Lowe’s Companies, Inc. to host Q4 2017 earnings conference call on Wednesday, February 28, 2018

MOORESVILLE, N.C., 2018-Feb-22 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) fourth quarter 2017 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, February 28, 2018 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Richard D. Maltsbarger, 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: Fourth Quarter 2017 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Wednesday, February 28, 2018

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

Click on Webcasts and then on Lowe’s Fourth 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 February 28, 2018 through May 22, 2018 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Fourth 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 States, Canada 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

SOURCE: Lowe’s Companies, Inc.

Lowe’s welcomes David H. Batchelder, Brian C. Rogers and Lisa W. Wardell as new independent directors

MOORESVILLE, N.C., 2018-Jan-22 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today that it has appointed David H. Batchelder, co-founder of Relational Investors, and Lisa W. Wardell, CEO of Adtalem Global Education, to its board of directors effective March 22, 2018.  The company will nominate Batchelder, Wardell and new nominee Brian C. Rogers, chairman of T. Rowe Price Group and its former chief investment officer, for election at Lowe’s 2018 Annual Meeting of Shareholders.

“We are pleased to welcome David, Brian and Lisa as new independent directors to the Lowe’s board and especially value the constructive discussions we have had with the D. E. Shaw group,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “They join Lowe’s at an exciting time as we continue to drive our omni-channel strategy forward and build deeper relationships with pro customers to fulfill our purpose of helping people love where they live. The addition of these directors complements our board of directors’ skills and experiences, and we are confident they will provide valuable perspectives as we continue to execute our strategy, drive profitability and enhance value for all Lowe’s shareholders. We look forward to their contributions and are excited they chose Lowe’s.”

Lowe’s Board regularly evaluates its composition to ensure it includes the appropriate skills, experience and perspective necessary to drive growth for all Lowe’s shareholders, and with these director additions, eight directors will have joined Lowe’s actively engaged board in the past five years.

“We appreciate Lowe’s collaborative approach and are pleased to have worked together to enhance the company’s board of directors,” said Quentin Koffey, a portfolio manager at the D. E. Shaw group. “Lowe’s is an excellent company with tremendous value creation opportunities in front of it, and we believe the new directors will be significant assets to the board.  We believe the refreshed board and the management team are committed to achieving outstanding performance and maximizing shareholder value.”

Batchelder will serve for the duration of his time as a director on the board’s compensation committee, chaired by Eric C. Wiseman, former chairman and CEO of VF Corporation, and the nominating and governance committee, chaired by Lowe’s Lead Director Marshall O. Larsen, former chairman and CEO of Goodrich Corporation.

Wardell will serve on the board’s audit committee, chaired by Raul Alvarez, chairman of Skylark Co., and the public policy committee, chaired by Angela F. Braly, former chair and CEO of WellPoint, Inc.

Rogers’ committee appointments will be determined immediately following his election to the board at the 2018 Annual Meeting of Shareholders.

Lowe’s other independent directors consist of Sandra B. Cochran, president and CEO of Cracker Barrel Old Country Stores; Laurie Z. Douglas, chief information officer and chief security officer of Publix Supermarkets; Richard W. Dreiling, retired chairman and CEO of Dollar General Corporation; Robert L. Johnson, founder and chairman of the RLJ Companies; James H. Morgan, retired chairman and CEO of Krispy Kreme Doughnuts; and Bertram L. Scott, senior vice president of Population Health and Value Based Care at Novant Health.

As previously planned under the board’s mandatory retirement policy, Robert L. Johnson will not stand for re-election at the 2018 Annual Meeting of Shareholders. Following Johnson’s retirement, the Lowe’s board will be composed of 13 directors, 12 of whom are independent.

About David H. Batchelder

Batchelder, 68, was a founder, principal and member of the investment committee at Relational Investors LLC from 1988 to 2015. Prior to that, he served in various executive positions at Mesa Petroleum Co., including as president and chief operating officer from 1986 to 1988. Batchelder served on several other public company boards, including The Home Depot from 2007 to 2011, ConAgra Foods from 2002 to 2007 and Mac Frugal’s Bargains Close-Outs Inc. from 1990 to 1997. He received a bachelor’s degree in accounting from Oklahoma State University.

About Brian C. Rogers

Rogers, 62, serves as non-executive chair of T. Rowe Price Group, Inc., having retired as chief investment officer of the company in March 2017. He was elected to the T. Rowe Price board of directors in 1997 and was named board chair in 2007. As a member of the board, he has served on the U.S. equity steering, fixed income steering, international equity steering, product strategy steering, and management compensation committees, as well as the proxy committee. He joined T. Rowe Price in 1982 and served in several roles including chief investment officer from 2004 to 2017 and president of two T. Rowe Price funds. Prior to joining T. Rowe Price, Rogers worked at Bankers Trust Company. Rogers earned a bachelor’s degree from Harvard College and an MBA from Harvard Business School. Rogers is in the process of receiving the necessary consents from his other boards with respect to his joining Lowe’s as a board member.

About Lisa W. Wardell

Wardell, 48, currently serves as president and chief executive officer of Adtalem Global Education, a role she has held since 2016. Wardell has been a member of Adtalem’s board of directors since 2008 and has chaired its audit committee. Prior to her current position, she served as executive vice president and chief operating officer for The RLJ Companies for a total of 12 years, and as principal at the private equity firm Katalyst Venture Partners for four years. From 1998 to 2000, Wardell worked as a senior consultant for Accenture in the organization’s communications and technology strategic services practice. Wardell earned her bachelor’s degree from Vassar College, her law degree from Stanford Law School and her master’s degree in finance and entrepreneurial management from the Wharton School of Business. Wardell is a member of The Business Council and the Executive Leadership Council. Among numerous recognitions, she was recently named to Savoy Magazine’s Power 300: Most Influential Black Corporate Directors list (2017 and 2016) and has been recognized by Black Enterprise magazine as one of the “300 Most Powerful Executives in Corporate America” (2017).

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 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.

 

Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, priorities, 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, including those relating to acquisitions by Lowe’s and the expected impact of such transactions on our strategic and operational plans and financial results, and 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, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

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 that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, 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 focused on omni-channel sales and marketing presence and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches, ransomware 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; (ix) positively and effectively manage our public image and reputation and 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; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience 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. With respect to acquisitions, potential risks include the effect of such transactions on Lowe’s and the target company’s strategic relationships, operating results and businesses generally; our ability to integrate personnel, labor models, financial, IT and others systems successfully; disruption of our ongoing business and distraction of management; hiring additional management and other critical personnel; increasing the scope, geographic diversity and complexity of our operations; significant integration costs or unknown liabilities; and failure to realize the expected benefits of the transaction. 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 filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, 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. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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 and the description of material changes thereto, if any, 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, except as may be required by law.

SOURCE: Lowe’s

Media Inquiries

704-758-2917
PublicRelations@Lowes.com

Lowe’s announces the appointment of Sylvain Prud’homme as president, international

Prud’homme also retains role as President and CEO of Lowe’s Canada

Mooresville, N.C., 2017-Dec-07 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (12/06/2017) announced that Sylvain Prud’homme has been appointed president, international, effective Dec. 15. He will report to Chairman, President & CEO Robert A. Niblock and will remain based in Boucherville, Quebec. Prud’homme will continue to serve as president and CEO of Lowe’s Canada and add responsibilities for the Mexico business, with the president of Lowe’s Mexico now reporting to him. This appointment follows the announcement that Richard D. Maltsbarger will be transitioning to chief operating officer of the U.S. business in February.

“Sylvain’s outstanding operational leadership has been instrumental in growing the company into one of the leading home improvement retailers in Canada,” said Niblock. “We continue to be pleased with the integration of RONA and believe we are well positioned for continued success in Canada.”

Niblock added, “Sylvain has more than three decades of experience in the retail industry and we feel confident that he will continue to drive operational excellence for our operations in Canada and Mexico.”

Prud’homme joined as president of Lowe’s Canada in 2013 and, following the acquisition of RONA in 2016, was named president and CEO of Lowe’s Canada. He is responsible for driving the Canadian home improvement business for Lowe’s, including RONA’s network of stores and independent dealers operating under other banners.

“I’m honored to lead strong leadership teams in both Canada and Mexico and continue building on the positive momentum and growth in these operations over the past several years,” said Prud’homme.

Prior to Lowe’s Canada, Prud’homme served as executive vice president of operations and merchandising for Loblaw Companies Limited. He was also president of western operations for Sobeys Inc. and spent several years as senior vice president of operations and merchandising for Walmart Canada.

Prud’homme earned an MBA from the HEC Montreal business school. He is a member of the board of directors for the Retail Council of Canada.

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 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.

Canada Media Inqueries:

Valérie Gonzalo
Media Relations
Lowe’s Canada – RONA
514.626.6976
media@rona.ca

Shareholders’/Analysts’ Inquiries:

Tiffany Mason
Lowe’s Companies, Inc.
704-758-2033
tiffany.l.mason@lowes.com

Source: Lowe’s Companies, Inc.

Lowe’s: Richard D. Maltsbarger to succeed Rick D. Damron as chief operating officer

Lowe’s: Richard D. Maltsbarger to succeed Rick D. Damron as chief operating officer

 

MOORESVILLE, N.C., 2017-Nov-22 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today (November 21, 2017) that Richard D. Maltsbarger, Lowe’s chief development officer and president, international, has been appointed chief operating officer, effective Feb. 3, 2018, and will continue to report to Robert A. Niblock, chairman, president and CEO. Maltsbarger succeeds Rick D. Damron who plans to retire after 36 years with the company. Damron has served as chief operating officer since 2012.

In his new role, Maltsbarger, 42, will be responsible for delivering seamless omni-channel experiences to execute Lowe’s brand promise and build lasting customer loyalty. He will oversee areas including store operations, supply chain, pro and services, while also working closely with Michael P. McDermott, chief customer officer, to further enhance our omni-channel customer experience. A strong business leader, Maltsbarger has led Lowe’s international operations since 2015 and has a deep background in developing and executing strategy based on customer insights.

Niblock said, “Richard is a proven leader with a keen understanding of our business and industry. He brings vast consumer knowledge from various roles within Lowe’s and has been instrumental in the development and implementation of our strategy. We are confident that in this new role, Richard will continue to enhance our capabilities and processes as we execute our plans and meet customers’ rapidly evolving expectations.”

Niblock added, “On behalf of the board and management team, I want to thank Rick for his innumerable contributions to Lowe’s over his distinguished career during the past three decades. Rick has worked across every aspect of our operations, and his ideas and initiatives have positively impacted Lowe’s employees and customers. We wish him all the best in his retirement.”

Damron stated, “I have a great deal of admiration and respect for the Lowe’s organization and management team and look forward to working with Richard to ensure a smooth transition. Lowe’s is well positioned for continued success, and I have the utmost confidence in our employees and the company’s long-term growth opportunities.”

Maltsbarger Background

Maltsbarger was named chief development officer in 2014 and president, international in 2015. In his current role, Maltsbarger is responsible for corporate strategy, business development and international operations. Maltsbarger joined Lowe’s in 2004 as director of customer analytics and held various senior leadership roles including business development executive, senior vice president of strategy, vice president of strategic planning and vice president of research. Maltsbarger earned his bachelor’s and master’s degrees in agricultural economics from the University of Missouri and an MBA from Washington University in St. Louis.

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

Follow Us on Twitter
@LowesMedia

Source: Lowe’s Companies, Inc.

###

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

Follow Us on Twitter
@LowesMedia

SOURCE: Lowe’s Companies, Inc.

Lowe’s supports Hurricane Irma disaster relief and recovery efforts with $1 million donation

Mooresville, NC, 2017-Sep-12 — /EPR Retail News/ — Lowe’s announced a commitment of at least $1 million to support disaster relief and recovery efforts through cash and product donations as Hurricane Irma struck communities in Florida, Georgia and South Carolina. The latest donation brings Lowe’s total contribution to disaster relief this year to more than $2 million following the major flooding and damage caused by Hurricane Harvey. Lowe’s is working with nonprofit partners and government agencies to determine immediate and long-term support needed by local communities.

Lowe’s has also expanded its American Red Cross customer donation program from stores in Texas to all stores nationwide to provide a convenient place for customers to support those affected by the storms. Customers can also contribute to the American Red Cross online through a link on Lowes.com.

“Lowe’s makes it a priority to be there for families in our communities before, during and after natural disasters strike,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “I’m thankful to our employees for their tireless efforts to help neighborhoods prepare for storms like Harvey and Irma and proud of their passion and commitment to helping communities rebuild after these historic storms.”

Lowe’s Emergency Command Center continues to expedite thousands of truckloads of needed clean-up and recovery supplies to Lowe’s stores impacted by the storms, including bottled water, gas cans, chainsaws, water removal equipment, insect repellent, shovels, rakes and other tools.

Lowe’s employs more than 23,000 people in Texas and more than 19,000 in Florida. Additional specially trained Lowe’s employees will travel to the hardest-hit locations to provide relief to impacted employees while ensuring stores are ready to serve customers. Lowe’s is also supporting affected employees through its Employee Relief Fund which provides financial assistance in times of crisis. Lowe’s has doubled its match of employee contributions to the fund following Hurricane Harvey. Since it was established in 1999, the fund has helped approximately 26,000 employees by providing more than $29 million in financial aid.

Thus far, Lowe’s has donated 25,000 buckets of clean up supplies to be distributed in Houston, and Lowe’s Heroes volunteers have helped with hands-on relief efforts in Texas communities affected by the hurricane. Volunteers will provide similar support to recovery efforts for communities impacted by Hurricane Irma in the coming weeks as the needs are identified.

About Lowe’s
Lowe’s, a FORTUNE® 50 home improvement company, has a 60-year legacy of supporting the communities it serves through programs that focus on K-12 public education and community improvement projects. In the past decade, Lowe’s and the Lowe’s Charitable and Educational Foundation together have contributed nearly $300 million to these efforts, and for more than two decades Lowe’s Heroes volunteers have donated their time to make our communities better places to live. For the latest news, visit Newsroom.Lowes.com or follow @LowesMedia on Twitter.

SOURCE: Lowe’s

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

Lowe’s Q2 2017 results: net earnings of $1.4 billion and diluted earnings per share of $1.68

MOORESVILLE, N.C., 2017-Aug-24 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (Aug. 23, 2017) reported net earnings of $1.4 billion and diluted earnings per share of $1.68 for the quarter ended August 4, 2017, compared to net earnings of $1.2 billion and diluted earnings per share of $1.31 in the second quarter of 2016.

The second quarter results included a $96 million gain from the sale of the company’s interest in its Australian joint venture.  Excluding the gain, adjusted diluted earnings per share1 increased 14.6 percent to $1.57 from adjusted diluted earnings per share1 of $1.37 in the second quarter of 2016.

For the six months ended August 4, 2017, net earnings were $2.0 billion and diluted earnings per share were $2.37 compared to net earnings of $2.1 billion and diluted earnings per share of $2.29 in the same period a year ago.  Excluding the gain from the joint venture described above and the loss on extinguishment of debt in the first quarter of 2017, adjusted diluted earnings per share1 increased 15.6 percent to $2.59 from adjusted diluted earnings per share1 of $2.24 in the same period a year ago.

Sales for the second quarter increased 6.8 percent to $19.5 billion from $18.3 billion in the second quarter of 2016, and comparable sales increased 4.5 percent. For the six month period, sales increased 8.5 percent to $36.4 billion over the same period a year ago, and comparable sales increased 3.3 percent. Comparable sales for the U.S. home improvement business increased 4.6 percent for the second quarter and 3.4 percent for the six-month period.

“We are pleased with our improved comparable sales performance relative to last quarter, and the strong momentum we built throughout the second quarter culminating in a 7.9% comparable sales increase for the month of July,” commented Robert A. Niblock, Lowe’s chairman, president and CEO.  “I would like to thank our employees for their passion and commitment to serving customers.

“While our results were below our expectations in the first half of this year, the team remains focused on making the necessary investments to improve the customer experience and drive sales.  This includes amplifying our consumer messaging and incremental customer-facing hours in our stores which will put pressure on our operating margin.  We believe this is the right strategy to more fully capitalize on strong traffic trends in what we believe is a supportive macroeconomic backdrop for home improvement,” Niblock added.

Delivering on its commitment to return excess cash to shareholders, the company repurchased $1.25 billion of stock under its share repurchase program and paid $299 million in dividends in the second quarter.

As of August 4, 2017, Lowe’s operated 2,141 home improvement and hardware stores in the United States, Canada and Mexico representing 214.1 million square feet of retail selling space.

A conference call to discuss second quarter 2017 operating results is scheduled for today (Wednesday, August 23) 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 Second Quarter 2017 Earnings Conference Call Webcast.  Supplemental slides will be available 15 minutes prior to the start of the conference call. A replay of the call will be archived on Lowes.com/investor until November 20, 2017.

Lowe’s Business Outlook

Fiscal Year 2017 — a 52-week Year (comparisons to fiscal year 2016 — a 53-week year; based on U.S. GAAP)

  • Total sales are expected to increase approximately 5 percent
  • Comparable sales are expected to increase approximately 3.5 percent
  • The company expects to add approximately 25 home improvement and hardware stores.
  • Operating income as a percentage of sales (operating margin) is expected to increase 80 to 100 basis points.2
  • The effective income tax rate is expected to be 36.9%.
  • Diluted earnings per share of $4.20 to $4.30 are expected for the fiscal year ending February 2, 2018; reflective of the loss on extinguishment of debt and the gain from the sale of the company’s interest in its Australian joint venture.

1 Adjusted diluted earnings per share is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measures Reconciliation” section of this release for additional information as well as reconciliations between the Company’s GAAP and non-GAAP financial results.

2 Includes the 12 basis points benefit of the net gain on the settlement of the foreign currency hedge entered into in advance of the company’s acquisition of RONA (1Q 2016 and 2Q 2016), the 44 basis points impact of the non-cash charge associated with the joint venture with Woolworths in Australia (3Q 2016), the 15 basis points impact of project write-offs that were a part of the ongoing review of the company’s strategic initiatives (3Q 2016), the 12 basis points impact of goodwill and long-lived asset impairment charges associated with the company’s Orchard Supply Hardware operations (3Q 2016), as well as the 13 basis points impact of severance-related costs associated with the company’s productivity efforts (4Q 2016).

Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, priorities, 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, including those relating to acquisitions by Lowe’s and the expected impact of such transactions on our strategic and operational plans and financial results, and 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, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

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 that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, 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 focused on omni-channel sales and marketing presence and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches, ransomware 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; (ix) positively and effectively manage our public image and reputation and 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; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience 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. With respect to acquisitions, potential risks include the effect of such transactions on Lowe’s and the target company’s strategic relationships, operating results and businesses generally; our ability to integrate personnel, labor models, financial, IT and others systems successfully; disruption of our ongoing business and distraction of management; hiring additional management and other critical personnel; increasing the scope, geographic diversity and complexity of our operations; significant integration costs or unknown liabilities; and failure to realize the expected benefits of the transaction. 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 filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, 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. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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 and the description of material changes thereto, if any, 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, except as may be required by law.

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 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:
Tel: 704-758-2917
mailto:PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

Lowe’s Companies, Inc. to host Q2 2017 conference call on August 23, 2017

MOORESVILLE, N.C., 2017-Aug-17 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) second quarter 2017 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, August 23, 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: Second Quarter 2017 Earnings Conference Call Webcast
When: 9:00 a.m. Eastern Time on Wednesday, August 23, 2017
Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor

Click on Webcasts and then on Lowe’s Second 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 August 23, 2017 throughNovember 20, 2017 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Second 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 States, Canada 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

SOURCE: Lowe’s Companies, Inc.

Lowe’s reports net earnings of $602 million and diluted earnings per share of $0.70 for 1Q 2017

MOORESVILLE, N.C., 2017-May-27 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (May 24, 2017) reported net earnings of $602 million and diluted earnings per share of $0.70 for the quarter ended May 5, 2017, compared to net earnings of $884 million and diluted earnings per share of $0.98 in the first quarter of 2016.

The first quarter results included a $464 million pre-tax loss on extinguishment of debt in connection with the company’s previously announced $1.6 billion cash tender offer.

Excluding the loss on extinguishment of debt, adjusted diluted earnings per share1 increased 18.4 percent to $1.03 from adjusted diluted earnings per share1 of $0.87 in the first quarter of 2016.

Sales for the first quarter increased 10.7 percent to $16.9 billion from $15.2 billion in the first quarter of 2016, and comparable sales increased 1.9 percent. Comparable sales for the U.S. business increased 2.0 percent.

“A solid macroeconomic backdrop, combined with our project expertise, drove above average performance in indoor projects. We also continued to advance our sales to Pro customers, delivering another quarter of comparable sales growth well above the company average,” commented Robert A. Niblock, Lowe’s chairman, president and CEO.

“Our employees are the foundation of our business and I would like to thank them for their hard work and commitment to anticipating and serving customer needs,” 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 $304 million in dividends in the first quarter.

As of May 5, 2017, Lowe’s operated 2,137 home improvement and hardware stores in the United States, Canada and Mexico representing 213.8 million square feet of retail selling space.

1 Adjusted diluted earnings per share is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measures Reconciliation” section of this release for additional information as well as reconciliations between the Company’s GAAP and non-GAAP financial results.

A conference call to discuss first quarter 2017 operating results is scheduled for today (Wednesday, May 24) 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 2017 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 22, 2017.

Lowe’s Business Outlook

The company reaffirms its operating outlook for Fiscal Year 2017; however, diluted earnings per share have been updated to reflect the loss on extinguishment of debt and resulting lower interest expense.

Fiscal Year 2017 — a 52-week Year (comparisons to fiscal year 2016 — a 53-week year; based on U.S. GAAP)

  • Total sales are expected to increase approximately 5 percent
  • Comparable sales are expected to increase approximately 3.5 percent
  • The company expects to add approximately 35 home improvement and hardware stores.
  • Operating income as a percentage of sales (operating margin) is expected to increase approximately 120 basis points. 2
  • The effective income tax rate is expected to be approximately 37.8%.
  • Diluted earnings per share of approximately $4.30 are expected for the fiscal year ending February 2, 2018; reflective of the loss on extinguishment of debt and resulting lower interest expense.

2 Includes the 12 basis points benefit of the net gain on the settlement of the foreign currency hedge entered into in advance of the company’s acquisition of RONA (1Q 2016 and 2Q 2016), the 44 basis points impact of the non-cash charge associated with the joint venture with Woolworths in Australia (3Q 2016), the 15 basis points impact of project write-offs that were a part of the ongoing review of the company’s strategic initiatives (3Q 2016), the 12 basis points impact of goodwill and long-lived asset impairment charges associated with the company’s Orchard Supply Hardware operations (3Q 2016), as well as the 13 basis points impact of severance-related costs associated with the company’s productivity efforts (4Q 2016).

Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, priorities, 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, including those relating to acquisitions by Lowe’s and the expected impact of such transactions on our strategic and operational plans and financial results, and 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, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

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 that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, 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 focused on omni-channel sales and marketing presence 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, ransomware 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; (ix) positively and effectively manage our public image and reputation and 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; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience 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. With respect to acquisitions, potential risks include the effect of such transactions on Lowe’s and the target company’s strategic relationships, operating results and businesses generally; our ability to integrate personnel, labor models, financial, IT and others systems successfully; disruption of our ongoing business and distraction of management; hiring additional management and other critical personnel; increasing the scope, geographic diversity and complexity of our operations; significant integration costs or unknown liabilities; and failure to realize the expected benefits of the transaction. 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 filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, 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. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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 and the description of material changes thereto, if any, 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, except as may be required by law.

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 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.co

SOURCE: Lowe’s Companies, Inc.

Lowe’s to host 1Q 2017 financial results conference call on May 24, 2017

MOORESVILLE, N.C., 2017-May-18 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) first quarter 2017 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, May 24, 2017 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Michael P. McDermott, chief customer officer; and Marshall A. Croom, chief financial officer.  Supplemental slides will be available fifteen minutes prior to the start of the conference call.

What: First Quarter 2017 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Wednesday, May 24, 2017

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

Where: Click on Webcasts and then on Lowe’s First 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 May 24, 2017 through August 22, 2017 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s First 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 States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 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

SOURCE: Lowe’s Companies, Inc.

Lowe’s offers 10% off personal purchases to members of the U.S. Armed Forces

MOORESVILLE, N.C., 2017-May-02 — /EPR Retail News/ — Lowe’s Companies, Inc. announced today (May 1, 2017) it will expand its military discount program by offering 10 percent off personal purchases every day to current and honorably discharged members of the U.S. Armed Forces. The new program uses a MyLowes card for quick identification, is available both in U.S. stores and on Lowes.com and offers easy online enrollment. The discount is effective immediately.

“Lowe’s was founded by Carl Buchan, an Army veteran who wanted to make home building and home improvement affordable for returning GIs and their families,” said Robert A. Niblock, chairman, president and CEO. “The values and leadership instilled through his military service formed the foundation of our company. Enhancing our discount program honors his memory and the commitment servicemen and women and their families make to our country.”

Lowe’s has offered discounts to veterans and military servicemen and women for more than a decade. Current and former servicemen and women can follow these easy steps to enroll in the discount program:

  • Visit Lowes.com/military and complete a short personal profile.
  • Check the box to receive a free MyLowes card.

After the one-time enrollment, U.S. military customers can present their MyLowes card at the store cash register, scan their card at self-checkout or sign in to their account at Lowes.com and receive the discount. In addition to simple checkout in stores and online shopping, the MyLowes card offers free parcel shipping for purchases ordered online with no required minimum purchase. For additional details about the discount, visit Lowes.com/military.

Lowe’s is proud of its long history honoring servicemen and women. In addition to the military discount program, Lowe’s provides differential pay for employees serving in the military and offers employment opportunities for military personnel after their service ends. Currently, more than 10,000 Lowe’s employees are U.S. military veterans or members of the Guard or Reserve and nearly 800 are deployed to active duty.

In 2016, Lowe’s received the U.S. Department of Defense Freedom Award, the highest recognition given employers for supporting the military, particularly employees serving in the Guard and Reserves.

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 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 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:
1-800-445-6937
CustCare@Lowes.com

Follow Us on Twitter
@LowesMedia

SOURCE: Lowe’s Companies, Inc.

Lowe’s Achieves Strong Fourth Quarter Results

MOORESVILLE, N.C., 2017-Mar-07 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (March 1, 2017) reported net earnings of $663 million and diluted earnings per share of $0.74 for the quarter ended February 3, 2017 compared to net earnings of $11 million and diluted earnings per share of $0.01 in the fourth quarter of 2015. Excluding certain items described below, adjusted diluted earnings per share1 increased 45.8 percent to $0.86 from adjusted diluted earnings per share1 of $0.59 in the fourth quarter of 2015.

The items referenced above for the fourth quarter consisted of the following:

  • $0.06 per share for severance-related costs associated with the company’s productivity efforts;
  • $0.04 per share for a tax charge primarily related to the issuance of final Internal Revenue Code Section 987 regulations in December 2016; and
  • $0.02 per share for the premium paid to acquire the outstanding RONA preferred shares.

For the fiscal year ended February 3, 2017, net earnings were $3.1 billion and diluted earnings per share were $3.47 compared to net earnings of $2.5 billion and diluted earnings per share of $2.73 in fiscal 2015.  Excluding certain items described herein, adjusted diluted earnings per share1 increased 21.3 percent to $3.99 from adjusted diluted earnings per share1 of $3.29 in fiscal 2015.

In addition to the items referenced above, the fiscal year also included the following:

  • $0.05 per share for the net gain on the settlement of a foreign currency hedge entered into in advance of the company’s acquisition of RONA in the first half of the year;
  • $0.33 per share for a charge related to the joint venture with Woolworths in Australia recognized in the third quarter;
  • $0.07 per share for project write-offs recognized in the third quarter that were canceled as a part of the company’s ongoing review of strategic initiatives in an effort to focus on the critical projects that will drive desired outcomes; and
  • $0.05 per share for goodwill and long-lived asset impairment charges associated with the company’s Orchard Supply Hardware operations as part of a strategic reassessment of this business during the third quarter.

1 Adjusted diluted earnings per share are non-GAAP financial measures. Refer to the “Non-GAAP Financial Measures Reconciliation” section of this release for additional information as well as reconciliations between the company’s GAAP and non-GAAP financial results.

Sales for the fourth quarter increased 19.2 percent to $15.8 billion from $13.2 billion in the fourth quarter of 2015, and comparable sales increased 5.1 percent. For the fiscal year, sales were $65.0 billion, a 10.1 percent increase over the same period a year ago, and comparable sales increased 4.2 percent. Comparable sales for the U.S. business increased 5.1 percent for the fourth quarter and 4.1 percent for the fiscal year.

“We achieved strong fourth quarter results, delivering comparable sales growth and adjusted earnings per share above our expectations,” commented Robert A. Niblock, Lowe’s chairman, president and CEO. “We leveraged our omni-channel platform, customer experience design capabilities, and project expertise to drive strong holiday performance and capitalize on broad-based project demand throughout the quarter.  Our success is a testament to our employees and I’d like to thank them for their dedication and purposeful commitment to serving the evolving needs of customers.

“We’ve entered 2017 well-positioned to capitalize on a favorable macroeconomic backdrop for home improvement by continuing to execute on our strategies to expand customer reach and develop capabilities to anticipate and support their needs. We remain committed to making productivity a core strength and investing in future capabilities that will add the most value for customers. We have the vision, the drive, the plan, and the leadership team to deliver long-term value for customer and shareholders,” Niblock added.

Delivering on its commitment to return excess cash to shareholders, the company repurchased $551 million of stock under its share repurchase program and paid $306 million in dividends in the fourth quarter. For the fiscal year, the company repurchased $3.5 billion of stock under its share repurchase program and paid $1.1 billion in dividends.

As of February 3, 2017, Lowe’s operated 2,129 home improvement and hardware stores in the United States, Canada and Mexico representing 213.4 million square feet of retail selling space.

A conference call to discuss fourth quarter 2016 operating results is scheduled for today (Wednesday, March 1) 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 Fourth 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 May 23, 2017.

Lowe’s Business Outlook

Fiscal Year 2017 — a 52-week Year (comparisons to fiscal year 2016 — a 53-week year; based on U.S. GAAP)

  • Total sales are expected to increase approximately 5 percent
  • Comparable sales are expected to increase approximately 3.5 percent
  • The company expects to add approximately 35 home improvement and hardware stores.
  • Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase approximately 120 basis points2.
  • The effective income tax rate is expected to be approximately 37.8%.
  • Diluted earnings per share of approximately $4.64 are expected for the fiscal year ending February 2, 2018.

2 Includes the net gain on the settlement of the foreign currency hedge entered into in advance of the company’s acquisition of RONA (1Q 2016 and 2Q 2016) and the impact of the non-cash charge associated with the  joint venture with Woolworths in Australia (3Q2016), the project write-offs that were a part of the ongoing review of the company’s strategic initiatives (3Q2016) , the goodwill and long-lived asset impairment charges associated with the company’s Orchard Supply Hardware operations (3Q2016), as well as severance-related costs associated with the company’s productivity efforts (4Q 2016).

Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, priorities, 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, 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, and 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, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

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 that 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 focused on omni-channel sales and marketing presence 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; (ix) positively and effectively manage our public image and reputation and 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; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. In addition, we could experience 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 acquisition of RONA inc., potential risks include the effect of the transaction on Lowe’s and RONA’s strategic relationships, operating results and businesses generally; our ability to integrate personnel, labor models, financial, IT and others systems successfully; disruption of our ongoing business and distraction of management; hiring additional management and other critical personnel; increasing the scope geographic diversity and complexity of our operations; significant transaction costs or unknown liabilities; and failure to realize the expected benefits of the transaction. 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 filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, 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. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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 and the description of material changes thereto, if any, 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, except as may be required by law.

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 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,375 home improvement and hardware stores and employ over 290,000 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
Email: PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

Lowe’s Companies, Inc. to host 4Q 2016 earnings conference call on Wednesday, March 1, 2017

MOORESVILLE, N.C., 2017-Feb-23 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) fourth quarter 2016 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, March 1, 2017 at 9:00 a.m. Eastern Time with: Robert A. Niblock, chairman, president and chief executive officer; Michael P. McDermott, 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 2016 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Wednesday, March 1, 2017

Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor
Click on Webcasts and then on Lowe’s Fourth 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 March 1, 2017 through May 23, 2017 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Fourth Quarter 2016 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 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:
Tel: 704-758-2917
Email: PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

Lowe’s announces the promotion of Marshall A. Croom as chief financial officer

Lowe’s announces the promotion of Marshall A. Croom as chief financial officer

 

MOORESVILLE, N.C., 2017-Jan-23 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (January 17, 2017) announced that Marshall A. Croom, a 20-year Lowe’s veteran, has been promoted to the position of chief financial officer, effective March 3. Croom succeeds Robert F. (Bob) Hull Jr., who announced plans to retire after 17 years with the company. Croom will report to Robert A. Niblock, Lowe’s chairman, president and CEO.  Hull will remain at Lowe’s through March to ensure a smooth transition period.

In his new role, Croom, 56, will oversee accounting, tax, treasury, investor relations, and financial planning and analysis.  He will also continue to lead internal audit and enterprise risk management, areas he has managed since 2009.

“Marshall brings over 30 years of financial and operational experience to his new role and, importantly, possesses a deep understanding of virtually every facet of Lowe’s,” Niblock said. “We have confidence in Marshall’s proven leadership as we continue to focus and invest in the areas that meet consumers’ evolving expectations.  We look forward to a smooth transition, given our CFO succession planning process.”

For the past eight years as chief risk officer, Croom had responsibility for providing oversight and direction for the management of all material risks across the company, including enterprise risk management, internal audit, project and process management, quality assurance, information security, loss prevention and workers’ compensation. Prior to leading the risk organization, he held several leadership positions in finance, including senior vice president of finance, treasurer and assistant treasurer, including responsibility for investor relations and tax. In addition, he served for three years as senior vice president of merchandising and store operations support. Croom joined Lowe’s in 1997, following a successful 11-year career with Ernst & Young, including two years in the firm’s national tax department.

Niblock added, “At the same time, we want to thank Bob for the many contributions he has made to the organization, including 14 years as our CFO.  He played an integral role in the growth and success of Lowe’s transformation to an omni-channel home improvement company. We appreciate all that he has done for our company and wish him the best with his next chapter.”

Hull said, “My time at Lowe’s has been extraordinary and I feel privileged to have worked with people who are so passionate about serving others. I look forward to working closely with Marshall to successfully transition my responsibilities.”

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.

Media Inquiries:

704-758-2917
PublicRelations@Lowes.com

SOURCE: Lowe’s Companies, Inc.

###

Lowe’s Companies, Inc. to broadcast its 3Q2016 earnings conference call on Wednesday, November 16, 2016

MOORESVILLE, N.C., 2016-Nov-10 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) third quarter 2016 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, November 16, 2016 at 9:00 a.m. Eastern Timewith: 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: Third Quarter 2016 Earnings Conference Call Webcast

When: 9:00 a.m. Eastern Time on Wednesday, November 16, 2016

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

Click on Webcasts and then on Lowe’s Third 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 November 16, 2016 through February 28, 2017 by visiting http://www.Lowes.com/investorand clicking on Webcasts and then on Lowe’s Third Quarter 2016 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 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.co

Source: Lowe’s Companies, Inc.

Michael P. McDermott promoted to the position of Chief Customer Officer at Lowe’s Companies, Inc.

MOORESVILLE, N.C., 2016-Nov-02 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (Oct. 27, 2016) announced that Michael P. McDermott has been promoted to the position of chief customer officer, effective immediately. He will report to Robert A. Niblock, Lowe’s chairman, president and CEO. McDermott currently serves as Lowe’s chief merchandising officer, a position he has held since 2014.

In his new and expanded role, McDermott will be responsible for creating experiences that best serve customers and differentiate Lowe’s in an omni-channel environment, including leading customer insights, customer experience design, marketing and strategy. He will also continue to be responsible for overseeing the company’s full merchandising offering for all Lowe’s U.S. stores and Lowes.com, as well as all global sourcing activities.

McDermott will succeed Michael A. Jones, who is leaving to pursue new opportunities.

“We are extremely confident in Mike McDermott and happy that he has agreed to take on these expanded responsibilities and important role,” Niblock said. “Since joining Lowe’s three years ago, Mike has demonstrated exceptional management and leadership skills that make him ideally suited to lead Lowe’s efforts to create an even more exceptional home improvement experience for customers.”

Niblock added, “At the same time, we want to express our thanks to Mike Jones for his many contributions to the company. We wish him well and great success as he pursues future opportunities.”

Prior to serving as head of merchandising, McDermott joined Lowe’s in 2013 as senior vice president and general merchandising manager-building and maintenance, and was responsible for Lowe’s lumber & building materials, millwork, hardware & tools and rough plumbing & electrical divisions.

He joined Lowe’s from General Electric, where he served as sales leader-appliances and was also a member of the company’s corporate commercial council.  He brought to Lowe’s more than 20 years of experience in product leadership, merchandising, marketing and commercial sales.

McDermott earned a bachelor’s degree in communications from The College of New Jersey and a master’s degree in political science from Villanova University.

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 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.co

###

Michael P. McDermott promoted to the position of Chief Customer Officer at Lowe’s Companies, Inc.
Michael P. McDermott promoted to the position of Chief Customer Officer at Lowe’s Companies, Inc.

 

SOURCE: Lowe’s Companies, Inc.

Lowe’s to webcast presentation by Robert Niblock and Bob Hull at the Goldman Sachs 23rd Annual Global Retailing Conference

MOORESVILLE, N.C., 2016-Sep-05 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announces that Robert A. Niblock, chairman, president, and chief executive officer, and Robert F. Hull, Jr., chief financial officer, will present at the Goldman Sachs 23rd Annual Global Retailing Conference in New York, NY.

What: Presentation by Robert Niblock and Bob Hull at the Goldman Sachs 23rd Annual Global Retailing Conference in New York, NY

When: 1:40 p.m. Eastern Time on Thursday, September 8, 2016

Where: http://www.Lowes.com/investor

Click on Webcasts and then Lowe’s Companies, Inc. at Goldman Sachs 2016 Global Retailing Conference

How: Live over the internet – the archived webcast will be available until December 7, 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 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

For customer inquiries: 1-800-445-6937

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 to present at the UBS Global Consumer Conference in Boston, MA

MOORESVILLE, N.C., 2016-Mar-10 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) announces that Robert A. Niblock, chairman, president and chief executive officer, andRobert F. Hull, Jr., chief financial officer will present at the UBS Global Consumer Conference in Boston, MA.

What: Presentation by Robert Niblock and Bob Hull at the UBS Global Consumer Conference in Boston, MA
When: 10:30 a.m. Eastern Time on Thursday, March 10, 2016
Where: http://www.Lowes.com/investor
Click on Webcasts and then Lowe’s Companies, Inc. at UBS Global Consumer Conference
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 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 to becomes Canada’s leading home improvement retailer with the acquisition of RONA inc.

  •  Transaction valued at C$3.2 billion (US$2.3 billion)
  • Transaction unanimously approved by both companies’ Boards of Directors
  • Agreement is based on compelling strategic rationale for both companies
  • Lowe’s pledges important commitments to RONA’s key Canadian stakeholders
  • Lowe’s to locate its Canadian head office in Boucherville, Quebec; Canadian operations to be headed by  Sylvain Prud’homme, President of Lowe’s Canada
  • Acquisition accelerates Lowe’s growth strategy in Canada

MOORESVILLE, N.C. and BOUCHERVILLE, Quebec, 2016-Feb-03 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) (“Lowe’s” or the “Company”) and RONA inc. (TSX: RON, RON.PR.A) (“RONA”) announced today that they have entered into a definitive agreement under which Lowe’s is expected to acquire all of the issued and outstanding common shares of RONA for C$24 per share in cash, and all of the issued and outstanding preferred shares of RONA for C$20 per share in cash.  The total transaction value is C$3.2 billion (US$2.3 billion) (the “Transaction”).  The offer represents a premium of 104 percent to RONA’s closing common share price on February 2, 2016 and a 38 percent premium to RONA’s 52-week high of C$17.36. Together, Lowe’s Canada and RONA stores will createCanada’s leading home improvement retailer with 2015 pro forma revenues from Canadian operations of approximately C$5.6 billion. Excluding transaction and integration costs, we anticipate the Transaction will be accretive to Lowe’s earnings in the first year following the close of the acquisition.

The Transaction has been unanimously approved by the Boards of Directors of Lowe’s and RONA and is supported by the management teams of both companies. The Transaction is expected to proceed by way of a plan of arrangement by which Lowe’s would acquire all of the outstanding shares of RONA, subject to RONA common shareholder approval and satisfaction of customary conditions, including the receipt of all necessary regulatory approvals. The RONA Board has received an opinion from Scotia Capital Inc. that the consideration to be received by RONA’s common and preferred shareholders pursuant to the Transaction is fair, from a financial point of view.

The RONA Board will recommend that RONA shareholders vote in favor of the plan of arrangement at a special meeting of shareholders expected to be held before the end of the first quarter of 2016. Further information regarding the Transaction will be included in RONA’s information circular to be mailed to RONA shareholders in advance of the special meeting. The arrangement agreement provides that RONA is subject to customary non-solicitation provisions.

“We are very excited about this transaction as it leverages the strengths of two great companies, positioning us for continued success in Canada’s over C$45 billion and growing home improvement industry. The strategic rationale of this transaction, for both companies, is very compelling,” said Lowe’s Chairman, President and CEO Robert A. Niblock.

“The transaction is expected to accelerate Lowe’s growth strategy by significantly expanding our presence in the Canadian market through the addition of RONA’s attractive business and excellent store locations across the country,” added Niblock.  “Importantly, the transaction also provides Lowe’s with entry into Quebec, where RONA is the market leader and we have no presence. We have committed to maintaining RONA’s operations inBoucherville, where we will headquarter our Canadian businesses, and plan to continue to operate RONA’s multiple retail banners and distribution services to independent dealers.  With our shared customer-centric values and a steadfast commitment to the Canadian market, we expect to generate significant long-term benefits for shareholders, customers, vendors, employees and the communities we serve.”

RONA’s Chairman, Robert Chevrier added, “We believe the time is right to take the next step in the evolution of the RONA family. The team at Lowe’s has presented us with an excellent plan that enables our company to maintain its brand power while at the same time leveraging Lowe’s global presence to build upon and expand our reach. With commitments made by Lowe’s to our employees, potential new markets for Canadian manufacturers and product offerings for our independent dealers, this transaction presents the ideal opportunity for the continued growth of our company while delivering an attractive premium for our shareholders.”

The Canadian operations will be led by Sylvain Prud’homme, president of Lowe’s Canada. The senior management teams of both companies will work to assure a smooth and effective transition.

“We are pleased with the solid position we have established in key Canadian markets in recent years and the positive reception from our local customers,” said Prud’homme. “We look forward to continuing our commitment to the Canadian market and further enhancing our offering to the customers of both Lowe’s and RONA. We have great respect for RONA’s leadership team and RONA’s talented employee base and look forward to working together to take our businesses to the next level.”

Lowe’s has identified over C$1 billion of opportunities to further increase revenue and operating profitability in Canada. These include: expanding customer reach and serving a new portion of the market by applying Lowe’s expertise in certain product categories, such as appliances; enhancing customer relevance, utilizing Lowe’s strengths as a leading omni-channel home improvement company and drawing on its customer experience design capabilities; and driving increased profitability in Canada by leveraging shared supplier relationships and enhanced scale, as well as Lowe’s private label capabilities, in addition to eliminating RONA’s public company costs. Given these opportunities, Lowe’s believes there is potential to double operating profitability in Canada over five years.

Lowe’s Commitments to RONA Stakeholders in Canada

In addition to the attractive premium offered to RONA’s shareholders, Lowe’s has agreed to key commitments for RONA and its stakeholders.  These include:

  • to headquarter the Canadian businesses in Boucherville, Quebec;
  • to maintain RONA’s multiple retail store banners;
  • to enhance distribution services to independent dealers;
  • for RONA to continue to employ the vast majority of its current employees and maintain key executives from RONA’s strong leadership team;
  • to continue RONA’s local and ethical procurement strategy and potentially expand relationships both Lowe’s and RONA have developed with Canadian manufacturers and suppliers; and
  • to continue to support Canadian communities through RONA and Lowe’s charitable and environmental initiatives.

Lowe’s Companies, Inc. Conference Call

Lowe’s will hold a conference call to discuss the announcement today at 8:00 a.m. EST. The conference call will be available by webcast and can be accessed by visiting Lowe’s website at www.Lowes.com/investor, clicking on webcasts, and selecting Lowe’s Companies Canada Acquisition Conference Call. Supplemental slides will be available 15 minutes prior to the start of the conference call. A replay of the call will be archived on Lowes.com/investor.

RONA inc. Conference Call

RONA will hold a conference call to discuss the announcement today at 10:30 a.m. EST. The conference call will be available by webcast and can be accessed by visiting RONA’s website at rona.ca/corporate/investors

News Conference

Lowe’s and RONA will host a joint news conference at noon today at Le Centre Sheraton Montreal Room Hémon, 1201 Boulevard René-Lévesque O, Montréal, QC H3B 2L7.  Executives of both companies will be present to answer questions from the news media. An audio webcast of the news conference will be made available during the event by clicking this link and can be accessed following the event by visiting http://www.Lowes.com/investor and rona.ca/corporate/investors.

Advisors

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

About Lowe’s Companies, Inc.
Lowe’s is a FORTUNE® 50 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 US$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.

About RONA inc.
RONA inc. is a major Canadian retailer and distributor of hardware, building materials and home renovation products. RONA operates a network of close to 500 corporate and independent affiliate dealer stores in a number of complementary formats. With its nine distribution centres, RONA serves its network of stores and several independent dealers operating under other banners, including Ace, for which RONA owns the licensing rights and is the exclusive distributor in Canada. With more than 17,000 employees in corporate stores and more than 5,000 employees in the stores of its independent affiliate dealers, RONA generates annual consolidated sales of C$4.1 billion. For more information, visitRONA.ca.

Forward-Looking Statements – Lowe’s Companies, Inc.

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including those regarding the Transaction 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 or RONA’s plans, objectives, expectations and intentions, the expected timing of completion of the Transaction, 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 Lowe’s believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, it 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 Lowe’s 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 Lowe’s customers, as well as its 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 Lowe’s strategic initiatives and enhance its efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage its business effectively as Lowe’s adapts its traditional operating model to meet the changing expectations of its customers; (v) maintain, improve, upgrade and protect its 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, Lowe’s could experience additional impairment losses if either the actual results of its operating stores are not consistent with the assumptions and judgments it has made in estimating future cash flows and determining asset fair values, or Lowe’s is required to reduce the carrying amount of its 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 be rejected by RONA’s shareholders; the possibility that even if the Transaction is approved by RONA’s shareholders, the Transaction will not close or that the closing may be delayed; the possibility that RONA’s board of directors could receive and approve a superior acquisition proposal; the failure to obtain, any necessary actions to obtain and the timing to obtain any required regulatory approvals for the Transaction or any transaction ancillary thereto; 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 Lowe’s is exposed to, you should read the “Risk Factors” and “Critical Accounting Policies and Estimates” included in Lowe’s 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 Lowe’s 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 Lowe’s or any person acting on behalf of Lowe’s about any of the matters covered in this release are qualified by these cautionary statements and in the “Risk Factors” included in Lowe’s most recent Annual Report on Form 10-K to the SEC and the description of material changes, if any, therein included in Lowe’s Quarterly Reports on Form 10-Q or subsequent filings with the SEC. Lowe’s expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events, or otherwise.

Forward-Looking Statements – RONA inc.

This press release includes “forward-looking statements” that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of RONA may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe” or “continue” or the negatives of these terms, variations of them, similar terminology or the use of future tenses. More particularly and without limitation, this press release contains forward-looking statements and information concerning: statements or implications about the anticipated benefits of the Transaction to RONA, Lowe’s and their respective shareholders, including future financial and operating results, Lowe’s or RONA’s plans, objectives, expectations and intentions; and the anticipated timing for the special meeting of RONA shareholders.

In respect of the forward-looking statements and information concerning the anticipated benefits of the proposed Transaction and the anticipated timing for the special meeting of RONA shareholders, RONA has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Transaction; and other expectations and assumptions concerning the Transaction. The anticipated timing to hold the shareholder meeting may change for a number of reasons. Although RONA believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Accordingly, investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.

Risks and uncertainties inherent in the nature of the Transaction include without limitation the failure of the parties to obtain the necessary shareholder, regulatory and court approvals, or to otherwise satisfy the conditions to the completion of the Transaction, in a timely manner, or at all; significant transaction costs or unknown liabilities; failure to realize the expected benefits of the Transaction; and general economic conditions. Failure to obtain the necessary shareholder, regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Transaction, may result in the Transaction not being completed on the proposed terms, or at all. In addition, if the Transaction is not completed, and RONA continues as an independent entity, there are risks that the announcement of the Transaction and the dedication of substantial resources of RONA to the completion of the Transaction could have an impact on RONA’s business and strategic relationships (including with future and prospective employees, customers, dealer-owners, distributors, suppliers and partners), operating results and businesses generally, and could have a material adverse effect on the current and future operations, financial condition and prospects of RONA. Furthermore, the failure of RONA to comply with the terms of the arrangement agreement may, in certain circumstances, result in RONA being required to pay a fee to Lowe’s, the result of which could have a material adverse effect on RONA’s financial position and results of operations and its ability to fund growth prospects and current operations.

For more information on the risks, uncertainties and assumptions that would cause RONA’s actual results to differ from current expectations, please also refer to RONA’s public filings available at www.sedar.com and www.RONA.ca. In particular, further details and descriptions of these and other factors are disclosed in RONA’s Management’s Discussion and Analysis for the fiscal year ended December 28, 2014 under the “Risks and uncertainties” section. The forward-looking statements contained in this press release are expressly qualified in their entirety by the foregoing cautionary statements. RONA expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

NO OFFER OR SOLICITATION

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell RONA common shares.

SOURCE Lowe’s Companies, Inc.

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.

 

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. to broadcast its Q4 2014 earnings conference call live over internet on February 25, 2015

MOORESVILLE, N.C., 2015-2-18 — /EPR Retail News/ — In conjunction with the Lowe’s Companies, Inc. (NYSE: LOW) fourth quarter 2014 earnings press release, you are invited to listen to its conference call to be broadcast live over the internet on Wednesday, February 25, 2015 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: Fourth Quarter 2014 Earnings Conference Call Webcast
When: 9:00 a.m. Eastern Time on Wednesday, February 25, 2015
Where: Visit Lowe’s Investor Relations website at http://www.Lowes.com/investor

Click on Webcasts and then on Lowe’s Fourth Quarter 2014 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 25, 2015 through May 19, 2015 by visiting http://www.Lowes.com/investor and clicking on Webcasts and then on Lowe’s Fourth Quarter 2014 Earnings Conference Call.

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 1,835 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:704-758-2917

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