innovation Partner of the Year)
Additionally, Henkel was named Lowe's Sustainability Partner of the Year for its commitment to reducing emissions and investing in renewable energy. The company also recognized innovation partners and divisional winners across its three merchandising divisions: building products, hardlines, and home décor.
Bill Boltz, Lowe's executive vice president of merchandising, praised these partners for their commitment to customer needs, innovation, and value. Lowe's, a FORTUNE® 50 home improvement company, operates over 1,700 stores and serves approximately 16 million customer transactions weekly in the United States.
Lowe's has pledged $2 million to support relief efforts in response to Hurricane Helene's multi-state impact. The donation will assist nonprofit partners and first responders in addressing critical needs and supporting long-term recovery. Lowe's is hosting relief events in over 25 communities to distribute cleanup supplies and working with first responders to provide essential products.
The company has deployed more than 150 Emergency Response Team members to support hard-hit areas in Georgia, Florida, and North Carolina. Lowe's is also providing assistance to its associates, including deploying shower and laundry trailers, and expediting financial aid through the Lowe's Employee Relief Fund. Customers can support relief efforts by rounding up their transactions at Lowe's stores through Nov. 3.
Lowe's announces its first-ever MyLowe's Rewards Week, running from October 10-16, 2024. This member-only event offers up to 40% off hundreds of items across various categories. Highlights include:
- Up to 40% off select tools, tool storage, ladders, and bathroom products
- Up to 30% off select décor lighting and holiday items
- $50 off all Whirlpool laundry pairs
Members spending $50+ in a single transaction earn $5 in MyLowe's Money. The event showcases the program's ability to deliver outstanding deals and new earning opportunities. MyLowe's Rewards members enjoy ongoing benefits like points on purchases, free shipping, DIY-U workshops, and weekly instant savings.
Lowe's has renewed its partnership with the NFL for the 2024-25 season, marking the sixth consecutive year of collaboration. The home improvement retailer is launching a new marketing campaign titled 'All the Ways We Help', targeting millennial homeowners. The campaign features NFL stars, including new addition C.J. Stroud, alongside Lowe's associates, showcasing the company's support for DIY projects.
The campaign highlights Lowe's in-store expertise, mobile app, and improved delivery options. It includes national TV spots, digital ads, and in-store promotions. Lowe's is also offering NFL-licensed golf carts and official NFL paint colors to enhance fans' game-day experiences. The Lowe's Home Team continues its community initiatives, recently assisting with home repairs in Houston following Hurricane Beryl.
Lowe's Companies (NYSE: LOW) has announced a quarterly cash dividend of $1.15 per share. The dividend will be payable on November 6, 2024, to shareholders of record as of October 23, 2024. This declaration by the board of directors demonstrates Lowe's commitment to returning value to its shareholders. The consistent dividend payout signals financial stability and confidence in the company's future performance. For investors, this represents a steady income stream and potential attractiveness for income-focused portfolios.
Lowe's Companies (NYSE: LOW) has announced that its chairman and CEO, Marvin R. Ellison, will participate in a fireside chat at the Goldman Sachs 31st Annual Global Retailing Conference. The event is scheduled for Thursday, September 5, 2024, at 9:35 a.m. ET. Investors and interested parties can access the audio webcast of the fireside chat through Lowe's investor relations website (ir.lowes.com) under the "Events & Presentations" section.
The webcast will be archived and available for replay at the same location approximately 24 hours after the event concludes. This participation in the conference provides an opportunity for Lowe's to engage with investors and share insights about the company's strategies and performance in the retail sector.
Lowe's Companies, Inc. (NYSE: LOW) reported second quarter 2024 results with net earnings of $2.4 billion and diluted EPS of $4.17. Adjusted diluted EPS, excluding a $43 million pre-tax gain from the Canadian retail business sale, was $4.10. Total sales decreased to $23.6 billion from $25.0 billion in the prior-year quarter, with comparable sales declining 5.1%. The company faced challenges in DIY bigger ticket discretionary spending and unfavorable weather impacting seasonal sales. However, Lowe's saw positive comparable sales in Pro and online segments. The company repurchased 4.4 million shares for $1.0 billion and paid $629 million in dividends. Due to lower-than-expected DIY sales and a pressured macroeconomic environment, Lowe's has updated its full year 2024 outlook.
Lowe's Companies (NYSE: LOW) has announced its Second Quarter 2024 Earnings Conference Call, scheduled for Tuesday, Aug. 20, at 9 a.m. Eastern time. Investors and analysts can access the webcast through the Quarterly Earnings section of Lowe's Investor Relations website, ir.lowes.com. Supplemental materials will be available 15 minutes before the call begins. The company will provide a webcast replay accessible from noon EST on Aug. 20, 2024, through Aug. 19, 2025, in the Events & Presentations section of their Investor Relations website.
Valspar, a leading paint company, has announced Encore 8002-45G as its 2025 Color of the Year. This atmospheric blue hue is described as versatile and timeless, suitable for both interior and exterior projects. Sue Kim, director of color marketing at Valspar, highlights Encore's ability to blend Old World luxury with futuristic design elements.
The color is available in various Valspar paint formulas, including interior, exterior, cabinet, furniture, metal, and concrete paints. Valspar suggests pairing Encore with complementary shades like Lavender Escape, Sprig of Sage, Gosling, and Graceful Gray. The company also offers free color consultations and paint chip delivery to assist DIYers in their projects.
FAQ
What is the current stock price of Lowes Companies (LOW)?
What is the market cap of Lowes Companies (LOW)?
What is Lowe's Companies, Inc.'s core business?
Where is Lowe's headquartered?
How many stores does Lowe's operate?
What is the Lowe's Foundation?
What recent technological innovations has Lowe's introduced?
What percentage of Lowe's sales comes from DIY customers?
How much did Lowe's repurchase in shares recently?
What is Lowe's Total Home strategy?
How can customers benefit from MyLowe's Rewards?
How does Lowe's support the communities it serves?
