Content about Lowe's Cos.

November 19, 2012

Lowe's Cos. said that its third-quarter net income jumped 76%, helped by lower costs and higher revenue.

New York -- Lowe's Cos. said Monday that its third-quarter net income jumped 76%, helped by lower costs and higher revenue. Its adjusted earnings without charges and its revenue both beat Wall Street forecasts.  

Lowe's earned $396 million for the three months ended Nov. 2. That compares with $225 in the year-ago period. Revenue rose 2% to $12.07 billion from $11.85 billion. Same-store sales were up 1.8%.

October 19, 2012

Lowe's Cos. is seeking to hire two senior executives that could play a role in its CEO succession plan, according to the Associated Press.

New York -- Lowe's Cos. is seeking to hire two senior executives that could play a role in its CEO succession plan, according to the Associated Press.

The chain is looking for a chief merchandising officer and a head of supply chain. The positions were left vacant in May due to a reorganization.

Lowe’s is looking both internally and externally, the report said.

 

August 20, 2012

Lowe's Cos. Inc. reported lower-than-expected second quarter results, with its results hurt by a timing shift and a charge tied to job cuts.

Mooresville, N.C. -- Lowe's Cos. Inc. on Monday reported lower-than-expected second quarter results, with its results hurt by a timing shift and a charge tied to job cuts. The chain also lowered its fiscal 2012 earnings and revenue outlooks.

Lowe’s earned $747 million for the period ended Aug. 3, down from $830 million in the year-ago period. Sales fell 2% to $14.25 billion. Same-store sales fell 0.4% and dipped 0.2% at U.S. locations.

The company noted that fiscal 2012 has one less week than last year.

April 19, 2012

Lowe's Cos. Inc. said it has promoted two of its executives to newly created positions.

Mooresville, N.C. -- Lowe's Cos. Inc. said Thursday it has promoted two of its executives to newly created positions.

Effective May 5, current executive VP business development Gregory Bridgeford been named chief customer officer. Rick Damron, executive VP store operations, has been named COO.
 

April 11, 2012

Lowe's Cos. announced that Michael K. Brown, executive VP and CIO, will retire after almost 28 years with the company.

Mooresville, N.C. -- Lowe's Cos. announced that Michael K. Brown, executive VP and CIO, will retire after almost 28 years with the company. The company has begun a search for a replacement. Brown will continue to serve in his present role for a period of time to assist with the transition.

Brown was named CIO in 2011 after a 26-year career in store operations and merchandising. He joined the company in 1984.

November 14, 2011

Lowe's Cos. reported that net income for the quarter ended Oct. 28 dropped 44% as store-closing charges undercut a slight uptick in quarterly sales.

Mooresville, N.C. -- Lowe's Cos. reported Monday that net income for the quarter ended Oct. 28 dropped 44% as store-closing charges undercut a slight uptick in quarterly sales.

The home-improvement retailer reported net earnings of $225 million, compared with $404 million in the year-ago period. Charges related to store closures amounted to a pre-tax earnings reduction of $336 million.

Sales increased 2.3% to $11.9 billion, up from $11.6 billion a year earlier. Same-store sales edged up 0.7%, reversing declines in two prior quarters.

October 17, 2011

Lowe's Cos. announced Monday it will open 10 to 15 stores annually in North America from 2012 forward, down from its prior target of 30 stores, and will close 20 underperforming locations.

Mooresville, N.C. -- Lowe's Cos.  announced Monday it will open 10 to 15 stores annually in North America from 2012 forward, down from its prior target of 30 stores, and will close 20 underperforming locations. The chain is on track to open 25 stores as planned in 2011.

The stores scheduled to be closed are in 15 states, ranging from California to Maine. The closings will impact some 1,950 employees.

May 16, 2011

Lowe's Cos. said Monday its first-quarter profit fell 6%, due in part by bad weather and difficult economic conditions.

Mooresville, N.C. -- Lowe's Cos. said Monday its first-quarter profit fell 6%, due in part by bad weather and difficult economic conditions. The chain cut its full-year outlook.

Lowe's reported net income of $461 million for the three months ended April 29, down from $489 million a year earlier. Its results missed estimates. Revenue fell 2% to $12.19 billion. Same-store sales were down 3.3%.

January 26, 2011

Lowe's Cos. announced Tuesday that it is laying off approximately 1,700 middle managers across the United States in an effort to cut costs as its profit trains rival The Home Depot.

Morrisville, N.C. -- Lowe's Cos. announced Tuesday that it is laying off approximately 1,700 middle managers across the United States in an effort to cut costs as its profit trains rival The Home Depot. The retailer also plans to add 8,000 to 10,000 weekend sales assistants to improve staffing during its stores’ busiest times.

January 20, 2011

Lowe's Cos. said Thursday that executive VP and chief information officer Steven Stone is leaving the company in order to pursue other interests.

Mooresville, N.C. -- Lowe's Cos. said Thursday that executive VP and chief information officer Steven Stone is leaving the company in order to pursue other interests.

Lowe’s said it has named current executive VP store operations and Lowes.com Michael Brown as Stone’s successor.

Brown will report to chairman and CEO Robert Niblock.

January 21, 2010

Mooresville, N.C.-based Lowe's Cos. teamed with American Express Open to launch the Lowe's Business Rewards...

March 12, 2008

Officials at Lowe's Cos. said it remains optimistic that conditions will improve despite a weak...

December 9, 2007

New York City, ...

November 11, 2007

Mooresville, N.C., Lowe's...

March 13, 2007

Atlanta, The chairman...

June 29, 2006

Mooresville, N.C., Lowe's...