Lowe’s Lays out Plan to Boost Sales, Eyes Acquisitions

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After trailing larger rival Home Depot Inc (HD.N) in same-store sales for 11 straight quarters, Lowe’s is now investing in everything from in-store technology to its online business to win back shoppers from the industry leader.

“We recognized that a lot of our ills aren’t just housing-related or macro-related, just some things we needed to fix ourselves,” Robert Hull, who has served as Lowe’s chief financial officer since March 2003, told Reuters on Tuesday.

(As reported by Reuters.com) Read the article

Lowe’s Buys Online Retailer ATG Stores

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In a move that reflects the increased importance of online shopping in the home-improvement market, Mooresville-based Lowe’s Inc. announced Thursday it has purchased ATG Stores, an online retailer of home improvement and lifestyle products. The Kirkland, Wash.-based ATG has more than 500 websites offering 3.5 million products from more than 3,300 name-brand manufacturers. It also has two retail locations in Washington state, according to its website.
(as reported by The Charlotte Observer)

Lowe’s: ‘Not pleased’ and not standing still

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Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

Instead, Niblock and his executive team outlined a series of initiatives they intend to implement — or in some cases, accelerate — to address some “gaps” they’ve identified through a critical analysis undertaken earlier in 2011.“We will go to market differently beginning in the second half of this year,” Niblock said.
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(As reported in Home Channel News)

Lowe’s Rolls up its Sleeves and Addresses Merchandising

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Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro-environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

Instead, Niblock and his executive team outlined a series of initiatives they intend to implement — or in some cases, accelerate — to address some “gaps” they’ve identified through a critical analysis undertaken earlier in 2011. “We will go to market differently beginning in the second half of this year,” Niblock said. Continue reading the article

(As reported in Home Channel News)

Lowe’s Embraces Change at Shareholder’s Meeting

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At its annual meeting, Lowe’s chairman and CEO Robert A. Niblock continued to hammer on the theme of transformation at the nation’s second-largest home center chain.

“Making home improvement simple for customers starts with making it simple for our employees by providing them with the right technology and resources,” said Niblock. “Throughout our 65-year history, Lowe’s has changed many times. To be successful in the future, we must transform the shopping experience for customers wherever and however they choose to shop with Lowe’s.”

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As reported by Home Channel News

Home Improvement Store Sales are Set to Grow

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Sales at home-improvement stores likely have bottomed out and are expected to turn around, providing some optimism for improved performance making the stock for the major chains more attractive. Revenue for Lowe’s Cos. and Home Depot Inc. has been weak as the early spring weeks have been cool and wet in some parts of the country, including the Northeast.

As reported in Bloomberg Business

Lowe’s Goes Beyond Home Improvement Retailing

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In the 1980s, when Lowe’s decided to change from a chain of southeastern contractor yards to a nationwide big-box retailer, the company knew it wouldn’t happen overnight. But a steady vision, stable leadership and good relations with Wall Street made the goal a reality. Today, the North Carolina-based company has more than 1,725 warehouse-sized stores in all 50 states plus Canada and Mexico.

Now it’s time for another change.

(as reported by Brae Canlen of the Home Channel News)

Will Lowe’s Credit Card Help it fight Home Depot?

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A 5%-off program from Lowe’s on a new private-label credit card will likely resonate well with the home improvement chain’s consumers, analysts say. “This move will clearly add a catalyst to tilt market share to Lowe’s, in the wake of apparent share loss to Home Depot in recent quarters,” analyst Matthew Fassler of Goldman Sachs wrote in a note to clients.

(As reported in the Financial Post by Hollie Shaw)

Lowe’s at a loss against Home Depot

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Lowe’s issued a bleak earnings forecast after being outperformed by rival Home Depot in same store sales.  First quarter earnings for the home improvement chain were down 4 cents from the original analyst estimate of 38 cents.  The comparably poorer results to that of Home Depot are mainly attributed to a loss of market share in the appliances division…(read more)

Lowe’s continues to rise in the 4Q

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Home improvement retail giant, Lowe’s, finished off the fourth quarter strong with a significant sales increase, reaching the $285 million mark.  Full year gains were up 12.7%, coming in at $2 billion.  The company expects continued sales growth for fiscal 2011.  The extra week of the year should help sales achieve a 5% increase…(read more)