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    Lowe's Companies Inc (LOW)

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    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 .

    1. Home Décor - Offers a variety of products including Appliances, Décor, Flooring, Kitchens & Bath, and Paint, catering to aesthetic and functional home improvement needs.
    2. Building Products - Provides essential materials such as Lumber, Building Materials, and Millwork for construction and renovation projects.
    3. Hardlines - Supplies Tools, Hardware, Electrical, and Rough Plumbing products for both professional and DIY projects.
    4. Seasonal & Outdoor Living - Features products for outdoor spaces, including Lawn & Garden equipment and seasonal items to enhance outdoor living areas.
    NamePositionStart DateShort Bio
    Marvin R. EllisonChairman, President, and Chief Executive OfficerMay 2021Marvin R. Ellison has been serving as the Chairman, President, and CEO of Lowe's since May 2021. He joined Lowe's as President and CEO in July 2018. Previously, he held leadership roles at J.C. Penney and The Home Depot .
    William P. BoltzExecutive Vice President, MerchandisingAugust 2018William P. Boltz has been EVP, Merchandising at Lowe's since August 2018. Before Lowe's, he was President and CEO of Chervon North America and held senior positions at The Home Depot .
    Janice M. DupréExecutive Vice President, Human ResourcesJune 2020Janice M. Dupré has been EVP, Human Resources at Lowe's since June 2020. She was previously SVP, Talent Management & Diversity at Lowe's and held leadership roles at McKesson Corporation .
    Seemantini GodboleExecutive Vice President, Chief Digital and Information OfficerSeptember 2022Seemantini Godbole is EVP, Chief Digital and Information Officer at Lowe's since September 2022. She was previously EVP, Chief Information Officer at Lowe's and held senior roles at Target Corporation .
    Joseph M. McFarland IIIExecutive Vice President, StoresAugust 2018Joseph M. McFarland III has been EVP, Stores at Lowe's since August 2018. He was previously EVP and Chief Customer Officer at J.C. Penney and held leadership roles at The Home Depot .
    Juliette W. PryorExecutive Vice President, Chief Legal Officer, and Corporate SecretaryMay 3, 2023Juliette W. Pryor serves as EVP, Chief Legal Officer, and Corporate Secretary at Lowe's since May 3, 2023. She previously held executive legal positions at Albertsons Companies and Cox Enterprises .
    Brandon J. SinkExecutive Vice President, Chief Financial OfficerApril 2022Brandon J. Sink has been EVP, Chief Financial Officer of Lowe's since April 2022. He previously held various finance positions at Lowe's, including SVP of Retail Finance and VP of Merchandising Finance .
    Margrethe R. VagellExecutive Vice President, Supply ChainMarch 2024Margrethe R. Vagell is EVP, Supply Chain at Lowe's, starting in March 2024. She was previously SVP, Supply Chain and held other senior positions at Lowe's .
    Quonta D. VanceExecutive Vice President, Pro and Home ServicesJune 2023Quonta D. Vance is EVP, Pro and Home Services at Lowe's since June 2023. She was previously SVP, Transportation and Final Mile at Lowe's and held leadership roles at The Home Depot .
    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Program DetailsProgram 1
    Approval DateDecember 7, 2022
    End Date/DurationN/A
    Total additional amount$15.0 billion
    Remaining authorization amount$12.2 billion
    DetailsThe program allows for share repurchases in the open market or through private transactions. Shares repurchased are retired and returned to authorized and unissued status. The timing and amount of repurchases depend on market conditions and other factors.

    Competitors mentioned in the company's latest 10K filing.

    • National and regional home improvement warehouse chains and lumber yards
    • Traditional hardware, plumbing, electrical, and home supply retailers
    • Paint stores, lumber yards, garden centers, and maintenance and repair organizations
    • General merchandise retailers, home goods specialty stores, warehouse clubs, online retailers, and other specialty retailers
    • Providers of equipment and tool rental, service providers that install home improvement products, and wholesalers that provide home-related products and services to homeowners, renters, businesses, and the government
    • Online and omnichannel retailers with similar product or service offerings
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1962 PresentCurrent auditor

    Recent developments and announcements about LOW.

    Financial Reporting

      Earnings Report

      ·
      Nov 19, 2024, 8:10 PM

      Lowe's Companies, Inc. Q3 2024 Earnings Results

      Date of Release: November 19, 2024

      Key Financial Metrics:

      • Net Earnings: $1.7 billion
      • Diluted EPS: $2.99
      • Adjusted Diluted EPS: $2.89
      • Total Sales: $20.2 billion
      • Comparable Sales: Decreased by 1.1%

      Significant Trends and Insights:

      • The decrease in comparable sales was primarily due to continued softness in DIY bigger-ticket discretionary demand, although this was partly offset by storm-related sales and positive comparable sales in Pro and online sectors .
      • The company experienced high-single-digit positive comps in Pro sales and strong online sales, driven by improvements in traffic and conversion .
      • Lowe's updated its full-year 2024 outlook, expecting total sales between $83.0 to $83.5 billion and adjusted diluted EPS of approximately $11.80 to $11.90 .

      Capital Allocation:

      • Lowe's repurchased approximately 2.9 million shares for $758 million and paid $654 million in dividends during the quarter .

      CEO Statement: Marvin R. Ellison, Lowe's chairman, president, and CEO, noted that the results were modestly better than expected, driven by strong Pro and online sales, and expressed sympathy for those affected by Hurricanes Helene and Milton .

      Outlook:

      • Lowe's anticipates modest storm-related demand in the fourth quarter and has adjusted its outlook for the full year 2024 accordingly .

      For more detailed financial data and non-GAAP reconciliations, please refer to the full earnings release and accompanying documents .