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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.
Lowe's Companies (NYSE: LOW) has announced its upcoming Fourth Quarter & Fiscal 2024 Earnings Conference Call, scheduled for Wednesday, February 26, at 9 a.m. Eastern time. The company will make supplemental materials available 15 minutes before the conference call begins.
Investors and interested parties can access the webcast through the Quarterly Earnings section of Lowe's Investor Relations website at ir.lowes.com. A replay of the webcast will be accessible from noon ET on February 26, 2025, through February 25, 2026, in the Events & Presentations section of the Investor Relations website.
Lowe's (LOW) has revamped its Pro loyalty program, transitioning from MVPs Pro Rewards to MyLowe's Pro Rewards. The free program, designed for small-to-mid-sized professionals, allows members to earn points from their first dollar spent, redeemable for MyLowe's Money and exclusive rewards. The program features three tiers (Gold Pro, Platinum Pro, Titanium Pro) and includes benefits such as member-only deals, free standard shipping, volume discounts, and a 20% paint discount after $3,000 annual qualifying spend.
Members using the MyLowe's Pro Rewards Credit Card receive a 5% discount on eligible purchases and automatic upgrade to Platinum Pro status. The program includes Pro Business Solutions like Purchase Authorization and Online Order Quoting, plus a customized in-app experience for tracking points and managing orders.
Lowe's has announced the opening of nominations for its Lowe's Hometowns program, a five-year, $100 million community revitalization initiative. For 2025, the company will award $10 million in grants to fund 100 renovations and complete 1,700 additional improvement projects selected by its associates.
Project nominations are open through February 18 at Lowes.com/Hometowns. The program anticipates benefiting over 500,000 people in 2024, with more than 3 million beneficiaries since its 2022 launch. Eligible projects include renovating safe housing facilities, community resources, outdoor spaces, cultural preservation sites, and skilled trades education facilities.
The initiative leverages Lowe's red vest associates' DIY expertise, community relationships, Pro network, and product assortment, with support from implementation partner Points of Light.
Lowe's (NYSE: LOW) unveiled its 2025 Total Home Strategy, focusing on five key growth initiatives: Pro Penetration, Online Sales, Home Services, Loyalty Ecosystem, and Space Productivity. The company announced several major developments, including: a new AI framework to enhance customer experience, the launch of the first product marketplace in U.S. home improvement, a revamped Pro loyalty program (MyLowe's Pro Rewards), and Pro Extended Aisle for jobsite delivery.
The company plans to open 10-15 new stores annually in fast-growing U.S. markets and expand its rural offering to 150 more stores, reaching nearly 500 rural locations. Lowe's expects to generate approximately $1 billion in annual cost savings through Perpetual Productivity Improvement initiatives while maintaining its capital allocation strategy focused on strategic growth and shareholder value.
Lowe's (NYSE: LOW) has announced its upcoming 2024 Analyst and Investor Conference, scheduled for December 11 at 8 a.m. Eastern time in New York City. The company will present updates on key growth initiatives and financial targets, both near-term and long-term.
Supplemental materials will be available at 6 a.m. ET on the conference day. The event will be accessible via webcast through the Events & Presentations section of Lowe's Investor Relations website. A replay will be available from noon ET on December 12, 2024, through December 11, 2025.
Lowe's (NYSE: LOW) reported third quarter 2024 results with net earnings of $1.7 billion and diluted EPS of $2.99. Total sales reached $20.2 billion, down from $20.5 billion in the prior year, with comparable sales declining 1.1%. The company recognized a $54 million pre-tax gain from the 2022 Canadian retail business sale, impacting EPS by $0.10. Excluding this gain, adjusted diluted EPS was $2.89.
Performance was driven by high-single-digit Pro sales growth and strong online sales, despite softness in DIY bigger-ticket discretionary demand. During the quarter, Lowe's repurchased 2.9 million shares for $758 million and paid $654 million in dividends.
Lowe's Companies (NYSE: LOW) announced that its board of directors has declared a quarterly cash dividend of $1.15 per share. The dividend will be paid on February 5, 2025, to shareholders who are on record as of January 22, 2025.
Lowe's has launched a $2.5 million Western North Carolina Small Business Recovery Fund to support small businesses affected by Hurricane Helene. The fund will provide 100 grants of $20,000 each to small businesses in disaster-declared communities, totaling $2 million in direct business support. Applications will be open from Nov. 18-22. Additionally, Lowe's will distribute 3,000 family-style Thanksgiving meals purchased from local caterers and host a Holiday Pop-Up event for affected local artisans, who will receive $1,000 grants. These initiatives are part of Lowe's larger $12 million pledge for relief and recovery efforts in Western North Carolina following Hurricanes Helene and Milton.
Lowe's Companies (NYSE: LOW) has announced its Third Quarter 2024 Earnings Conference Call, scheduled for Tuesday, November 19, at 9 a.m. Eastern time. The company will provide a webcast through the Quarterly Earnings section of their Investor Relations website. Supplemental materials will be available 15 minutes before the call begins. A replay of the webcast will be accessible from noon ET on November 19, 2024, through November 18, 2025.
Lowe's has launched its new Digital Home Platform, a free service exclusively for MyLowe's Rewards members. The platform provides personalized information about home appliances, including warranties, manuals, maintenance suggestions, and how-to content. Initially focusing on appliances purchased within the past five years, the platform automatically displays product information for items linked to members' accounts.
Key features include product information storage, maintenance reminders, compatible product recommendations, and how-to guides. The platform, developed by Lowe's Innovation Labs, aims to create a digital twin for homes and complements other technological initiatives like Style Studio™ and Measure Your Space®.