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Lowe's Companies Inc (LOW.N)

LOW.N on New York Stock Exchange

86.69USD
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Lowe's on conf call- Expect some benefit from hurricanes as into Q4 and 2018
Tuesday, 21 Nov 2017 10:33am EST 

Nov 21 (Reuters) - Lowe's Companies Inc :In presentation- Q3 average ticket rose 5.8 percent to $72.63, customer transactions increased 0.7 pct‍​.In presentation- Q3 transactions over $500 up 8.2 percent, between $50 and $500 up 3.8 percent.In presentation- Q3 comp sales of appliances, lumber and buildng materials, plumbing were above average.In presentation- Q3 comp sales of flooring, lawn & garden products, paint, fashion fixtures below average.In presentation- key drivers of home improvement spending are real disposable personal income, home prices, and housing turnover..Outlook for home improvement industry remains positive, supported by job gains and income growth, strong consumer balance sheets.Rising home prices should continue to encourage homeowners to engage in discretionary projects along with maintenance, repair spending.On conf call- Q3 lumber building materials had double-digit comp sales, driven by pro demand, hurricane prep and cleanup, inflation.On conf call- Q3 online comparable sales growth increased 33 percent.Coo- drove increased traffic in-store and online, capitalizing on supportive macroeconomic backdrop and customers' desire to invest in homes.Coo- "given harvey was more a water event and irma more wind event, expect magnitude of benefit and recovery period for houston will surpass florida".Coo- continue to build pro awareness with targeted marketing, pro exclusive offers.  Full Article

Lowe's reports Q3 earnings per share of $1.05
Tuesday, 21 Nov 2017 06:00am EST 

Nov 21 (Reuters) - Lowe's Companies Inc :Lowe's reports third quarter sales and earnings results.Q3 earnings per share $1.05.Q3 sales $16.8 billion versus I/B/E/S view $16.59 billion.Q3 earnings per share view $1.02 -- Thomson Reuters I/B/E/S.Lowe's Companies Inc- ‍total sales are expected to increase approximately 5 percent in fiscal year 2017​.Lowe's Companies Inc - ‍comparable sales are expected to increase approximately 3.5 percent in fiscal year 2017​.Lowe's Companies Inc - ‍comparable sales increased 5.7 percent for Q3​.Lowe's Companies Inc- ‍diluted earnings per share of $4.20 to $4.30 are expected for fiscal year ending February 2, 2018​.Lowe's Companies Inc - ‍hurricane-related sales in quarter were approximately $200 million​.FY earnings per share view $4.50, revenue view $68.40 billion -- Thomson Reuters I/B/E/S.  Full Article

Lowe's on conf call- Q2 comp growth constrained due to disruption from changes to store staffing model
Wednesday, 23 Aug 2017 10:24am EDT 

Aug 23 (Reuters) - Lowe's Companies Inc :In presentation - Q2 average ticket rose 3.5 percent to $71.40, customer transactions rose 3.1 percent.In presentation - appliances, lawn & garden, lumber and rough plumbing and electrical products performed above average in Q2.Fashion fixtures, flooring, kitchens, millwork, paint, seasonal & outdoor living categories performed below average in Q2.Key drivers of home improvement spending are real disposable personal income, home prices, and housing turnover.Outlook for the home improvement industry remains positive.Rising home prices should continue to encourage homeowners to engage in discretionary projects in addition to ongoing maintenance and repair spending.On conf call- Q2 comp growth was constrained due to disruption from changes to store staffing model, which became more apparent with increased traffic.On conf call- drove 43 percent comp growth on lowes.com in Q2.On conf call- offering free parcel shipping exclusively for Mylowe's members.Comp growth improved sequentially through Q2 but was constrained as a result of the disruption caused by changes to our store leadership model earlier in the year.COO- focused on adding incremental labor to weekends and high-traffic times during the week, effort is to continue to retain seasonal labor from our spring hires.  Full Article

Lowe's Companies Q2 adjusted earnings per share $1.57
Wednesday, 23 Aug 2017 06:00am EDT 

Aug 23 (Reuters) - Lowe's Companies Inc :Lowe's reports second quarter sales and earnings results.Q2 adjusted earnings per share $1.57.Q2 earnings per share $1.68.Q2 sales $19.5 billion versus I/B/E/S view $19.53 billion.Q2 same store sales rose 4.5 percent.Q2 earnings per share view $1.61 -- Thomson Reuters I/B/E/S.Comparable sales are expected to increase approximately 3.5 percent for fiscal year 2017.Diluted earnings per share of $4.20 to $4.30 are expected for fiscal year ending February 2, 2018​.Total sales are expected to increase approximately 5 percent​ for ‍FY 2017.Company expects to add approximately 25 home improvement and hardware stores for fiscal year 2017.FY2017 earnings per share view $3.90, revenue view $64.60 billion -- Thomson Reuters I/B/E/S.Says "‍results were below our expectations in first half of this year​".Reports 7.9% comparable sales increase for month of July.Q2 results included a $96 million gain from sale of company's interest in its Australian joint venture​.  Full Article

American Express OPEN extends small business co-brand credit card partnership with Lowe's
Thursday, 20 Jul 2017 09:00am EDT 

July 20 (Reuters) - American Express Co ::American Express OPEN extends small business co-brand credit card partnership with Lowe's.American Express Co - ‍extension of Lowe's business rewards card program​.  Full Article

Lowe's declares 17 pct increase in quarterly cash dividend
Friday, 2 Jun 2017 10:24am EDT 

June 2 (Reuters) - Lowe's Companies Inc ::Board of directors has declared a 17 percent increase in its quarterly cash dividend to 41 cents per share, payable Aug 9, 2017.  Full Article

Lowe's Q1 earnings per share $0.70
Wednesday, 24 May 2017 06:00am EDT 

May 24 (Reuters) - Lowe's Companies Inc ::Lowe's reports first quarter sales and earnings results.Q1 earnings per share $0.70.Q1 sales $16.9 billion versus I/B/E/S view $16.96 billion.Q1 same store sales rose 1.9 percent.Q1 earnings per share view $1.06 -- Thomson Reuters I/B/E/S.Q1 adjusted earnings per share $1.03 excluding items.Lowe's Companies Inc - company reaffirms its operating outlook for fiscal year 2017.Lowe's Companies Inc - diluted earnings per share of approximately $4.30 are expected for fiscal year ending February 2, 2018.Lowe's Companies Inc - company expects to add approximately 35 home improvement and hardware stores in 2017.Lowe's Companies Inc - fiscal year 2017, diluted EPS outlook updated to reflect loss on extinguishment of debt and resulting lower interest expense.FY earnings per share view $4.64, revenue view $68.31 billion -- Thomson Reuters I/B/E/S.Lowe's Companies Inc qtrly comparable sales for U.S. business increased 2.0 percent.  Full Article

Lowe's agrees to buy maintenance supply headquarters
Thursday, 18 May 2017 06:00am EDT 

May 18 (Reuters) - Lowe's Companies Inc ::Lowe's announces agreement to acquire maintenance supply headquarters.Transaction value of $512 million.Lowe's announces agreement to acquire maintenance supply headquarters.Total transaction value of $512 million.Says transaction is expected to be accretive to Lowe's earnings in fiscal 2017.  Full Article

Woolworths updates on home improvement exit
Thursday, 20 Apr 2017 07:53pm EDT 

April 21 (Reuters) - Woolworths Ltd :Notes that an award has now been made in confidential arbitration between woolworths and lowe's in relation to their home improvement joint venture..Woolworths will be able to conclude proposed transaction with home consortium without consent of lowe's.Lowe's is now required to sell its shares in joint venture co, Hydrox Holdings Pty for a value determined by a third-party independent expert as at 18 jan 2016.  Full Article

Lowe's prices $3 bln notes offering
Wednesday, 19 Apr 2017 04:35pm EDT 

April 19 (Reuters) - Lowe's Companies Inc ::Lowe's prices $3.0 billion notes offering.Has agreed to sell $1.50 billion of 3.100 pct notes due 2027 and $1.50 billion of 4.050 pct notes due 2047.  Full Article

BRIEF-Lowe's Companies Inc - Rick D. Damron will be retiring as company's chief operating officer

* Lowe's Companies Inc - ‍on Nov 21, Co announced that Rick D. Damron will be retiring as company's chief operating officer effective February 3, 2018​ Source text (http://bit.ly/2BdoopS) Further company coverage: (Bangalore.newsroom@thomsonreuters.com)