Lowe’s Companies to host Q3 2017 earnings conference call webcast on Tuesday, November 21, 2017

MOORESVILLE, N.C., 2017-Nov-15 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) third quarter 2017 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Tuesday, November 21, 2017 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Rick D. Damron, chief operating officer; and Marshall A. Croom, chief financial officer.  Supplemental slides will be available fifteen minutes prior to the start of the conference call.

What: Third Quarter 2017 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Tuesday, November 21, 2017

Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor

Click on Webcasts and then on Lowe’s Third Quarter 2017 Earnings Conference Call

How: Listen live online and view the supplemental slides by following the directions above

A webcast replay of the call can be accessed from 12:00 p.m. ET on November 21, 2017 through February 27, 2018 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Third Quarter 2017 Earnings Conference Call.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United StatesCanada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Media Inquiries:
704-758-2917
PublicRelations@Lowes.com

Customer Inquiries:
1-800-445-6937CustCare@Lowes.com

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@LowesMedia

SOURCE: Lowe’s Companies, Inc.

Lowe’s Companies, Inc. declares quarterly cash dividend of thirty five cents per share

MOORESVILLE, N.C., 2016-Nov-18 — /EPR Retail News/ — The Board of Directors for Lowe’s Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of thirty five cents ($0.35) per share, payable February 8, 2017, to shareholders of record as of January 25, 2017.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe’s and its related businesses operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Media Inquiries:

704-758-2917
PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

Lowe’s Companies to windup Hydrox Holdings through court appointed liquidator

SYDNEY, AUSTRALIA, 2016-Aug-30 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE:LOW) today (August 29, 2016) filed a motion requesting that the Federal Court of Australia appoint a liquidator to oversee the equitable and orderly wind up of the Masters Joint Venture vehicle, Hydrox Holdings, as part of a liquidation process that has been initiated by Woolworths. Lowe’s also alleges that Woolworths has conducted the affairs of Hydrox in a manner oppressive and unfairly prejudicial to Lowe’s, including by wrongfully and in bad faith seeking to terminate its joint venture agreement and by seeking to exclude Lowe’s from the management of Hydrox.

The Joint Venture (JV), formed in 2009, operates the Masters Home Improvement stores and the Home Timber and Hardware Group’s retail stores and wholesale distribution in Australia. Lowe’s owns one-third of the JV and Woolworths owns two-thirds as well as controlling the Board of Directors and day-to-day operations.

Despite every effort to reach a fair resolution with its JV partner, Lowe’s has been left with no other option but to seek the guidance of the court to achieve an equitable and orderly wind-up of the Masters business. Lowe’s has acted in good faith at every stage in both the development and operation of Masters, and has been at all times an engaged investor, a committed partner and proud employer. On the other hand, Woolworths has engaged in oppressive conduct, including by invalidly and in bad faith attempting to terminate the JV.

As previously announced, Lowe’s notified Woolworths on Jan. 15, 2016, of its intent to exercise its put option held under the JV arrangement. Woolworths is contractually obligated to pay to Lowe’s the fair value of its ownership stake as of Jan. 18, 2016, and has disclosed this to the market.

On Jan. 18, 2016 Woolworths’ Chairman Gordon Cairns announced to the ASX “an orderly prospective sale or windup of the business.”

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe’s and its related businesses operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

If you’re a journalist working on a story about Lowe’s: 
704-758-2917
PublicRelations@lowes.com

Source: Lowe’s Companies, Inc.

Lowe’s Companies, Inc. to live webcast its 2016 Annual Meeting of Shareholders on May 27, 2016

MOORESVILLE, N.C., 2016-May-24 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) invites you to listen to a live webcast of its 2016 Annual Meeting of Shareholders at 10:00 a.m. Eastern Time on Friday, May 27, 2016.

What:              Lowe’s Annual Meeting of Shareholders

When:             10:00 a.m. Eastern Time on Friday, May 27, 2016

Where:             Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor
Click Webcasts and then Lowe’s 2016 Annual Meeting of
Shareholders

How:                Live over the Internet – the archived webcast will be available until June 10, 2016.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 2,355 home improvement and hardware stores and 285,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Contact

If you’re a journalist working on a story about Lowe’s:704-758-2917 PublicRelations@lowes.com

Lowe’s Companies, Inc. closes RONA inc. acquisition in a C$3.2 billion transaction

  •  Together, Lowe’s Canada and RONA Have 539 Store Locations, Pro Forma Canadian Revenues of C$6 Billion
  • Companies are Well-Positioned for Growth in Canada’s Over C$45 Billion Home Improvement Market

MOORESVILLE, N.C. and BOUCHERVILLE, Quebec, 2016-May-24 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) (“Lowe’s” or the “Company”) today announced that it has completed its previously announced acquisition of RONA inc. (“RONA”), in a transaction valued at C$3.2 billion (US$2.4 billion).

The acquisition represents a key step in accelerating Lowe’s growth strategy.  It creates one of the largest home improvement retailers in Canada, with 539 store locations and pro forma revenues from Canadian operations of approximately C$6 billion. As a result, Lowe’sCanada and RONA are well-positioned for continued success serving Canada’s over C$45 billion and growing home improvement market.

“We are very pleased to welcome RONA and its talented team into the Lowe’s family,” said Richard D. Maltsbarger, Lowe’s chief development officer and president of international. “This transaction significantly expands our presence in the Canadian market and provides attractive opportunities to drive revenue and profit growth while delivering meaningful long-term benefits to shareholders, customers, suppliers, employees and the communities we serve.  We look forward to capitalizing on the significant potential created by bringing together our two great companies.”

Robert Sawyer, former president and CEO of RONA, added, “I am confident that RONA will be in good hands as part of Lowe’s and will have new opportunities and resources to grow its brands and build upon its heritage, providing Canadians with trusted products and advice to build and renovate their homes in total confidence.  This is an excellent next step for our people, our partners, our customers and our former shareholders.”    

The Canadian operations are led by Sylvain Prud‘homme, president and CEO of Lowe’sCanada. “We are delighted to join forces with RONA’s experienced team to take our businesses to the next level,” said Prud’homme. “With the closing now behind us, we have hit the ground running and are focused on assuring a smooth transition and taking full advantage of the outstanding opportunities we see as one of Canada’s leading home improvement retailers.”

Lowe’s Commitments in Canada

As previously announced, as part of its acquisition of RONA, Lowe’s made certain key commitments in Canada including:

  • headquartering the Canadian businesses in Boucherville, Quebec;
  • maintaining RONA’s multiple retail store banners;
  • enhancing distribution services to dealer owners;
  • continuing RONA’s employment of the vast majority of its current employees and maintaining key executives from RONA’s strong leadership team;
  • continuing RONA’s local and ethical procurement strategy and potentially expanding relationships both Lowe’s and RONA have developed with Canadian manufacturers and suppliers; and
  • continuing to support Canadian communities through RONA and Lowe’s charitable and environmental initiatives.

RONA brings to Lowe’s a network of 496 corporate and dealer-owned stores in a number of complementary formats, as well as nine distribution centres serving corporate stores, dealer owners operating under various banners, and Ace for which RONA owns the licensing rights and is the exclusive distributor in Canada.

As mentioned in RONA’s first quarter earnings press release issued on May 10, 2016, dividends on common shares declared by RONA’s board of directors on May 9, 2016, to be paid on June 23, 2016 to shareholders of record on June 8, 2016, will not be paid according to the plan of arrangement since closing will occur before the payment date. A quarterly dividend of $0.20775 per share on cumulative and fixed 5-year Rate Reset Series 6 Class A preferred shares, as well as a quarterly dividend of $0.19384 per share on cumulative and variable 5-year Rate Reset Series 7 Class A preferred shares will be paid on June 30, 2016to shareholders of record on June 15, 2016 as these preferred shares are no longer part of the plan of arrangement and will continue to trade after closing. RONA’s annual meeting of shareholders, initially scheduled to be held on June 20, 2016, has been cancelled in light of the completion of the Arrangement.

Registered common shareholders of RONA (“RONA Shareholders”) must submit the share certificates representing their RONA common shares and complete, execute and submit the Letter of Transmittal sent to them with the other materials for the special meeting of RONA shareholders held on March 31, 2016 in order to receive the consideration to which they are entitled.  RONA Shareholders who have not yet submitted their share certificates and Letters of Transmittal are encouraged to do so as soon as possible.  Any questions regarding payment of the consideration, including any request for another copy of the Letter of Transmittal, should be directed to Computershare Investor Services Inc. via telephone at 1-800-564-6253 (toll free in North America) or via email at corporateactions@computershare.com.

Advisors

CIBC World Markets Inc. and RBC Capital Markets served as financial advisors to Lowe’s in connection with the Transaction.  Stikeman Elliott LLP served as legal counsel to Lowe’s inCanada, and Hunton & Williams LLP served as legal counsel to Lowe’s in the U.S.  Scotia Capital Inc. served as exclusive financial advisor to RONA.  Norton Rose Fulbright Canada LLP served as legal counsel to RONA.

About Lowe’s Companies, Inc.
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 2,355 home improvement and hardware stores and 285,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including those regarding the acquisition by Lowe’s Companies, Inc. of RONA, inc. and the expected impact of the transaction on Lowe’s strategic and operational plans and financial results.  Statements including words such as “may”, “will”, “could”, “should”, “would”, “plan”, “potential”, “intend”, “anticipate”, “believe”, “estimate” or “expect” and other words, terms and phrases of similar meaning are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Such forward-looking statements include, but are not limited to, statements or implications about the benefits of the transaction, including future financial and operating results, Lowe’s plans, objectives, expectations and intentions, expectations for sales growth, comparable sales, earnings and performance, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, Lowe’s strategic initiatives, any statement of an assumption underlying any of the foregoing and other statements that are not historical facts.  Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors which can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, such as a demographic shift from single family to multi-family housing, a reduced rate of growth in household formation, and  slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our traditional operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; and (ix) respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales. In addition, we could experience additional impairment losses if either the actual results of our operating stores are not consistent with the assumptions and judgments we have made in estimating future cash flows and determining asset fair values, or we are required to reduce the carrying amount of our investment in certain unconsolidated entities that are accounted for under the equity method. For more information about these and other risks and uncertainties that we are exposed to, you should read the “Risk Factors” and “Critical Accounting Policies and Estimates” included in our most recent Annual Report on Form 10-K to the United States Securities and Exchange Commission (the “SEC”) and the description of material changes therein or updated version thereof, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC.

The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the “Risk Factors” included in our most recent Annual Report on Form 10-K to the SEC and the description of material changes, if any, therein included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC. We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events, or otherwise.

SOURCE Lowe’s Companies, Inc.

Lowe’s Companies, Inc. Q1 2016: 31.4 percent increase of net earnings over the same period a year ago

MOORESVILLE, N.C., 2016-May-20 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $884 million for the quarter ended April 29, 2016, a 31.4 percent increase over the same period a year ago. Diluted earnings per share increased 40.0 percent to $0.98 from $0.70 in the first quarter of 2015.

The first quarter results include an unrealized gain on a foreign currency hedge entered into in advance of the Company’s pending RONA acquisition, which increased pre-tax earnings for the first quarter by $160 million and diluted earnings per share by $0.11.

Sales for the first quarter increased 7.8 percent to $15.2 billion from $14.1 billion in the first quarter of 2015, and comparable sales for the quarter increased 7.3 percent.  Comparable sales for the U.S. home improvement business increased 7.5 percent.

“We executed well in the quarter, growing both transaction and average ticket to achieve comparable sales growth that exceeded our expectations,” commented Robert A. Niblock, Lowe’s chairman, president and CEO. “We continued to focus on providing better omni-channel customer experiences, and saw strength in indoor as well as outdoor categories.

“Our team’s project expertise and commitment to customer service allowed us to capitalize on strong home improvement demand during the quarter, and I would like to thank them for their efforts,” Niblock added.

Delivering on its commitment to return excess cash to shareholders, the Company repurchased $1.2 billion of stock under its share repurchase program and paid $255 millionin dividends in the first quarter.

As of April 29, 2016, Lowe’s operated 1,860 home improvement and hardware stores in the United States, Canada and Mexico representing 202.3 million square feet of retail selling space.

A conference call to discuss first quarter 2016 operating results is scheduled for today (Wednesday, May 18) at 9:00 am ET.  The conference call will be available by webcast and can be accessed by visiting Lowe’s website at www.Lowes.com/investor and clicking on Lowe’s First Quarter 2016 Earnings Conference Call Webcast.  Supplemental slides will be available fifteen minutes prior to the start of the conference call. A replay of the call will be archived on Lowes.com/investor until August 16, 2016.

Lowe’s Business Outlook1

Fiscal Year 2016 — a 53-week Year (comparisons to fiscal year 2015 — a 52-week year; based on U.S. GAAP unless otherwise noted)

  • Total sales are expected to increase approximately 6 percent, including the 53rd week
  • The 53rd week is expected to increase total sales by approximately 1.5 percent
  • Comparable sales are expected to increase approximately 4 percent
  • The company expects to add approximately 45 home improvement and hardware stores.
  • Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 80 to 90 basis points.2
  • The effective income tax rate is expected to be approximately 38.1%.
  • Diluted earnings per share of approximately $4.11 are expected for the fiscal year endingFebruary 3, 2017.

1 Lowe’s Business Outlook excludes the impact of the pending RONA acquisition.

2 Operating margin growth excludes the unrealized gain on the foreign currency hedge entered into in advance of the Company’s pending RONA acquisition as well as the impact of the non-cash impairment charge the Company recognized in the fourth quarter of 2015 in connection with its decision to exit its joint venture with Woolworths Limited in Australia.

Disclosure Regarding Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including those regarding the proposed acquisition by Lowe’s Companies, Inc. of RONA, inc. and the expected impact of the transaction on Lowe’s strategic and operational plans and financial results.  Statements including words such as “may”, “will”, “could”, “should”, “would”, “plan”, “potential”, “intend”, “anticipate”, “believe”, “estimate” or “expect” and other words, terms and phrases of similar meaning are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Such forward-looking statements include, but are not limited to, statements or implications about the benefits of the transaction, including future financial and operating results, Lowe’s plans, objectives, expectations and intentions, expectations for sales growth, comparable sales, earnings and performance, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, Lowe’s strategic initiatives, any statement of an assumption underlying any of the foregoing and other statements that are not historical facts.  Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors which can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, such as a demographic shift from single family to multi-family housing, a reduced rate of growth in household formation, and  slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our traditional operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; and (ix) respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales. In addition, we could experience additional impairment losses if either the actual results of our operating stores are not consistent with the assumptions and judgments we have made in estimating future cash flows and determining asset fair values, or we are required to reduce the carrying amount of our investment in certain unconsolidated entities that are accounted for under the equity method. With respect to the transaction discussed herein specifically, potential risks include the possibility that the transaction will not close or that the closing may be delayed; the effect of the announcement of the transaction on Lowe’s and RONA’s strategic relationships, operating results and businesses generally; significant transaction costs or unknown liabilities; failure to realize the expected benefits of the transaction; and general economic conditions. For more information about these and other risks and uncertainties that we are exposed to, you should read the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” included in our most recent Annual Report on Form 10-K to the United States Securities and Exchange Commission (the “SEC”) and the description of material changes therein or updated version thereof, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC.

The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the “Risk Factors” included in our most recent Annual Report on Form 10-K to the SEC and the description of material changes, if any, therein included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC. We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events, or otherwise.

Lowe’s Companies, Inc.
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving over 16 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe’s has 1,860 home improvement and hardware stores and more than 270,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Contact

If you’re a journalist working on a story about Lowe’s: 704-758-2917
PublicRelations@lowes.com

Lowe’s Companies, Inc. to broadcast its first quarter 2016 earnings conference call on May 18, 2016

MOORESVILLE, N.C., 2016-May-12 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) first quarter 2016 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, May 18, 2016 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Rick D. Damron, chief operating officer; and Robert F. Hull, Jr., chief financial officer.  Supplemental slides will be available fifteen minutes prior to the start of the conference call.

What: First Quarter 2016 Earnings Conference Call Webcast
When: 9:00 a.m. Eastern Time on Wednesday, May 18, 2016
Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor
Click on Webcasts and then on Lowe’s First Quarter 2016 Earnings Conference Call
How: Listen live online and view the supplemental slides by following the directions above

A webcast replay of the call can be accessed from 12:00 p.m. ET on May 18, 2016 throughAugust 16, 2016 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s First Quarter 2016 Earnings Conference Call.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 16 million customers a week in the United States, Canada and Mexicothrough its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 1,855 home improvement and hardware stores and 270,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Lowe’s Companies releases its 2015 Corporate Social Responsibility (CSR) Report “Building Momentum”

MOORESVILLE, N.C., 2016-Apr-07 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today announced the release of its 2015 Corporate Social Responsibility (CSR) Report. Titled “Building Momentum,” the report shares an in-depth look at Lowe’s progress in meeting the needs of its customers, caring for its employees and communities, and responsibly managing its operations. The 2015 CSR report can be viewed on Lowe’s website.

“As a purpose-driven company, Lowe’s is committed to helping people love where they live. That’s the lens we use to do what’s right for customers and our communities,” Robert A. Niblock says in the report’s CEO Letter. “This report is a demonstration of that commitment. I’m proud of what we accomplished in 2015, and I’m looking forward to building on our momentum.”

Lowe’s continues to make improvements in important focus areas, including efforts to reduce waste, energy use and emissions, enhance workplace safety and diversity, improve product sustainability and grow charitable giving and employee volunteerism. For the second consecutive year, Lowe’s report contains standard disclosures from the Global Reporting Initiative (GRI) G4 guidelines – an internationally recognized framework for sustainability reporting – and a GRI index to enhance transparency and access to key data.

Lowe’s highlights from 2015 include:

  • Lowe’s and the Lowe’s Charitable and Educational Foundation gave more than $33 million in charitable contributions, and more than 43,000 Lowe’s Heroes employee volunteers donated their time and expertise to improve communities.
  • For the first time, every single Lowe’s store in the United States, more than 1,700 stores, participated in a Lowe’s Heroes volunteer project.
  • The company celebrated the 10-year anniversary of Lowe’s Toolbox for Education®. The program has awarded $48 million in grants, benefiting more than six million children and nearly 11,000 schools.
  • Focused on bringing better products to market and improving customer education, Lowe’s worked with suppliers to remove ortho-phthalate plasticizers from all residential vinyl flooring and committed to phase out the sale of products that contain neonic pesticides within 48 months to support pollinator health. Lowe’s also announced plans to eliminate window coverings with accessible cords that can form a hazardous loop from its in-stock assortment by the end of 2018.
  • To build a stronger leadership team, Lowe’s launched a mentoring program that pairs female and minority store managers with market directors to grow their leadership skills. Lowe’s also continued to build diversity through its recruiting efforts, attending more than 100 recruiting events to attract people with diverse backgrounds and ideas.
  • Lowe’s mobile health-screening units completed 111,792 free health screenings for employees, a 10 percent increase from 2014, and Lowe’s continued to build on the success of its cardiac surgery and hip and knee replacement programs. More than 200 employees received no-cost hip and knee replacements, and 84 employees received no-cost spine surgery, a new benefit Lowe’s launched in 2015.

To learn more about these activities, visit Lowes.com/SocialResponsibility. Feedback is welcome at SocialResponsibility@Lowes.com.

Download a PDF of the 2015 report

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 16 million customers a week in the United States, Canada and Mexicothrough its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 1,855 home improvement and hardware stores and 270,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Contact

If you’re a journalist working on a story about Lowe’s:
704-758-2917
PublicRelations@lowes.com

SOURCE Lowe’s Companies, Inc.

Lowe’s Companies, Inc. declares quarterly cash dividend of twenty eight cents ($0.28) per share

MOORESVILLE, N.C., 2016-Mar-22 — /EPR Retail News/ — The Board of Directors for Lowe’s Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of twenty eight cents($0.28) per share, payable May 4, 2016, to shareholders of record as of April 20, 2016.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 16 million customers a week in the United States, Canada and Mexicothrough its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 1,855 home improvement and hardware stores and 270,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Contact

If you’re a journalist working on a story about Lowe’s:704-758-2917 PublicRelations@lowes.com

Lowe’s Companies, Inc. to webcast its fourth quarter 2015 earnings on February 24, 2016

MOORESVILLE, N.C., 2016-Feb-18 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) fourth quarter 2015 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, February 24, 2016 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Michael A. Jones, chief customer officer; and Robert F. Hull, Jr., chief financial officer.  Supplemental slides will be available fifteen minutes prior to the start of the conference call.

What: Fourth Quarter 2015 Earnings Conference Call Webcast
When: 9:00 a.m. Eastern Time on Wednesday, February 24, 2016
Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor

Click on Webcasts and then on Lowe’s Fourth Quarter 2015 Earnings Conference Call

How: Listen live online and view the supplemental slides by following the directions above

A webcast replay of the call can be accessed from 12:00 p.m. ET on February 24, 2016through May 17, 2016 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Fourth Quarter 2015 Earnings Conference Call.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada andMexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe’s has more than 1,845 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Contact

If you’re a journalist working on a story about Lowe’s:
704-758-2917
PublicRelations@lowes.com

Lowe’s Companies, Inc. announces net earnings of $736 million for the quarter ended October 30, 2015; 25.8% increase YoY

MOORESVILLE, N.C., 2015-11-19 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $736 million for the quarter ended October 30, 2015, a 25.8 percent increase over the same period a year ago. Diluted earnings per share increased 35.6 percent to $0.80 from $0.59 in the third quarter of 2014. For the nine months endedOctober 30, 2015, net earnings increased 12.8 percent from the same period a year ago to$2.5 billion, and diluted earnings per share increased 20.5 percent to $2.70.

Sales for the third quarter increased 5.0 percent to $14.4 billion from $13.7 billion in the third quarter of 2014, and comparable sales increased 4.6 percent. For the nine month period, sales were $45.8 billion, a 4.9 percent increase over the same period a year ago, and comparable sales increased 4.6 percent. Comparable sales for the U.S. home improvement business increased 5.0 percent for the third quarter and 4.9 percent for the nine month period.

“This is an exciting time for Lowe’s as we continue to execute our strategic priorities alongside a favorable macroeconomic backdrop,” commented Robert A. Niblock, Lowe’s chairman, president and CEO.  “I am pleased that we delivered another solid quarter.  Comparable sales growth was driven by gains in both transactions and average ticket, while our focus on productivity and profitability also allowed us to deliver strong earnings per share growth.”

“I would like to thank our employees for their purposeful commitment to serving customers, particularly those who worked diligently to assist our neighbors that were impacted by the historic flooding in South Carolina,” Niblock added.

Delivering on its commitment to return excess cash to shareholders, the company repurchased $750 million of stock under its share repurchase program and paid $260 million in dividends in the third quarter. For the nine month period, the company repurchased $3.3 billion of stock under its share repurchase program and paid $700 million in dividends.

As of October 30, 2015, Lowe’s operated 1,849 home improvement and hardware stores inthe United States, Canada and Mexico representing 201.6 million square feet of retail selling space.

A conference call to discuss third quarter 2015 operating results is scheduled for today (Wednesday, November 18) at 9:00 am ET.  The conference call will be available by webcast and can be accessed by visiting Lowe’s website at www.Lowes.com/investor and clicking on Lowe’s Third Quarter 2015 Earnings Conference Call Webcast.  Supplemental slides will be available fifteen minutes prior to the start of the conference call. A replay of the call will be archived on Lowes.com/investor until February 23, 2016.

Lowe’s Business Outlook

Fiscal Year 2015 (comparisons to fiscal year 2014; based on U.S. GAAP unless otherwise noted)

  • Total sales are expected to increase 4.5 to 5 percent.
  • Comparable sales are expected to increase 4 to 4.5 percent.
  • The company expects to add 15 to 20 home improvement and hardware stores.
  • Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 80 to 100 basis points.
  • The effective income tax rate is expected to be approximately 38.1%.
  • Diluted earnings per share of approximately $3.29 are expected for the fiscal year endingJanuary 29, 2016.

Disclosure Regarding Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which the words “believe,” “expect,” “anticipate,” “project,” “will,” “should,” “could,” and similar expressions are intended to imply. Statements of the company’s expectations for sales growth, comparable sales, earnings and performance, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, the Company’s strategic initiatives and any statement of an assumption underlying any of the foregoing, constitute “forward-looking statements” under the Act.   Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the  rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors which can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, such as a demographic shift from single family to multi-family housing, a reduced rate of growth in household formation, and  slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives and  enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our traditional operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; and (ix) respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales. In addition, we could experience additional impairment losses if either the actual results of our operating stores are not consistent with the assumptions and judgments we have made in estimating future cash flows and determining asset fair values, or we are required to reduce the carrying amount of our investment in certain unconsolidated entities that are accounted for under the equity method. For more information about these and other risks and uncertainties that we are exposed to, you should read the “Risk Factors” and “Critical Accounting Policies and Estimates” included in our Annual Report on Form 10-K to the United States Securities and Exchange Commission (the “SEC”) and the description of material changes therein or updated version thereof, if any, included in our Quarterly Reports on Form 10-Q.

The forward-looking statements contained in this news release are based upon data available as of the date of this release or other specified date and speak only as of such date.  All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and the “Risk Factors” included in our Annual Report on Form 10-K to the SEC and the description of material changes, if any, therein included in our Quarterly Reports on Form 10-Q.  We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events, or otherwise.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada andMexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe’s has more than 1,845 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Contact

If you’re a journalist working on a story about Lowe’s:
704-758-2917
PublicRelations@lowes.com

For customer inquiries:1-800-445-6937

SOURCE: SOURCE Lowe’s Companies, Inc.

 

Bertram L. Scott appointed at Lowe’s Companies, Inc. board of directors

MOORESVILLE, N.C., 2015-11-15 — /EPR Retail News/ — At its meeting today, the board of directors of Lowe’s Companies, Inc. (NYSE: LOW) appointed Bertram L. Scott, 65, to the board, effective immediately.  Today’s announcement brings Lowe’s board of directors to 12 members, 11 of whom are independent.

Scott brings to the board a wealth of senior leadership experience, having served as senior vice president of Population Health and Value Based Care at Novant Health since 2015 and as president, CEO and director of the Affinity Health Plan from 2012 to 2014.  Scott was president, U.S. Commercial of CIGNA Corporation and served as executive vice president of TIAA-CREF for ten years and as president and CEO of TIAA-CREF Life Insurance Company from 2000 to 2007.  He presently serves on the boards of Becton, Dickinson and Company and AXA Financial, Inc.

“With his leadership, strategy and integration experience, Bertram will provide valuable perspective as Lowe’s continues to transition from a home improvement retailer to an omni-channel home improvement company,” said Robert A. Niblock, Lowe’s chairman, president and CEO.

Scott will serve on the Audit and Governance committees.  He will stand for election at Lowe’s 2016 annual meeting of shareholders.

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada andMexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe’s has more than 1,845 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

 

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Bertram L. Scott appointed at Lowe’s Companies, Inc. board of directors

Bertram L. Scott appointed at Lowe’s Companies, Inc. board of directors

Lowe’s Companies, Inc. to sell approximately $1.7 billion notes

MOORESVILLE, N.C., 2015-9-11 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $250 million of Floating Rate Notes due 2018, $750 million of 3.375% Notes due 2025 and $750 million of 4.375% Notes due 2045. Estimated net proceeds from this offering will be approximately $1.7 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s intends to use the net proceeds from the sale of the Notes for the repayment of $500 million aggregate principal amount at maturity of its 5.000% Notes due October 15, 2015 and for other general corporate purposes. Closing is expected to occur on September 16, 2015.

J.P. Morgan, BofA Merrill Lynch and SunTrust Robinson Humphrey are acting as joint book-running managers for the notes offering. This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release is not an offer to sell or a solicitation of an offer to buy these securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from J.P. Morgan,  Attention: Investment Grade Syndicate Desk, 383 Madison Ave., New York, NY10179, Telephone: (212) 834-4533; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 11th Floor, New York, NY 10038, Telephone: (800) 294-1322, Email: dg.prospectus_requests@baml.com; or SunTrust Robinson Humphrey,  Attention: Prospectus Department, 303 Peachtree Street, Atlanta, GA 30308, Telephone: (800) 685-4786.

Disclosure Regarding Forward-Looking Statements

Included herein are forward-looking statements, including statements with respect to an anticipated financing. There are many factors that affect management’s views about future events and trends of the business and operations of the company, including changes to the economy and the market for the offering, all as more thoroughly described in the prospectus and related prospectus supplement and the company’s filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada andMexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe’s has more than 1,845 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

SOURCE Lowe’s Companies, Inc.

Lowe’s Companies released its 2014 Corporate Social Responsibility (CSR) Report

Lowe’s enhances companywide improvement efforts and expands reporting to align with GRI

MOORESVILLE, N.C., 2015-4-13 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today announced the release of its 2014 Corporate Social Responsibility (CSR) Report, providing an expanded and enhanced review of Lowe’s sustainability objectives and the company’s progress during the past year. The 2014 CSR report can be viewed on Lowe’s website.

The report outlines the company’s shared approach to meeting the needs of its customers, employees, communities and the environment while addressing key topics that are important to its business, stakeholders and society.

“At Lowe’s, we’re driven by a single purpose – to help people love where they live,” Robert A. Niblock says in the report’s CEO Message. “This is a constant commitment that we approach together with the help of more than 265,000 employees. We’re proud of our progress in 2014 and will continue to work hard to improve as we carry out our shared responsibility every day in our workplace and communities.”

The report details improvements Lowe’s achieved in important focus areas, including the health, safety and engagement of employees, the company’s progress against its 2020 sustainability goals and its collaboration with suppliers to maintain the highest ethical standards and improve the products it sells. For the first time, Lowe’s referred to the Global Reporting Initiative (GRI) G4 guidelines to compile the report and included an index of standard disclosures to enhance transparency and offer easy access to key data.

Lowe’s highlights from 2014 include:

  • Lowe’s and the Lowe’s Charitable and Educational Foundation gave $28 million to community organizations, and more than 41,000 Lowe’s Heroes employee volunteersdonated their time and expertise to improve communities.
  • Lowe’s continued to reduce employee incidents across its operations. The average Lost Time Incident Rateat Lowe’s stores and distribution centers per 200,000 hours was 2.07, a 21 percent improvement since Lowe’s 2012 baseline year and a new company record.
  • For the first time in Lowe’s annual Employee Opinion Survey, its U.S. stores, distribution centers and customer support centers all reached the company’s benchmark engagement goal of 65 percent, indicating a highly engaged workforce. CareerBliss recognized Lowe’s as one of the 10 happiest retailers to work for in 2014.
  • The company launched new fleets of natural-gas powered trucks at five regional distribution centers, reaching its goal of serving at least 20 percent of its stores with natural gas trucks by the end of 2014. Lowe’s also became the only retail shipping partner ever to receive six EPA SmartWay® awards for superior environmental performance in supply chain operations.
  • Lowe’s sold enough Energy Star® products in 2014 to save customers approximately $2.4 billion in utility costs over the lifetime of the products and eliminate greenhouse gases equivalent to the emissions from nearly 2.9 million cars.

Lowe’s commitments for 2015 include:

  • Building on the success of its cardiac surgery and hip and knee replacement programs, Lowe’s launched a no-cost spine surgery benefit for employees this year in collaboration with three U.S. facilities designated as Centers of Excellence because of their high quality of care and patient satisfaction. The initiative is open to all Lowe’s employees enrolled in the company’s self-funded health plans and includes full reimbursement of associated travel for the patient and a companion.
  • Lowe’s is committed to regularly reviewing the products and information it offers customers. Following studies that say many factors, including neonicotinoid pesticides, could potentially damage the health of pollinators, Lowe’s has committed to take several steps to support pollinator health. Lowe’s will phase out the sale of products that contain neonic pesticides within 48 months as suitable alternatives become commercially available. Lowe’s will include greater organic and non-neonic product selections, work with growers to eliminate the use of neonic pesticides on bee-attractive plants it sells and educate customers and employees through in-store and online resources.
  • Lowe’s introduced a program in 2014 to develop its pipeline of women leaders, pairing vice presidents with women store managers to develop and expand Lowe’s leadership team. This year, the company will leverage the program with a new group of store managers and launch a new mentoring program to pair women and minority store managers with market directors whose expertise will support leadership development.

To learn more about these activities, visit Lowes.com/SocialResponsibility. Feedback is welcome at SocialResponsibility@Lowes.com.

Download a PDF of the 2014 report

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 16 million customers a week in the United States, Canada and Mexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe’s has 1,840 home improvement and hardware stores and more than 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Contact

If you’re a journalist working on a story about Lowe’s:
704-758-2917

PublicRelations@lowes.com

For customer inquiries:
1-800-445-6937

Lowe’s Companies, Inc. announces the appointment of Ross W. (Bill) McCanless as general counsel, secretary and chief compliance officer

MOORESVILLE, N.C., 2014-11-21 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today that Ross W. (Bill) McCanless will be joining the company as general counsel, secretary and chief compliance officer, effective January 12, 2015. McCanless will replace Gaither M. Keener, who announced plans to retire from the company following 30 years of service.

McCanless is returning to Lowe’s top legal role, a position he held from 2003 to 2006, after serving as chief legal officer, general counsel and secretary for Extended Stay America, Inc. and ESH Hospitality, Inc.—two NYSE-listed companies that own more than 650 extended stay hotels in the U.S. and Canada. In his new role, McCanless will be responsible for directing all legal matters for Lowe’s and its subsidiaries as well as advising the chairman and board of directors on corporate governance matters.

“We are pleased to welcome Bill back to Lowe’s,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “His combined legal and retail executive management experience is a great asset, and he already knows our company and culture well, having worked previously with many on our leadership team. We look forward to his return.”

McCanless Background

In addition to his previous legal experience, McCanless served in a number of executive management positions with Delhaize/Food Lion, including SVP, general counsel, secretary and chief administrative officer. He served as Delhaize America’s president and CEO (from 1999 until 2002) as well as CEO of the Food Lion subsidiary during the same tenure.  Prior to joining Food Lion, he spent seven years in private law practice in Salisbury, N.C.McCanless has a bachelor’s degree in accounting from the University of North Carolina-Charlotte and earned his juris doctor degree from Wake Forest University School of Law.  He presently serves on the board of directors for Kewaunee Scientific Corporation.

Keener Background

Gaither Keener began his career at Lowe’s in 1985 as corporate counsel after serving as a member of a private law firm for which Lowe’s was a client. He served as chief legal officer, chief compliance officer and secretary since 2006. Keener has served on the board of directors of the Lowe’s Charitable and Educational Foundation since 2005. He served inthe United States Marine Corps, has a bachelor’s degree from Western Carolina University, and a juris doctor degree from Wake Forest University Law School.

“Gaither will surely be missed. We have benefited from both his legal expertise and creative solutions as he advised the company and our board of directors over the years,” Niblock added.  “We wish him the best in his well-earned retirement.”

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 15 million customers a week in the United States, Canada andMexico. With fiscal year 2013 sales of $53.4 billion, Lowe’s has more than 1,835 home improvement and hardware stores and 260,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Contact

If you’re a journalist working on a story about Lowe’s:704-758-2917PublicRelations@lowes.com

For customer inquiries:1-800-445-6937

Lowe’s Companies, Inc. named 3M, Stainmaster and Truper as the company’s 2014 Vendor Partners of the Year

MTD Awarded Overall Innovation Partner of the Year

MOORESVILLE, N.C., 2014-11-4— /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today it has named 3M, Stainmaster and Truper as the company’s 2014 Vendor Partners of the Year. The companies were selected for their commitment to product quality, innovation and customer service. Lowe’s also announced it honored MTD with the 2014 Innovation Partner of the Year award. Each year, the award recognizes a breakthrough innovation that helps consumers realize their home improvement goals.

MTD, a worldwide leader in outdoor power equipment, used collaboration and customer insights to develop the most innovative blower to hit the market in years, the Troy-Bilt JET Leaf Blower. The blower features Air Amplified Technology™ with an innovative mixed-flow fan design, which creates an industry-leading 650 CFM of air volume, giving the customer more control over debris.

“In merchandising, we know that success is built on a foundation of quality, innovation and commitment,” said Mike McDermott, Lowe’s chief merchandising officer. “Each of the vendors honored today embody these characteristics, and it shows in the quality of their products, the innovation they deliver to customers and their unwavering commitment to their partnership with Lowe’s.”

In addition to MTD, the vendor partners who set the bar highest in innovation in 2014 included:

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 15 million customers a week in the United States, Canada and Mexico. With fiscal year 2013 sales of $53.4 billion, Lowe’s has more than 1,830 home improvement and hardware stores and 260,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

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