Content about Lowe's News

August 22, 2014

Lowe’s generated positive comp-store sales in all of its product categories in the second quarter. And even as it faced a strong comparison to the prior-year’s quarter, lawn and garden led the way.

Those were among the insights provided by Lowe’s executives during their second-quarter earnings report, in which the Mooresville, North Carolina-based company reported sales and earnings growth.

August 22, 2014

While describing his company’s second-quarter sales performance, Lowe’s CEO Robert Niblock offered an economic forecast tinged with optimism.

August 20, 2014

On Wednesday morning, it was Lowe's turn to deliver strong quarterly earnigns.

And the Mooresville, North Carolina-based retail giant did just that. The company reported net earnings of $1.04 billion for the quarter ended Aug. 1, marking a 10.4% increase over the second quarter last year. Sales for the quarter were up 5.7% to $16.6 billion, as comparable-store sales were up 4.4%.

"We were able to recover most of the outdoor product sales missed in the first quarter due to unfavorable weather conditions," said Robert Niblock, president and CEO.

August 18, 2014

Citing insider sources, Bloomberg reported Friday that Lowe's is working with Goldman Sachs in its search for acquisitions in Brazil, although the company is still reportedly weighing its options.

The move would help Lowe's establish a presence in a market without clear leaders -- one that's expanding as incomes (and the number of new homeowners) grows in Brazil. As it stands, there's little competition aside from corner hardware stores.

July 29, 2014

Massachusetts-based lighting company Osram Sylvania announced that it would be expanding it’s lineup of LED light bulbs. This month, Lowe’s will start stocking the seven new bulbs.

Among the company’s new LED bulb offerings are the ones meant to replace 40- and 60-watt incandescent bulbs. The 60-watt LED bulb puts out the same amount of light as a 60-watt incandescent with 8.5 watts of electricity.

July 29, 2014

Lowe's is catering even further to its pro customers with the launch of ProExpress, an on-demand delivery service for emergency and last-minute supplies.

"For pros, time is money," said Mike Horn, VP ProServices. "The ProExpress program allows us to offer our pro customers the ultimate convenience and flexibility by delivering the materials they need, when they need them."

July 22, 2014

Lowe's revealed its plans Tuesday to build a new Customer Support Center in Indianapolis, which is expected to reach completion by 2016.

The announcment was made with Lowe's officials in the company of Indiana Governor Mike Pence and Indianapolis Mayor Greg Ballard. 

July 22, 2014

The Devine Contact Collection of luxury vinyl flooring is now available at Lowe's locations throughout Canada.

The flooring product, which offers the additional sales proposition of easy installation with a patented adhesive backing, is also currently distributed through Wanke Cascade in the Western U.S. The product is not on the shelves in Lowe’s U.S. stores.

June 25, 2014

Mooresville, North Carolina-based Lowe’s CFO Bob Hull added color to the company’s effort to maximize its multichannel efficiencies and move away from a build-stores-and-they-will-come approach to growth.   

[Read about Lowe's first quarter earnings here.]

June 13, 2014

Lowe's is taking a big step into the future with the launch of the Lowe's Holoroom, a life-size, 20-ft.-by-20-ft. virtual room that uses augmented reality and 3-D technology to create simulations of home interiors.

June 9, 2014

Lowe's and Paul Ramsay have made it official. Having served his time as acting CIO since March, Ramsay is now officially enjoying the title of chief information officer, effective immediately.

June 9, 2014

Lowe’s says its pro business generates about 30% of its business, that’s up from previous estimates of about 25%. 

Rick Damron, chief operating officer of Lowe’s, said the first quarter comp-store sales for the pro was about three times the comp number for the company.

The company’s first quarter comps were up 0.9%.

June 7, 2014

Coupons for Iris from Lowe's, the smart home program, are reaching State Farm insurance customers thanks to a deal between the insurance and retail giants. 

In mailings to its customers, State Farm has included coupons good for $10 discounts for Iris Safe & Secure Kits and $25 discounts for Iris Smart Kits. State Farm is further incentivizing the systems with up to 2% discounts on homeowners insurance for those who have the systems in their homes.

June 5, 2014

If we didn't know better, we'd say Father's Day and the home improvement industry were practically made for each other. No other industry -- aside from maybe the neck-tie market -- has as much to offer during mid-June.

As it so happens, a few home channel brands are already warming up for the holiday with Father's Day products and marketing campaigns.

May 29, 2014

While a far cry from the kind of widespread data breach that struck Target Corp. last year, an employee-related data breach at Lowe's has spurred letters to possible victims who are advised to be aware of the breach.

The breach affected the company's current and former drivers, who may have had their personal information -- including social security numbers -- compromised when data was backed up unintentionally on a computer that was not secure and open to the Internet. 

May 29, 2014

A Lowe’s spokeswoman told HCN that various blogs covering the story about a Lowe’s data breach inaccurately implied that consumers were affected. 

That’s not the case, said Karen Cobb, manager of corporate public relations for the Mooresville, North Carolina-based retail giant.

“This situation affected only documentation of employees approved to drive Lowe’s-owned vehicles and in no way contained any customer data,” she said.

May 21, 2014

Bad weather for retail dampened sales at Lowe's, but earnings surged well into the double digits for the first quarter, the company announced Wednesday morning.

Lowe's sales increased 2.4% in the first quarter, rising to $13.4 billion. Comparable-store sales increased 0.9%.

The Mooresville, North Carolina-based retail giant reported a net earnings surge of 15.6% to $624 million for the quarter ended May 2.

May 21, 2014

Lowe's has a new SVP in Michael Tummillo, who is taking over the Building and Maintenance division as SVP and general merchandising manager.

In his new role, Tummillo will be responsible for the company's Lumber & Building Materials, Millwork, Tools & Hardware and Rough Plumbing & Electrical divisions.

He replaces Michael McDermott, who will now serve as CMO and direct supervisor to Tummillo.

May 19, 2014

Lowe’s and Valspar are describing their new Valspar Reserve Paint + Primer with HyrdoChroma Technology as groundbreaking and revolutionary.

A Lowe’s exclusive, the pain retails at $42 to $45 per gallon for interior and $46 to $49 per gallon for exterior.

May 15, 2014

The makers of the MusselBound Adhesive Tile Mat announced the product is now at Lowe’s stores nationwide. 

The product, from Brewster, Massachusetts-based MusselBound, is for the contractor or DIY customer working on backsplash, countertop and shower wall projects. It’s described as an easily applied adhesive that can be affixed directly to drywall, cement board, plywood, old tile and existing laminate. 

April 29, 2014

Lowe's and Porch have been busy since announcing their strategic partnership last January. Now, the companies are making the alliance known in all 1,700+ Lowe's stores nationwide after first introducing the service in the Carolinas and Seattle areas.

That means Porch is the in-store resource at every Lowe's store in the country, there to help homeowners link up with home improvement professionals for just about every project outside of Lowe's current installation services.

April 24, 2014

Mooresville, N.C.-based Lowe's has named Michael McDermott to the high-profile position of chief merchandising officer.

McDermott replaces Michael Jones, who is transitioninig into the role of COO on April 30, supervising McDermott. He will be responsible for the merchandising operations of Lowe's U.S. business, as well as all global sourcing activities. He has been with the company since 2013 as SVP general merchandising. He has over 20 years of experience in the field, with previous stints at General Electric.

April 17, 2014

According to the U.S. Environmental Protection Agency and the Department of Justice, Lowe's has agreed to settle its lead paint case for $500,000 and to implement a new compliance program at all 1,700+ locations nationwide.

The settlement is a response to an EPA investigation that found that Lowe's lacked the documentation to prove it had abided by the agency's regulations when hiring contractors in nine states or using EPA-approved lead paint testing kits. The EPA was originally tipped off by comments and complaints from the public.

March 25, 2014

Hundreds of Lowe's employee volunteers teamed up with Habitat for Humanity affiliates to build homes in 10 U.S. cities this Friday, kicking off the nationwide volunteer drive known as "Hammers for Habitat."

“Lowe’s has been one of the bedrock partners for Habitat for many years,” said Habitat for Humanity International CEO Jonathan Reckford. “We’re so excited about our long-term partnership, the effort to get 100,000 new volunteers active in Habitat’s work and the ripples of impact that will come from that.”

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