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Lowe's Companies, Inc. reports developments tied to its home improvement retail business, including sales and earnings results, comparable sales trends, annual outlooks, cash dividends, and capital allocation. The company serves do-it-yourself, do-it-for-me, and professional customers through a national store, branch, and distribution network for home decorating, maintenance, repair, remodeling, lawn and garden, and project essentials.
Recurring Lowe's news also covers Pro customer credit and rewards programs, seasonal merchandising events, loyalty offerings such as home maintenance services, supply-chain technology partnerships, and community initiatives focused on housing, local renovation projects, disaster relief, and skilled trades training.
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Lowe's has announced a significant $2 million donation to Building Homes for Heroes, aimed at constructing and modifying up to 75 homes for veterans and first responders over the next two years. This contribution marks the largest single corporate gift to the organization since 2020, bringing Lowe's total donations to over $3.4 million since their partnership began in 2020. The initiative highlights Lowe's commitment to supporting military families, evidenced by a 10% discount offered to eligible military members and their families. Building Homes for Heroes has achieved notable milestones, including the construction of its 300th home in September 2022. As part of its community support, Lowe's also employs approximately 26,000 military associates and has received recognition as a top military-friendly company.
Lowe's has introduced a new suite of mobile tools to enhance efficiency for professional contractors, known as the MVPs Business Tools. These tools are designed to streamline the shopping experience, allowing contractors to manage orders directly from Lowe's mobile app or website. Key features include:
- Online Quoting: Quick quote generation and guaranteed pricing for seven days.
- Volume Savings Program: Savings for orders of $1,500 or more.
- Buy It Again: Simple reordering of frequently purchased items.
- Order Tracking: Centralized view of purchases and delivery tracking.
Research indicates that 61% of professionals expect quicker shopping solutions from retailers. Lowe's aims to support this demand with its MVPs Pro Rewards and Partnership Program, which rewards efficiency and business growth.
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Lowe's Companies, Inc. (NYSE: LOW) announced the appointment of Juliette Pryor as executive vice president, chief legal officer, and corporate secretary, effective May 3, 2023. Pryor, who has over 30 years of legal experience, previously held similar roles at Albertsons, Cox Enterprises, and US Foods. She succeeds Bill McCanless, who is retiring after serving since 2015. Lowe's CEO, Marvin Ellison, praised Pryor's extensive legal background and leadership skills, expressing confidence in her contribution to the executive team. The company reported total sales exceeding $97 billion for FY 2022, with around $92 billion generated in the U.S., where it operates over 1,700 stores and employs approximately 300,000 associates.