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Lowe's Companies, Inc. reports developments tied to its home improvement retail business, including sales and earnings results, comparable sales trends, annual outlooks, cash dividends, and capital allocation. The company serves do-it-yourself, do-it-for-me, and professional customers through a national store, branch, and distribution network for home decorating, maintenance, repair, remodeling, lawn and garden, and project essentials.
Recurring Lowe's news also covers Pro customer credit and rewards programs, seasonal merchandising events, loyalty offerings such as home maintenance services, supply-chain technology partnerships, and community initiatives focused on housing, local renovation projects, disaster relief, and skilled trades training.
Lowe's Companies, Inc. (NYSE: LOW) announced a debt offering totaling $5 billion, consisting of various notes with maturities ranging from 2027 to 2062. The breakdown includes $750 million of 3.350% Notes due 2027, $1.5 billion of 3.750% Notes due 2032, $1.5 billion of 4.250% Notes due 2052, and $1.25 billion of 4.450% Notes due 2062. Proceeds will be used for general corporate purposes, with closing expected on March 24, 2022. The offering is managed by BofA Securities, Citigroup, J.P. Morgan, and RBC Capital Markets.
Lowe's Companies, Inc. (NYSE: LOW) has announced a quarterly cash dividend of $0.80 per share, payable on May 4, 2022. Shareholders of record as of April 20, 2022 will receive this payment. In fiscal year 2021, Lowe's reported sales exceeding $96 billion and serves around 19 million customers weekly across nearly 2,200 stores in the U.S. and Canada. This announcement underscores Lowe's commitment to return value to its shareholders while continuing to support community development initiatives.
Lowe's announces its SpringFest event, running from April 7 to May 4, 2022, designed to enhance customer experiences with workshops and special promotions on gardening and outdoor products. In support of Earth Day, the company aims to introduce one million new plants, with giveaways tied to social media engagement. Key promotions include discounts on select mowers and patio sets. New DIY workshops will be available through the retailer's learning platform, expanding opportunities for customers to refresh their skills and outdoor spaces.
Lowe's has committed $100 million over five years to its new community impact program called Lowe's Hometowns, aiming to complete nearly 1,800 projects annually across the U.S. from 2022 to 2026. This includes 100 signature projects based on consumer nominations, enhancing local spaces significantly. The program builds on previous successes, revitalizing over 100 community areas and benefiting 1.3 million people during its 2021 initiative. The launch of this program coincides with increased demand for community support due to the pandemic, showcasing Lowe's dedication to improving homes and communities.
Lowe's Companies (NYSE: LOW) announced that David M. Denton, CFO, will participate in a fireside chat at the UBS Global Consumer and Retail Conference on March 9, 2022, at 12:00 p.m. ET. The event will be accessible via an audio webcast on the company's investor relations site.
Lowe's serves approximately 19 million customer transactions weekly, generating over $96 billion in fiscal 2021 sales across nearly 2,200 stores.
Lowe's has launched DIY-U by Lowe's, a new DIY ecosystem aimed at engaging homeowners, particularly millennials, with personalized home improvement learning experiences. Starting on February 28, 2022, homeowners can register for live-stream and in-store workshops. The program will feature monthly themes and expert-led sessions, enhancing the DIY skills of participants. The initial offerings include workshops on bathroom updates and home office enhancements.
With this initiative, Lowe's aims to create a supportive DIY community and adapt to the evolving needs of modern consumers.
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.