Content about Lowe's

May 22, 2013

Cool weather affected sales at Lowe's for the first quarter ended May 3.

New York -- Cool weather affected sales at Lowe's for the first quarter ended May 3. 

Lowe’s saw net earnings of $540 million for the quarter, a 2.5% increase over the same period a year ago. Sales for the quarter decreased 0.5% to $13.1 billion from $13.2 billion in the year-ago quarter, while comparable-store sales decreased 0.7%. 

The world’s second largest home improvement retailer reported its results a day after rival Home Depot announced first-quarter sales of $19.1 billion, up 7.4%.

May 22, 2013

Cool weather affected sales at Lowe's for the first quarter ended May 3.

New York -- Cool weather affected sales at Lowe's for the first quarter ended May 3. 

Lowe’s saw net earnings of $540 million for the quarter, a 2.5% increase over the same period a year ago. Sales for the quarter decreased 0.5% to $13.1 billion from $13.2 billion in the year-ago quarter, while comparable-store sales decreased 0.7%. 

The world’s second largest home improvement retailer reported its results a day after rival Home Depot announced first-quarter sales of $19.1 billion, up 7.4%.

February 25, 2013

Lowe's Co. reported fourth quarter profits that topped Wall Street estimates, helped rebuilding efforts in the wake of Hurricane Sandy and general remodeling activity.

Mooresville, N.C. -- Lowe's Co. reported fourth quarter profits that topped Wall Street estimates, helped rebuilding efforts in the wake of Hurricane Sandy and general remodeling activity. The retailer also said it authorized a new $5 billion share buyback program that it expects to use in the next two year

February 21, 2013

Lowe’s announced that Lara Lee will join the company as SVP customer experience design, effective Feb. 25.

Mooresville, N.C. -- Lowe’s announced that Lara Lee will join the company as SVP customer experience design, effective Feb. 25. She will report to Robert J. (Bob) Gfeller, customer experience design executive.
 
Lee joined Lowe’s from global design and innovation firm Continuum, where she served as chief innovation and operating officer.

Lee will be responsible for translating business strategies into integrated, multichannel experiences that deliver value to home improvement consumers.

 

February 8, 2013

Lowe’s Cos. said that Sylvain Prud'homme will join the company as president of Lowe's Canada, effective March 25.

Mooresville, N.C. -- Lowe’s Cos. said Friday that Sylvain Prud'homme will join the company as president of Lowe's Canada, effective March 25.

Prud’homme replaces Alan D. Huggins, who is returning to the United States as Lowe's VP international operations.

Prud'homme comes to Lowe's from Loblaw Co., where he served in EVP roles in operations and merchandising.

 

January 31, 2013

Lowe’s Cos. has named Stephen Szilagyi to the post of supply chain executive, reporting to Rick Damron, COO.

Mooresville, N.C. -- Lowe’s Cos. has named Stephen Szilagyi to the post of supply chain executive, reporting to Rick Damron, COO.

In his new role, Szilagyi will oversee Lowe’s logistics and distribution network that expedites the replenishment of merchandise and supplies to all Lowe’s stores.

Szilagyi has more than 25 years of supply chain experience, including leadership roles prior to Lowe’s in wholesale distribution and retail/consumer products supply chain consulting services.

January 24, 2013

Lowe’s Cos. Inc. said it has named Michael Jones chief merchandising officer, effective immediately.

Mooresville, N.C. -- Lowe’s Cos. Inc. said Thursday it has named Michael Jones chief merchandising officer, effective immediately. Jones was previously president of the North American and Latin American divisions of Husqvarna, an outdoor equipment manufacturer.

The retailer also announced that Stephen J. Szilagyi has been promoted to supply chain executive, from his current position as SVP distribution.

January 23, 2013

Lowe’s announced that it plans to hire 45,000 seasonal workers at its U.S. stores, 13% more than a year earlier, and add 9,000 permanent part-time employees as the housing rebound spurs remodeling.

Mooresville, N.C. -- Lowe’s announced that it plans to hire 45,000 seasonal workers at its U.S. stores, 13% more than a year earlier, and add 9,000 permanent part-time employees as the housing rebound spurs remodeling.

The permanent part-time positions include store associates focused on direct interaction and expertise for customers. Employees in the permanent positions will be scheduled to work during peak weekday shopping times.

December 6, 2012

Mooresville, N.C.-based Lowe’s is telling investors and analysts that changes are in the works, a message it has delivered steadily over the last several quarters.

New York -- Mooresville, N.C.-based Lowe’s is telling investors and analysts that changes are in the works, a message it has delivered steadily over the last several quarters.

November 20, 2012

Lowe’s Companies announced that that Marise Kumar has joined the company as senior VP strategy and modeling.

Mooresville, N.C. -- Lowe’s Companies announced that that Marise Kumar has joined the company as senior VP strategy and modeling. She joins Lowe’s with more than 25 years of experience in brand management, general management and executive leadership, serving most recently as chief customer experience officer and chief marketing officer for Best Buy.

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.

 

October 9, 2012

The U.S. Environmental Protection Agency has awarded Lowe’s Cos. the highest honors for industry leadership in its WaterSense and SmartWay programs.

Mooresville, N.C. -- The U.S. Environmental Protection Agency has awarded Lowe’s Cos. the highest honors for industry leadership in its WaterSense and SmartWay programs.

Lowe’s received the 2012 SmartWay Excellence Award for its environmental performance in the freight transportation industry. Last week, the EPA named Lowe’s the 2012 WaterSense Retailer Partner of the Year for its efforts to educate consumers about water-efficient products and practices.

September 17, 2012

Lowe’s Cos. Inc. said it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

Morrisville, N.C. -- Lowe’s Cos. Inc. said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona’s dealer companies, many of whom threatened to sever their ties with Rona should Lowe’s succeed in its acquisition attempt.

August 30, 2012

Lowe’s Companies and the collegiate multimedia, marketing and licensing/brand management firm IMG College announced a national marketing agreement that helps the home improvement retailer reach college sports fans where dialogue is a game changer: official social media platforms.

MOORESVILLE, N.C. -- Lowe’s Companies and the collegiate multimedia, marketing and licensing/brand management firm IMG College announced a national marketing agreement that helps the home improvement retailer reach college sports fans where dialogue is a game changer: official social media platforms.
 

June 27, 2012

Microsoft said that Lowe's Home Improvement is engaging its services to help improve customer service.

Redmond, Wash. -- Microsoft said Wednesday that Lowe's Home Improvement is engaging its services to help improve customer service. The retailer will implement Microsoft Office 365 across more than 1,745 stores, 200,000 employees and its corporate offices in the United States, Canada and Mexico.

Office 365 will help Lowe’s improve customer service by providing collaboration tools to increase communication among its stores and employees.

June 27, 2012

Microsoft said that Lowe's Home Improvement is engaging its services to help improve customer service.

Redmond, Wash. -- Microsoft said Wednesday that Lowe's Home Improvement is engaging its services to help improve customer service. The retailer will implement Microsoft Office 365 across more than 1,745 stores, 200,000 employees and its corporate offices in the United States, Canada and Mexico.

Office 365 will help Lowe’s improve customer service by providing collaboration tools to increase communication among its stores and employees.

June 4, 2012

Harris Teeter Supermarkets entered into an agreement with Lowe’s Food Stores whereby Harris Teeter will acquire 10 Lowes locations in the central Carolinas region and Lowes Foods acquiring six Harris Teeter store locations in western North Carolina.

Charlotte, N.C. -- Harris Teeter Supermarkets entered into an agreement with Lowe’s Food Stores whereby Harris Teeter will acquire 10 Lowes locations in the central Carolinas region and Lowes Foods acquiring six Harris Teeter store locations in western North Carolina.

In addition to the six Harris Teeter stores, Harris Teeter has agreed to pay Lowes Foods $26.5 million. The transaction is expected to be completed in the company’s third quarter of fiscal 2012, which ends July 1, 2012.

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 17, 2012

Lowe’s Cos. said it will sell $2 billion in notes, with net proceeds, estimated at $1.982 billion, to be used for general corporate purposes.

Morrisville, N.C. -- Lowe’s Cos. said Monday it will sell $2 billion in notes, with net proceeds, estimated at $1.982 billion, to be used for general corporate purposes.

Closing is expected to occur on April 23. Lowe's plans to sell $500 million of 1.625% notes due 2017, $750 million of 3.12% notes due 2022 and $750 million of 4.65% notes due 2042.
 

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.

April 4, 2012

Lowe's is going on the offensive, and investing in a wide array of initiatives to win shoppers from rival The Home Depot.

New York -- Lowe's is going on the offensive, and investing in a wide array of initiatives to win shoppers from rival The Home Depot.

“Everything we did [in the past] was store-centric. Today, we are all about the customer. So, it's about meeting the customer on their terms, no matter how they choose to interact with Lowe's: Whether it is in their room, at their jobsite, on the phone or on the web,” Robert Hull, CFO, Lowe’s, told Reuters.

April 4, 2012

Lowe's is going on the offensive, and investing in a wide array of initiatives to win shoppers from rival The Home Depot.

New York -- Lowe's is going on the offensive, and investing in a wide array of initiatives to win shoppers from rival The Home Depot.

“Everything we did [in the past] was store-centric. Today, we are all about the customer. So, it's about meeting the customer on their terms, no matter how they choose to interact with Lowe's: Whether it is in their room, at their jobsite, on the phone or on the web,” Robert Hull, CFO, Lowe’s, told Reuters.

January 25, 2012

Lowe's announced that is partnering with Houzz, a social site for home remodeling and design, to offer consumers the chance to win a dream kitchen.

Mooresville, N.C. -- Lowe's announced that is partnering with Houzz, a social site for home remodeling and design, to offer consumers the chance to win a dream kitchen.

As part of its marketing relationship with Houzz, Lowe's has launched the “Dream Kitchen” sweepstakes, giving customers the chance to win a dream kitchen, valued at $50,000, designed and built by Houzz's top designers and contractors with materials from Lowe's.

January 25, 2012

Lowe's announced that is partnering with Houzz, a social site for home remodeling and design, to offer consumers the chance to win a dream kitchen.

Mooresville, N.C. -- Lowe's announced that is partnering with Houzz, a social site for home remodeling and design, to offer consumers the chance to win a dream kitchen.

As part of its marketing relationship with Houzz, Lowe's has launched the “Dream Kitchen” sweepstakes, giving customers the chance to win a dream kitchen, valued at $50,000, designed and built by Houzz's top designers and contractors with materials from Lowe's.