Lowe's Companies Inc. - LOW STOCK NEWS

Lowe's Companies, Inc. (NYSE: LOW) announced the appointment of Juliette Pryor as executive vice president, chief legal officer, and corporate secretary, effective May 3, 2023. Pryor, who has over 30 years of legal experience, previously held similar roles at Albertsons, Cox Enterprises, and US Foods. She succeeds Bill McCanless, who is retiring after serving since 2015. Lowe's CEO, Marvin Ellison, praised Pryor's extensive legal background and leadership skills, expressing confidence in her contribution to the executive team. The company reported total sales exceeding $97 billion for FY 2022, with around $92 billion generated in the U.S., where it operates over 1,700 stores and employs approximately 300,000 associates.

Lowe's has announced a donation of $500,000 to support recovery efforts following a series of devastating tornadoes in the U.S. The funds will aid disaster relief partners, including the American Red Cross, to provide essential services such as emergency shelter and food to affected communities. In addition to financial support, Lowe's associates have actively participated in relief activities across several locations, distributing over 1,100 buckets filled with supplies and over 700 cases of water. The company is also doubling its matching contributions to the Lowe's Employee Relief Fund, increasing support for its associates. This initiative aligns with Lowe's commitment to assist communities in crisis.

Lowe's Companies, Inc. (NYSE: LOW) announced that all stores and contact centers will close on Easter Sunday, April 9, 2023, for the fourth consecutive year. This decision is made in appreciation of the hard work and dedication shown by their approximately 300,000 associates, enabling them to spend the holiday with family. CEO Marvin Ellison highlighted the commitment of associates in providing excellent customer service throughout the year. Although stores will be closed, Lowes.com will remain operational for customer needs.

Lowe's (NYSE: LOW) announced on March 28, 2023, its decision to sell $3 billion in Notes to finance general corporate purposes. The offerings include:

• $1.0 billion of 4.800% Notes due 2026
• $1.0 billion of 5.150% Notes due 2033
• $500 million of 5.750% Notes due 2053
• $500 million of 5.850% Notes due 2063

The offering is led by BofA Securities, Citigroup, J.P. Morgan, and Mizuho Securities, with expected closing on March 30, 2023, pending customary conditions.

Lowe's has launched its third annual SpringFest event, running from March 30 to April 26, featuring significant discounts on gardening products and more. According to a recent survey, over half of homeowners plan to enhance their gardens this spring. The event aims to assist these homeowners with expert guidance and offers like 5 for $10 on mulch and $99 on selected tools. Shoppers can also participate in a $150,000 SpringFest sweepstakes. Alongside, Lowe's will host free workshops to engage families, enhancing their customer experience while promoting outdoor gardening.

Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of $1.05 per share, set to be paid on May 10, 2023. Shareholders of record by April 26, 2023 will receive this dividend. The company reported over $97 billion in total sales for fiscal 2022, with approximately $92 billion generated in the U.S. Lowe's serves around 17 million customer transactions weekly and operates over 1,700 home improvement stores nationwide, employing nearly 300,000 associates.

Lowe's announces the return of its product sourcing event, "Into the Blue," inviting entrepreneurs and businesses to apply until March 20, 2023. The event aims to discover innovative products for Lowe's stores, following last year's success with 270 suppliers and over 170 new vendors onboarded. Lowe's will invest up to $5 million in purchase orders for selected participants, who will showcase their products at the live event on June 13. With $97 billion in total sales for fiscal year 2022, Lowe's seeks to expand its vendor network and enhance customer offerings. More details can be found at Lowes.com/Suppliers.

The Lowe's Foundation is committing $50 million over five years to train 50,000 individuals for careers in skilled trades. This initiative, focusing on community and technical colleges, aims to address the significant labor shortage in the U.S., where 85% of contractors report difficulty finding skilled workers. Grants will be available for two years, with applications open until April 10, 2023. The program seeks to enhance diversity in the trades workforce and will accept applications in two cohorts. The first cohort targets technical colleges, while the second will focus on community-based organizations.

Lowe's has announced a national partnership with Hubbell Incorporated, enhancing its offerings by becoming the main retailer for several top professional electrical box brands, including Bell, RACO, TayMac, and Wiegmann. This partnership aims to provide professionals with quality electrical solutions, underlining Lowe's commitment to building a strong product portfolio tailored for professionals. With fiscal year 2022 sales exceeding $97 billion, Lowe's operates over 1,700 stores and serves approximately 17 million customers weekly. The collaboration aims to reinforce Lowe's position as a leader in the home improvement sector.