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 (NYSE: LOW) and Chervon announced the exclusive launch of the FLEX line of cordless power tools set to debut on April 12, 2021. This innovative range features the FLEX 24V platform, boasting industry-leading lithium-ion battery technology that offers 20% more power and 50% faster charging than competitors. Notable products include a powerful drill delivering 1,400 inch-pounds of torque and a reciprocating saw capable of cutting up to 50 4x4s on a single charge. The launch event, 'FLEX Face Off,' will showcase these tools against top industry brands.
On March 10, 2021, Lowe's and Habitat for Humanity International announced the kickoff of their third annual Women Build Week, running from March 8-15. This year will see the launch of 300 Women Build projects across the U.S., Canada, and India, aiming to support women-led households affected by the COVID-19 pandemic. Lowe's has increased its donation to nearly $2.7 million, up from $1.9 million in 2020, demonstrating a commitment to enhancing safe housing access. The partnership, established in 2003, has benefitted over 143,000 volunteers and funded over 6,000 housing projects.
Lowe's celebrates its 100th anniversary by launching the 100 Hometowns initiative, committing $10 million to fund 100 community impact projects across the U.S. in 2021. Nominations for project grants open on March 9 and will close on April 19, with selections announced in June. The initiative emphasizes community restoration and improvement, reflecting Lowe's core values of service. Award-winning artist Kane Brown will kick off the program in his hometown, Chattanooga, Tennessee, promoting local engagement and support.
The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine has selected Lowe's Companies Inc. (NYSE:LOW) as the "Stock to Study" and Chevron Corp. (NYSE:CVX) as the "Undervalued Stock" in the May 2021 issue. The committee emphasizes the importance of diversification to minimize investment risk. Investors can access more insights on these selections through BetterInvesting's online tools, which provide fundamental data for each stock.
Lowe's Companies (NYSE: LOW) has announced that David M. Denton, the Chief Financial Officer, will participate in a Fireside Chat at the UBS Global Consumer & Retail Virtual Conference. The event is scheduled for 8:00 a.m. ET on March 10, 2021. Interested parties can listen live online or access the archived webcast on the Lowe's Investor Relations website. Lowe's serves approximately 20 million customers weekly and recorded nearly $90 billion in fiscal year 2020 sales, operating over 2,200 stores across the U.S. and Canada.
Lowe's Companies, Inc. (NYSE: LOW) announced that all stores in the U.S. and Canada will close on Easter Sunday, April 4, 2021, to honor over 300,000 associates. CEO Marvin R. Ellison emphasized the importance of spending time with family and assured staff that they can make up scheduled hours to avoid pay loss. The company also revealed a $80 million seventh discretionary bonus to associates, totaling over $900 million in pandemic-related bonuses and nearly $1.3 billion in COVID support since the pandemic began. Lowe's is hiring more than 50,000 seasonal and full-time associates.
Lowe's Companies reported strong financial results for Q4 2020, with net earnings of $978 million and diluted EPS of $1.32, up from $509 million and $0.66 respectively in Q4 2019. Adjusted diluted EPS increased 41.5% to $1.33. Total sales reached $20.3 billion, a 28.1% increase, with comparable sales for the U.S. home improvement sector rising 28.6%. The company also repurchased 21.1 million shares for $3.4 billion during the quarter. Looking ahead, Lowe's anticipates further market share growth and operating margin expansion in 2021.
Lowe's (NYSE: LOW) has announced the successful outcomes of its inaugural virtual pitch program, Making It…with Lowe's, which evaluated over 400 innovative products from diverse entrepreneurs. The top three participants—Joe Porche with Handle and Haul, Christina Woerner McInnis with SoilKit, and Taufeek Shah with Lola's Fine Hot Sauce—each received grants and opportunities for marketing support, as well as shelf space in Lowe's stores and online. Following the success of season one, a second season will be launched this fall, enhancing support for small businesses.
Lowe's Companies, Inc. (NYSE: LOW) will hold its fourth quarter 2020 earnings conference call on February 24, 2021, at 9:00 a.m. ET. The webcast can be accessed via the Lowe's Investor Relations website, with supplemental materials available 15 minutes before the call. A replay of the call will be available from 12:00 p.m. ET on February 24 until May 18, 2021. Lowe's serves approximately 18 million customers weekly across the U.S. and Canada, with fiscal year 2019 sales reaching $72.1 billion.
Lowe's is hosting a unique Valentine's Day event, giving 50 couples the chance to participate in an intimate splash-painting date night at select stores. Scheduled for February 14 from 8-10 p.m., the event will take place in ten romantic cities, including Chicago and San Francisco. Couples will enjoy a toast, light bites, and choose from a curated paint color menu before creating a collaborative artwork to take home. Interested participants can enter via Lowes.com/valentines until February 7.
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