Profile: Lowe's Companies Inc (LOW.N)

Lowe’s Companies, Inc. (Lowe’s), incorporated on August 1, 1952, is a home improvement retailer. As of February 3, 2012, Lowe’s operated 1,745 stores, consisted of 1,712 stores across 50 United States, 31 stores in Canada and two stores in Mexico. Its 1,745 stores represent approximately 197 million square feet of retail selling space. The Company serves homeowners, renters and commercial business customers. Individual homeowners and renters complete an array of projects and vary along the spectrum of do-it-yourself (DIY) and do-it-for-me (DIFM). Commercial business customers include those who work in construction, repair/remodel, commercial and residential property management, or business maintenance professions. During the fiscal year ended February 3, 2012 (fiscal 2011), it opened 25 stores, which included the relocation of two existing stores. Seven of the stores were opened in Canada. During 2011, it closed 27 underperforming stores across the United States.

The Company offers a range of products for maintenance, repair, remodeling, and home decorating. It offers home improvement products in the categories, which include appliances, lawn and landscape, fashion electrical, lumber, building materials, paint, home fashions, storage & cleaning, rough plumbing, flooring, tools, seasonal living, millwork, hardware, fashion plumbing, nursery, and cabinets and countertops. Lowe's store stocks approximately 40,000 items, with hundreds of thousands of items available through its special order sales system and Lowes.com. Each Lowe’s store carries a selection of national brand-name merchandise, such as Whirlpool appliances and water heaters, GE and Samsung appliances, Stainmaster carpets, Valspar paints and stains, Pella windows and doors, Sylvania light bulbs, Dewalt power tools, Owens Corning roofing, Johns Manville insulation and James Hardie fiber cement siding.

The Company sells private brands throughout its stores, including tools, seasonal living, home fashions, storage and cleaning, paint, fashion plumbing, flooring, millwork, hardware, fashion electrical and lumber. Some of Lowe’s private brands include Kobalt tools, allen+roth home decor products, Blue Hawk home improvement products, Project Source everyday essentials, Portfolio lighting products, Garden Treasures lawn and patio products, Utilitech electrical and utility products, Reliabilt doors and windows, Aquasource faucets, sinks and toilets, Harbor Breeze ceiling fans, Top Choice lumber products and Iris home automation and management products.

The Company offers installation services through independent contractors in many of its product categories, with flooring, millwork and cabinets and countertops. The Company offers protection plans on appliances, tools and outdoor power equipment. It provides in warranty and out of warranty repair services for major appliances, outdoor power equipment and tools through its stores or in the home through its Lowe’s Authorized Service Repair Network. It offers credit card for retail customers under an agreement with GE Money Bank. It also offers credit programs for commercial business customers. They include a Lowe’s Business Account, which is for small- to medium-size businesses and offers minimum monthly payments, and Lowe’s Accounts Receivable, which is for medium- to large-size businesses that pay in full each month. These programs provide a 5% discount to commercial business customers when they use their Lowe’s commercial credit account. It also offers the Lowe’s Business Rewards Card from American Express.