Content about Mooresville

October 17, 2014

Mooresville, North Carolina-based Amerock Hardware, a manufacturer of cabinet hardware, has a new president and CEO in Michael Marchi.

“I’m excited for this new position," said Marchi. "Amerock has a great brand, with a proud legacy. That’s one of the reasons I came here. The attraction for me was Amerock’s history and its even brighter future. The strength of brand, market position and product portfolio all backed by a solid reputation; that makes for tremendous opportunity.”

September 2, 2014

A Marin County California judge ordered Mooresville, North Carolina-based Lowe’s to pay a $1.6 million settlement over a lawsuit alleging the inaccurate description of structural dimensional building products.

One upshot of the settlement is the intention of Lowe’s to include the actual product dimensions of 2x4 lumber (1.5 inches by 3.5 inches) along with the description of the product as a “2x4.”

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 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.

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.]

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.

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.

March 24, 2014

Like most Americans, the editorial staff of HCN has been watching a lot of basketball lately. It’s all part of the national tradition known as March Madness, the 64-team single-elimination tournament designed to break your heart and bust your bracket.

February 28, 2014

Sales to pros are growing faster than sales to consumers at Lowe’s, which recently reported a fourth quarter sales gain of 5.6%.

According to Chief Customer Officer Greg Bridgeford, the Mooresville, N.C.-based retail giant sees an opportunity to capitalize on the pro market.

February 26, 2014

Mooresville, N.C.-based Lowe’s reported fourth quarter sales of $11.7 billion, up 5.6% from the same quarter last year, as comps increased 3.9%.

The company posted fourth-quarter net earnings of $306 million, up 6.3%.

November 21, 2013

Lowe’s CEO Robert Niblock said the Mooresville, N.C.-based retail giant saw strength in all parts of the country in the third quarter. 

As the company reported 6.2% comparable store sales gains, it also saw comps grow in 11 of 12 product categories. 

The only category to slip was outdoor power equipment. Niblock explained the catgory “was achieving solid positive comps into the last week of the quarter when faced with a substantial headwind from the sales of generators, the result of Superstorm Sandy.”

November 20, 2013

Mooresville, N.C.-based Lowe's reported a solid third quarter, with sizable gains in earnings and sales.

The company's net earnings increased 26.0% to $499 million. Sales for the quarter jumped 7.3% to $13.0 billion, up from $12.1 billion in the year ago quarter. Comparable sales for the quarter increased 6.2%. 

September 1, 2013

Mooresville, N.C.-based Lowe’s completed its acquisition of 72 Orchard Supply Hardware stores for some $205 million in cash.

Lowe’s also assumes payables owed to nearly all of Orchards’ supplier partners.

August 22, 2013

Lowe's COO Rick Damron told investors the retailer's second-quarter performance was balanced across categories as well as geographic regions. 

On Wednesday, the Mooresville, N.C.-based company reported second-quarter sales gains of 10.3% to $15.7 billion.  

August 22, 2013

Mooresville, N.C.-based Lowe's CEO Robert Niblock added some color to the company's plans to acquire 72 Orchard Supply Hardware stores. 

Earlier this week, the federal antitrust review and bankruptcy court approved Lowe's $205 million bid. In comments to investors Wednesday, Niblock said he expected the deal to close at the end of August.

August 21, 2013

Mooresville, N.C.-based Lowe's Cos. reported second-quarter sales of $15.7 billion, up 10.3% from $14.2 billion in the same quarter last year.

Comp-store sales for the world's second-largest home improvement retailer were up 9.6%, as net earnings jumped 16.2% to $1.48 billion.

July 16, 2013

Bloomberg is reporting that Orchard Supply Hardware Stores Corp. received bankruptcy court approval for $176.3 million in financing. 

The debtor-in-possession loan will fund operations at some 60 Orchard Supply Stores, as the California chain awaits finalization of an acquisition offer put forth by Mooresville, N.C.-based Lowe’s. 

June 19, 2013

No matter how you slice them, the numbers of the HCN Top 300 Industry Scoreboard reflect the rising housing market, increased spending on the home and an easy comparison with the previous year's performance.

Of the leading 300 home channel retailers, 277 show positive sales in the most recently completed finished fiscal year, and 12 show declines. Eleven others are listed as flat.

June 10, 2013

Mooresville, N.C.-based Lowe’s has begun nationwide movie-themed Build and Grow clinics for kids, featuring projects from animated films, including the new “Monsters University,” and the 1995 hit “Toy Story.”

The special hour-long clinics, recommended for children in grades two through five, will take place on select Saturdays at 10 a.m. and Sundays at 2 p.m. throughout the summer, the company announced. 

May 22, 2013

Mooresville, N.C.-based Lowe’s reported net earnings of $540 million for the quarter ended May 3, 2013, 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. Comparable-store sales for the quarter decreased 0.7%. 

February 11, 2013

Facing a potential public relations battle, the retail chain promotes plans for the smallest Lowe’s in New England.

January 30, 2013

The Mooresville, N.C.-based home center giant promoted Stephen Szilagyi to oversee logistics and distribution.

January 25, 2013

Michael Jones comes to the No. 2 home center chain from Husqvarna.

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