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 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.
Lowe's Companies, Inc. (NYSE: LOW) has rebranded its retail media network as Lowe's Media Network, introducing a new logo and expanding its portfolio of omnichannel advertising solutions. The network now includes new channels such as email, in-store audio, paid search, and direct mail for install services. This enhancement aims to provide a world-class retail media experience with white glove service for brand advertisers.
The expanded offerings include onsite premium native display, sponsored product ads, omni-channel programmatic activations, offsite advertising placements, and custom insights. Lowe's Media Network has grown rapidly since its 2021 launch, now serving over 300 brands and reaching more than 120 million unique customers. The rebrand strengthens the network's association with the Lowe's brand and reflects the close collaboration between merchandising and marketing strategies.
HGTV Home by Sherwin-Williams has announced 'Naturally Refined' as its 2025 Color Collection of the Year, with Quietude (HGSW6212) named as the 2025 Color of the Year. The collection features 10 unique shades that exude quiet comfort and luxury through softened colors with subtle contrast. To celebrate the launch, HGTV Home by Sherwin-Williams has partnered with Palazzo, an AI-powered home visualization tool, becoming the first paint brand to collaborate with this innovative platform.
The 'Naturally Refined' palette includes creamy neutrals, warm browns and orange, and muted yellows and greens. Quietude, a soft sage green with blue undertones, is designed to create a serene environment and has been chosen for its classic elegance and staying power across various design styles. The collection is available exclusively at Lowe's stores nationwide and on Lowes.com.
STAINMASTER Paint, exclusively available at Lowe's, has announced Truffle as its 2025 Color of the Year. This deep, sophisticated hue aligns with the trend towards luxury interiors and dark designs. Truffle offers versatility, suitable for bold, dramatic designs or as a subtle accent with lighter accessories.
Monica Reese, Lowe's Director of Trend and Style, highlighted Truffle's ability to complement various styles and color palettes. The color was chosen after a thorough analysis of top-performing colors and industry trends. STAINMASTER Performance Interior Paint and Primer boasts features like stain, mold, and mildew protection, excellent scrub resistance, and a lifetime stain-resistant warranty.
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