Key Developments: Lowe's Companies Inc (LOW.N)

LOW.N on New York Stock Exchange

74.09USD
27 Feb 2015
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Latest Key Developments (Source: Significant Developments)

Lowe's Companies, Inc issues FY 2014 guidance in line with analysts' estimates; issues FY 2014 comparable sales guidance; issues FY 2014 EPS guidance
Wednesday, 26 Feb 2014 06:00am EST 

Lowe's Companies, Inc:Expects FY 2014 total sales are expected to increase about 5 pct.Expects FY 2014 comparable sales are expected to increase about 4 pct.Expects FY 2014 diluted EPS of about $2.60.Says it reported revenue of $53.4 bln in FY 2013.FY 2014 revenue of $56.2 bln and EPS of $2.64 - Thomson Reuters I/B/E/S.  Full Article

Lowe's Companies Inc Raises FY 2013 Guidance; Raises FY 2013 Comparable Same Store Sales Guidance
Wednesday, 20 Nov 2013 06:00am EST 

Lowe's Companies Inc announced that for fiscal 2013, it expects total sales to increase approximately 6%. Comparable sales are expected to increase approximately 5% and diluted earnings per share (EPS) of approximately $2.15 (versus $2.10 on August 21, 2013). The Company reported revenue of $50.5 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report sales of $53.1 billion and EPS of $2.19 for fiscal 2013.  Full Article

Lowe's Companies Inc Declares Cash Dividend
Friday, 15 Nov 2013 10:36am EST 

Lowe's Companies, Inc announced that it has declared a quarterly cash dividend of $0.18 per share, payable February 5, 2014, to shareholders of record as of January 22, 2014.  Full Article

Lowe's Companies Inc Prices $1.0 Billion Notes Offering
Wednesday, 4 Sep 2013 05:45pm EDT 

Lowe's Companies Inc announced that it has agreed to sell $500 million of 3.875% Notes due 2023 and $500 million of 5% Notes due 2043. Estimated net proceeds from this offering will be approximately $984 million, after deducting offering expenses and underwriters` discounts. Lowe`s intends to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on September 11, 2013. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the notes offering.  Full Article

Lowe's Companies Inc Completes Acquisition Of 72 Orchard Supply Hardware Stores
Friday, 30 Aug 2013 09:35am EDT 

Lowe's Companies Inc announced the completion of its previously announced acquisition of the majority of assets of Orchard Supply Hardware, including 72 Orchard stores, for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard`s supplier partners. Orchard will continue to operate as a separate, standalone business, retaining its brand and its San Jose headquarters. Goldman Sachs acted as financial advisor to Lowe`s, while Hunton & Williams LLP acted as legal advisor.  Full Article

Lowe's Companies Inc Declares Cash Dividend
Friday, 23 Aug 2013 04:30pm EDT 

Lowe's Companies Inc announced that it has declared a quarterly cash dividend of $0.18 per share, payable November 6, 2013, to shareholders of record as of October 23, 2013.  Full Article

Lowe's Companies Inc Raises FY 2013 Guidance; Raises FY 2013 Comparable Same Store Sales Guidance
Wednesday, 21 Aug 2013 06:00am EDT 

Lowe's Companies Inc announced that for fiscal 2013, it expects total sales to increase approximately 5%. Comparable sales are expected to increase approximately 4.5%. Diluted earnings per share (EPS) are the expected of approximately $2.10. The Company reported revenue of $50.5 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report sales of $52.16 billion and EPS of $2.10 for fiscal 2013.  Full Article

Lowe's Companies Inc Acquires 72 Orchard Supply Hardware Stores
Monday, 12 Aug 2013 07:00am EDT 

Lowe's Companies Inc announced further progress in its plans to acquire the majority of assets of Orchard Supply Hardware, including 72 stores, for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard's supplier partners, subject to Bankruptcy Court approval. Lowe's has been advised by Orchard that no additional bids were received by the deadline of August 9, 2013. The transaction will be presented to the Bankruptcy Court for approval on August 20, 2013, and Lowe's anticipates completing the acquisition by the end of August.  Full Article

CopyTele Inc Files Patent Infringement Lawsuits In Connection With Windows Patent, Defendants Includes Lowe's Companies Inc
Thursday, 8 Aug 2013 07:40am EDT 

CopyTele Inc announced that its wholly owned subsidiary, J-Channel Industries Corporation, filed 8 patent infringement lawsuits in the Federal District Court for the Eastern District of Tennessee, in connection with its patented J-Channel Window Frame Construction technology. Defendants in the lawsuits consist of retailers, window manufacturers, and home builders, including Lowe's Companies, Inc., Clayton Homes, Inc., Pella Corporation, Jeld-Wen, Inc., Atrium Windows and Doors, Inc., Ply Gem Industries, Inc., RGF Industries, Inc., Tafco Corporation, Kinro Manufacturing, Inc., and Elixir Industries, Inc.  Full Article

Orchard Supply Hardware Stores Corp Acquisition Agreement With Lowe's Companies Inc as Part Voluntary Chapter 11 Filing
Monday, 17 Jun 2013 01:00am EDT 

Orchard Supply Hardware Stores Corp announced that it has reached an agreement through which Lowe's Companies Inc will acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard`s supplier partners. To facilitate the sale and restructure its balance sheet, Orchard has filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The agreement with Lowe`s comprises the initial stalking horse bid in the Court-supervised auction process under Section 363 of the Bankruptcy Code. Under the terms of the agreement, Lowe`s would acquire no less than 60 of Orchard`s stores, based on further due diligence on the store locations. Orchard Supply Hardware Stores expects to complete the process in approximately 90 days, pending receipt of the necessary approvals from regulators and the Bankruptcy Court. Orchard fully expects to operate its overall business and the vast majority of its stores as usual during its financial restructuring. To this end, Orchard Supply Hardware Stores has secured commitments for $177 million in debtor-in-possession (DIP) financing from Wells Fargo Bank, Orchard Supply Hardware Stores' existing ABL lender, and its Term Loan Lenders which, in addition to Orchard`s ongoing cash flow, will ensure it is able to continue meeting its financial obligations throughout the Chapter 11 case.  Full Article

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Higher home renovation spending drives sales at Lowe's

- Lowe's Cos Inc , the No. 2 U.S. home improvement chain, reported same-store sales well above analysts' estimates as lower gas prices and an improving job market encouraged Americans to spend more on home renovations.

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