Lowe’s Companies, Inc. is an American home improvement company with operations in the US, Canada, and Mexico. It is currently the second-largest hardware chain in the world (after The Home Depot).
The company, which is based in Mooresville, North Carolina, operates more than 1,800 stores and has over 250,000 employees.
According to Lowe’s, their stores attract more than 15 million customers each week.
The company boasts that its stores have 40,000 products in stock, more than 500,000 items online at Lowes.com, in addition to 500,000 more products available by Special Order.
Lowe’s Companies, Inc. was founded in 1946 and has grown from a small hardware store to one of the largest retailers in the world.
The company focuses on providing high-quality home improvement products at everyday low prices, its vision is to “provide customer-valued solutions with the best prices, products and services to make Lowe’s the first choice for home improvement.”
Lowe’s Companies, Inc. – Company Overview
Chairman and CEO: Robert Niblock- Company headquarters: 1000 Lowe’s Boulevard, Mooresville, North Carolina
- Employees: over 250,000
- Type: Public
- Listed on NYSE as LOW
- S&P 500 Component
- Net sales: $53.417 billion USD (FY 2013)
- Net earnings: $2.286 billion USD (FY 2013)
- Industry: Retail/Home-Improvement
- Founded: 1946
- Website: www.lowes.com
- Investor relations contact: 800-813-7613
Lowe’s Companies, Inc. – Financial Results
| Key figures (in millions of USD except for share data) | 2013 | 2012 |
| Net sales | $53,417 | $50,521 |
| Gross margin | $18,476 | $17,327 |
| Pre-tax earnings | $3,673 | $3,137 |
| Net earnings | $2,286 | $1,959 |
| Total assets | $32,732 | $32,666 |
| Cash and cash equivalents at the end of the year | $391 | $541 |
| Earnings (loss) per share in USD – basic | $2.14 | $1.69 |
| Earnings (loss) per share in USD – diluted | $2.14 | $1.69 |
Source: “Lowe’s Reports Fourth Quarter Sales And Earnings Results”
Robert A. Niblock, Lowe’s chairman, president and CEO, commented on the company’s recent results:
“I am pleased with the progress we made throughout 2013, and would like to thank our employees. They have shown unrelenting determination to provide outstanding service to customers every day in each market we serve, as we transform our company.”
He added:
“During the quarter, we delivered solid performance in core home improvement categories, balancing softer sales of seasonal gifts and holiday decorations. When extreme winter weather arrived late in the quarter, our distribution network responded quickly and efficiently to move product where it was most needed.”
Lowe’s Companies, Inc. – Live Stock Market Data
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