Lowes Companies Stock Price, News & Analysis

Lowe's Companies, Inc. (NYSE: LOW) will host its second quarter 2020 earnings conference call on August 19, 2020, at 9:00 a.m. ET. Investors can access the live webcast and supplemental materials via Lowe's Investor Relations website. A replay of the call will be available from 12:00 p.m. ET on August 19, 2020, until November 17, 2020. In fiscal year 2019, Lowe's reported $72.1 billion in sales, serving approximately 18 million customers weekly across over 2,200 stores.

Lowe's Companies, Inc. (NYSE: LOW) announced a significant expansion of its supply chain, planning to open 50 cross dock delivery terminals, seven bulk distribution centers, and four e-commerce fulfillment centers over the next 18 months. Notably, a West Coast fulfillment center in Mira Loma, California, set to open in October 2020, will enhance direct shipping capabilities, achieving nearly 100% two-day delivery coverage nationally. This initiative builds on a $1.7 billion investment aimed at enhancing distribution efficiency and facilitating job creation for nearly 5,000 positions.

Lowe's Companies, Inc. (NYSE: LOW) announced an additional $100 million in bonuses for associates facing hardships due to the pandemic, raising the total support to nearly $600 million. Full-time hourly associates will receive $300, while part-time and seasonal associates will get $150 on August 21. This follows previous bonuses and a $2 per hour pay increase for April. The company has also committed over $100 million in community assistance, helping healthcare workers and minority-owned businesses during these challenging times.

Lowe's (NYSE: LOW) announced an exclusive partnership with EGO, the leading brand in battery-powered outdoor power equipment, commencing December 2020. Lowe's will offer EGO's innovative products like mowers, blowers, and trimmers at all U.S. stores by February 2021. The EGO lineup features advanced 56V ARC Lithium™ technology, promising performance that rivals gas-powered tools. Additionally, Lowe's will introduce SKIL battery-powered equipment in late 2020, enhancing its commitment to sustainable products. This move solidifies Lowe's position as a leader in outdoor power equipment.

Lowe's Companies (NYSE: LOW) announced a nationwide requirement for customers to wear masks or face coverings in U.S. stores, effective July 20, 2020. To facilitate this, free masks will be available at customer service desks while supplies last. CEO Marvin R. Ellison emphasized the responsibility to ensure a safe shopping experience during the pandemic. The move aligns with CDC recommendations and reflects Lowe's commitment to safety, as associates have been required to wear masks since May. This initiative follows various operational measures for social distancing.

Lowe's Companies, Inc. (NYSE: LOW) has increased its minority small business grants from $25 million to $30 million and donated an additional $25 million to its grant program with the Local Initiatives Support Corporation (LISC). The total commitment now stands at $55 million, supporting rural communities severely impacted by the pandemic. Lowe's is now the largest donor to LISC's Small Business Relief Program. Additionally, this summer, selected Lowe's stores will host drive-in movies to raise funds for small business relief, matching donations up to $50,000.

Lowe's Companies, Inc. (NYSE: LOW) announces that David M. Denton, CFO, will join a virtual fireside chat hosted by Evercore ISI. This event is scheduled for 8:30 a.m. Eastern Time on July 17, 2020. Investors can access the live discussion online at Lowes.com. Lowe's, a FORTUNE® 50 home improvement retailer, serves about 18 million customers weekly and reported $72.1 billion in sales for fiscal year 2019. The company operates over 2,200 stores and employs around 300,000 associates.

Lowe's Companies, Inc. (NYSE: LOW) announced $100 million in bonuses for its front-line associates amid ongoing COVID-19 challenges, raising total pandemic-related support to over $450 million. Full-time associates will receive $300, while part-timers and seasonals will get $150, complementing earlier bonuses. Additionally, Lowe's increased hourly wages by $2 in April and allocated $87 million in profit-sharing bonuses. The company also donated $70 million to support healthcare workers and minority-owned businesses. This commitment highlights Lowe's focus on employee welfare and community support during the pandemic.

Lowe's Companies has appointed Janice Dupre Little as the new executive vice president of human resources, effective June 22, 2020. Little, with 15 years of expertise in HR and diversity, joined Lowe's in 2017 and previously served as senior vice president of diversity & talent management. She aims to foster an inclusive workplace and enhance employee engagement, supporting Lowe's mission. CEO Marvin R. Ellison highlighted her integral role in shaping leadership strategies and maximizing human capital to ensure Lowe's remains a prime workplace.