Lowe's Companies, Inc. is a leading home improvement retailer operating 1,746 stores in the United States as of February 2, 2024, focusing on providing a comprehensive range of products and services for both professional customers and individual homeowners . The company offers a wide array of products across several categories, including Appliances, Seasonal & Outdoor Living, Lumber, Lawn & Garden, Kitchens & Bath, Hardware, Building Materials, Millwork, Paint, Rough Plumbing, Tools, Electrical, Flooring, and Décor . Lowe's emphasizes its Total Home strategy, aiming to provide a one-stop solution for home improvement needs, catering to both DIY and professional customers .
- Home Décor - Offers a variety of products including Appliances, Décor, Flooring, Kitchens & Bath, and Paint, catering to aesthetic and functional home improvement needs.
- Building Products - Provides essential materials such as Lumber, Building Materials, and Millwork for construction and renovation projects.
- Hardlines - Supplies Tools, Hardware, Electrical, and Rough Plumbing products for both professional and DIY projects.
- Seasonal & Outdoor Living - Features products for outdoor spaces, including Lawn & Garden equipment and seasonal items to enhance outdoor living areas.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Marvin R. Ellison ExecutiveBoard | Chairman, President, and CEO | Board member at FedEx Corporation | Marvin R. Ellison has been with Lowe's since July 2018, serving as CEO and later as Chairman. He previously held leadership roles at J.C. Penney and The Home Depot. | View Report → |
Brandon J. Sink Executive | Executive Vice President and CFO | None | Brandon J. Sink became CFO in April 2022, having previously served in various finance roles at Lowe's. | |
Janice M. Dupré Executive | Executive Vice President, Human Resources | None | Janice M. Dupré joined Lowe's in June 2020, with prior experience at McKesson Corporation. | |
Joseph M. McFarland III Executive | Executive Vice President, Stores | None | Joseph M. McFarland III has been with Lowe's since August 2018, previously holding executive roles at J.C. Penney and The Home Depot. | |
Juliette W. Pryor Executive | Executive Vice President, Chief Legal Officer and Corporate Secretary | None | Juliette W. Pryor joined Lowe's in May 2023, with previous roles at Albertsons and Cox Enterprises. | |
Margrethe R. Vagell Executive | Executive Vice President, Supply Chain | None | Margrethe R. Vagell has been with Lowe's since October 2014, leading supply chain modernization efforts. | |
Quonta D. Vance Executive | Executive Vice President, Pro and Home Services | None | Quonta D. Vance joined Lowe's in June 2023, focusing on Pro customer base expansion. | |
Seemantini Godbole Executive | Executive Vice President, Chief Digital and Information Officer | None | Seemantini Godbole has been with Lowe's since November 2018, recognized for leading digital transformation efforts. | |
William P. Boltz Executive | Executive Vice President, Merchandising | None | William P. Boltz joined Lowe's in August 2018, previously serving as CEO of Chervon North America and holding senior roles at The Home Depot. | |
Bertram L. Scott Board | Director | Director at Becton, Dickinson and Company, Dollar Tree, Equitable Holdings | Bertram L. Scott has been a director since 2015, with expertise in strategy and sales. | |
Brian C. Rogers Board | Director | Director at Raytheon Technologies | Brian C. Rogers has been a director since 2018, with a background in investment management. | |
Colleen Taylor Board | Director | President, U.S. Merchant Services at American Express | Colleen Taylor joined the Lowe's Board in 2022, with experience in financial services and payments. | |
David H. Batchelder Board | Director | None | David H. Batchelder has been a director since 2018, bringing financial management and M&A expertise. | |
Laurie Z. Douglas Board | Director | Senior VP, CIO, and Chief Digital Officer at Publix | Laurie Z. Douglas has been a director since 2015, contributing expertise in technology and cybersecurity. | |
Mary Beth West Board | Director | Director at Albertsons and Hasbro | Mary Beth West has been a director since 2021, with a strong background in marketing and brand building. | |
Raul Alvarez Board | Director | Operating Partner at Advent International; Director at Eli Lilly, First Watch, and Traeger | Raul Alvarez has been a director since 2010, with extensive experience in retail and private equity. | |
Richard W. Dreiling Board | Lead Independent Director | CEO of Dollar Tree | Richard W. Dreiling has been with Lowe's since 2012, providing retail industry insights. | |
Sandra B. Cochran Board | Director | Director at Signet Jewelers | Sandra B. Cochran has been a director since 2016, with over 30 years of retail experience. | |
Scott H. Baxter Board | Director | President, CEO, and Chair of Kontoor Brands | Scott H. Baxter joined the Lowe's Board in 2022, with a background in retail and brand management. |
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Given the continued softness in DIY discretionary demand, particularly in big-ticket categories, what specific strategies are you implementing to stimulate DIY sales and mitigate the impact on overall comparable sales?
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Unfavorable weather has pressured traditional spring seasonal categories; how are you adjusting your inventory and merchandising strategies to better align with consumer demand and reduce the risk of excess inventory in these areas?
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With major e-commerce players enhancing delivery times in rural markets, how do you plan to address potential competitive pressures from faster delivery options, especially in rural areas where you've been testing unique initiatives?
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While you've delivered positive comps in Pro, the DIY segment appears to be underperforming; what measures are you taking to improve DIY performance and ensure you are not losing market share in this key segment?
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Considering the current interest rate environment and its dampening effect on big-ticket discretionary projects, how are you planning to navigate these macroeconomic challenges, and what contingencies are in place if the anticipated recovery in DIY demand is delayed?
Research analysts who have asked questions during LOWES COMPANIES earnings calls.
Christopher Horvers
JPMorgan Chase & Co.
5 questions for LOW
Peter Benedict
Robert W. Baird & Co.
5 questions for LOW
Simeon Gutman
Morgan Stanley
5 questions for LOW
Steven Forbes
Guggenheim Securities, LLC
4 questions for LOW
Steven Zaccone
Citigroup
4 questions for LOW
David Bellinger
Mizuho Securities USA LLC
3 questions for LOW
Seth Sigman
Cantor Fitzgerald
3 questions for LOW
Brian Nagel
Oppenheimer & Co. Inc.
2 questions for LOW
Michael Lasser
UBS
2 questions for LOW
Robert Ohmes
Bank of America
2 questions for LOW
Scot Ciccarelli
Truist Securities
2 questions for LOW
Charles Grom
Gordon Haskett Research Advisors
1 question for LOW
Eric Bosshard
Cleveland Research Company
1 question for LOW
Gregory Melich
Evercore ISI
1 question for LOW
Jonathan Matuszewski
Jefferies Financial Group Inc.
1 question for LOW
Karen Short
Melius Research
1 question for LOW
Katharine McShane
Goldman Sachs Group, Inc.
1 question for LOW
Zachary Fadem
Wells Fargo
1 question for LOW
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
A major entity in the home improvement business with significant annual sales and retail locations or distribution facilities in the U.S., competing in providing goods and services within the home improvement sector through various channels, including electronic means. | |
Sears Holdings, Inc. or Transform Holdco LLC | Engages in the home improvement business with substantial annual sales and operations in the U.S., offering products and services to customers through retail and electronic channels. |
Operates in the home improvement business with significant annual sales, providing goods and services to customers in the U.S. through retail and electronic means. | |
Menard, Inc. | A competitor in the home improvement business with considerable annual sales and operations in the U.S., offering products and services through various channels. |
Competes in the home improvement business by providing goods and services to customers in the U.S. through electronic means, leveraging its extensive e-commerce platform. | |
Ace Hardware Corp. | A significant player in the home improvement business with substantial annual sales, operating retail locations and providing goods and services in the U.S. |
Lumber Liquidators Holdings, Inc. | Engages in the home improvement business with notable annual sales, offering products and services to customers in the U.S. through retail and electronic channels. |
Operates in the home improvement business with significant annual sales, providing goods and services to customers in the U.S. through various channels. | |
Competes in the home improvement business by offering goods and services to customers in the U.S. through electronic means, focusing on e-commerce. | |
A competitor in the home improvement business with substantial annual sales, providing goods and services to customers in the U.S. through retail and electronic channels. | |
HD Supply Holding, Inc. | Engages in the home improvement business with significant annual sales, offering products and services to customers in the U.S. through various channels. |
A competitor in the home improvement business with notable annual sales, providing goods and services to customers in the U.S. through retail and electronic means. | |
True Value Company | Operates in the home improvement business with substantial annual sales, offering products and services to customers in the U.S. through various channels. |
Recent press releases and 8-K filings for LOW.
- $5.0 billion of unsecured senior notes issued across five tranches: $650 million at 3.95% due 2027; $750 million at 4.00% due 2028; $1.1 billion at 4.25% due 2031; $1.3 billion at 4.50% due 2032; and $1.2 billion at 4.85% due 2035.
- Net proceeds of approximately $4.97 billion after underwriting discounts and expenses.
- Notes rank equally with existing and future unsecured senior indebtedness and are governed by an amended and restated indenture dated December 1, 1995, as supplemented September 30, 2025.
- Interest on all notes is paid semi-annually (April 15/October 15 or March 15/September 15), and the company does not intend to list the notes on any securities exchange.
- Lowe’s entered into a new Credit Agreement dated September 16, 2025, establishing a syndicated revolving credit facility with Bank of America, Wells Fargo, U.S. Bank, Barclays, Citibank, Goldman Sachs and JPMorgan Chase as agents (Exhibit 10.1).
- The company executed a Term Loan Credit Agreement on the same date, providing up to $2.0 billion of term loans (Exhibit 10.2).
- Lowe’s also secured a 364-day revolving credit facility of up to $1.0 billion under a separate agreement dated September 16, 2025 (Exhibit 10.3).
- Amendment No. 1 to its Amended and Restated Credit Agreement, dated September 16, 2025, was executed to modify terms of its existing credit facility (Exhibit 10.4).
- Lowe’s agreed to acquire Foundation Building Materials to complement ADG, adding a $250 billion total addressable pro market, 370 branches, and fleet capabilities (1,200 boom trucks, etc.) for large-order fulfillment
- Q2 comps improved from negative to 4.7% positive in July on seasonal weather shifts and strong home improvement categories, though management remains cautious on tariff-driven cost pressures
- Management views a sub-6% mortgage rate as the psychological unlock for homeowners holding $33 trillion in home equity "lock-in," positioning Lowe’s to serve both new-build and remodel demand
- Lowe’s has rebalanced its global sourcing to 60% U.S., 20% China, and 10% Mexico, employing a dynamic, value-focused pricing approach to mitigate tariff risks
- The company launched a closed Mirakl-based marketplace, achieving the platform’s fastest customer rollout, and is planning integration with stores and existing fulfillment networks
- President Trump has intensified public and potential executive actions to undermine Fed Chair Powell’s independence—pressuring for quicker, larger rate cuts despite limited ability to remove him—which raises political risk around future monetary policy.
- Market takeaway: investors rotated out of tech into defensives and small caps, while manufacturing activity hit a 3-year high, but rising input prices cloud the outlook for a September rate cut.
- Lowe’s CEO notes consumers are waiting for more economic confidence before discretionary spending, with 71% of homeowners who plan DIY projects to save money and 62% increasingly concerned about maintenance costs versus end-2024.
- Angi reports 25% of homeowners end up hiring professionals after DIY attempts—often at higher cost—with painting and landscaping as the most common DIY tasks, while skilled trades like electrical and HVAC remain outsourced.
- Lowe’s reported $24.0 B in Q2 sales, 1.1 % comparable sales growth and $4.33 adjusted EPS (+5.6 %), with adjusted operating margin of 14.7 % (+23 bps).
- In strategic M&A, Lowe’s closed the Artisan Design Group acquisition and agreed to acquire Foundation Building Materials for $8.8 B (13.4× adj EBITDA), expected to close in 2025 and be accretive to adjusted EPS; share repurchases paused pending deleveraging.
- Updated full-year 2025 outlook to $84.5–85.5 B in sales, comps flat to +1 %, adjusted operating margin 12.2–12.3 %, adjusted EPS $12.20–12.45; Q3 comps ~+125 bps vs. guide floor and margin ~–20 bps vs. prior year.
- Generated $3.7 B in free cash flow in Q2, invested $495 M in CapEx, paid $645 M in dividends, ended quarter with adjusted debt/EBITDAR of 2.96× and $4.9 B in cash.
- Lowe’s sees a healthy homeowner but notes near-term headwinds from elevated mortgage and short-term rates driving housing turnover to three-decade lows; remains optimistic on medium-to-long-term demand given aging housing stock, record equity, and rising disposable income.
- 20% of purchases are exposed to China tariffs; after pausing at 145%, Lowe’s resumed imports at 30% and is managing risk via supplier negotiations, sourcing diversification, and a portfolio pricing approach to remain competitive.
- Under Marvin Ellison, Lowe’s has modernized systems (phased out a 30-year green-screen), overhauled supply chain, launched a loyalty program, rolled out urban/rural store segmentation, and grown e-commerce from 4% to 12% of sales, now adding a marketplace via a Mirakl partnership.
- Pro business focus on small-medium customers includes private brand balance, job-site delivery, and an endless-aisle digital catalog; acquired ADG to enter the $50 billion plan-pro market in residential construction and multifamily across 18 states.
- Capital priorities remain organic/inorganic investment, a 35% dividend payout, and remaining cash to buybacks (paused this year to fund ADG); targeting 2.75× leverage and a BBB+ rating, with no near-term debt refinancing.
- Sales Performance: Lowe's delivered $20.9 billion in Q1 sales with comparable sales down 1.7% and reported diluted EPS of $2.92; the quarter also saw a gross margin of 33.4% and free cash flow of $2.9 billion.
- Strategic Acquisition: The company announced an acquisition of Artisan Design Group for $1.325 billion, targeting enhanced Pro business penetration in a $50 billion market and expected EPS accretion in fiscal 2026.
- Digital and Pro Growth: Growth was driven by a 6% increase in online sales and mid-single-digit improvement in Pro sales, along with investments in technology such as the AI-powered MyLow adviser and recognition as #1 in customer satisfaction by J.D. Power.
- Guidance and Capital Plans: Lowe's reaffirmed fiscal 2025 guidance with expected sales of $83.5-84.5 billion, operating margin of 12.3-12.4%, and capital expenditures around $2.5 billion to support strategic initiatives, including new store construction.
- Lowe's Companies Inc. announced a definitive agreement to acquire Artisan Design Group (ADG) for $1.325 billion, financing the deal entirely with cash on hand .
- ADG is a leading provider of design, distribution, and installation services for interior finishes, operating 132 facilities across 18 states with over 3,200 personnel .
- The acquisition is set to expand Lowe's Pro offering into a new distribution channel, increasing its total addressable market by approximately $50 billion and enhancing support for national, regional, and local homebuilders and property managers .
- ADG recorded fiscal 2024 revenue of approximately $1.8 billion .
- The transaction is expected to close in Q2 2025, pending regulatory approvals and customary closing conditions .