Content about Lowe's

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%.

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.

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.

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.

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.

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.

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.

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.

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.

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.
 

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.

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.