Here’s how to get a free ‘Garden-to-Go’ kit from Lowe’s this spring
As you start your spring cleaning, Lowe’s is stepping in to help you get creative and add some nice touches to your home. Lowe’s month-long SpringFest celebration will be hitting stores in April and will include free, curbside family project kits. Starting April 1, you can sign-up for a free Garden-to-Go kit on Lowes.com. The demos will include lawn care maintenance with Scotts and paint demos with The Sherwin-Williams Company. Here’s a list of the events that you can expect to see:
Lowe's looks beyond gardening, grills as it seeks to stretch pandemic stay-at-home gains into spring
Lowe's is preparing for home improvement's busiest sales season. As home improvement's peak sales season begins, Lowe's said it expects shoppers' spring purchases to continue to be influenced by the Covid pandemic. During the holiday season, Lowe's sold bedding, small kitchen appliances like air fryers and kids' toys. Rival Home Depot is also stretching out its spring sales and touting items that make home more comfortable and fun. That would mean Lowe's net sales for the year would be around $86 billion — a decline from $89.6 billion in 2020.cnbc.com
Stocks making the biggest moves midday: Lowe's, MicroStrategy, Six Flags, Casper Sleep & more
Wall Street expected earnings of $1.21 per share on revenue of $19.48 billion, according to Refinitiv. Casper Sleep – Shares of the mattress company declined nearly 7% after Casper posted a larger-than-expected loss for the fourth quarter. Revenue came in at $150 million, which was ahead of consensus estimates for $138 million, according to Refinitiv. The payments company beat fourth-quarter profit estimates by 8 cents a share, with quarterly earnings of 32 cents per share. Toll Brothers earned 76 cents per share last quarter, compared to a consensus estimate of 47 cents, according to Refinitiv.cnbc.com
Lowe's tops earnings estimates as same-store sales jump 28%, warns that some DIY trends could fade
Even with the strong results, Lowe's continues to expect that sales could moderate as the pandemic eases. In a moderate and weak market, demand would likely drop respectively by 7% to 9% and 10%. Even in a weak market, Denton said, the retailer is poised to improve its operating margins. He said as sales moderate with do-it-yourself customers, they may pick up with home professionals — a smaller part of Lowe's customer base, but one that it's looking to grow. The scenario predicts that Lowe's sales for the year would be around $86 billion — a drop-off from its net sales of approximately $89.6 billion in 2020.cnbc.com
Christiansburg police searching duo they say stole hundreds of dollars worth of tools at Lowe’s
Image pulled from surveillance images shows these two men police say stole hundreds of dollars worth of DeWalt tools from Lowe's in ChristiansburgCHRISTIANSBURG, Va. – Recognize either of these men? Christiansburg police said security footage shows the duo stealing several hundreds of dollars worth of DeWalt tools from the Lowe’s in Christiansburg. They arrived as passengers in the car shown below, but police said no image is available of the car’s driver. Car that police say drove the two men to Lowe's (Christiansburg Police Department)Police ask that if you recognize either of these men or the car, contact Officer L.T. Board at 540-382-3131 ext.
Lowe's expects sales to rise about 22% in fiscal 2020 as turnaround efforts gain traction
Lowe's said Wednesday it expects sales to grow by about 22% in fiscal 2020, as its turnaround efforts gain momentum, and it gets a boost from the popularity of home improvement projects during the coronavirus pandemic. Same-store sales are expected to rise by about 23% during the same period, helping it to earn between $7.53 to $7.63 per share, the company said. After adjustments, Lowe's forecast earnings of $8.62 to $8.72 per share in fiscal 2020. Lowe's Chief Financial Officer Dave Denton said its efforts in the months ahead will lift the company's sales per square foot. Correction: Lowe's said it expects sales to grow by about 22% in fiscal 2020.cnbc.com
Pandemic-induced 'nesting' fuels Home Depot and Lowe's sales—Why it's likely to continue
The uptick in DIY projects and home renovations translated to a jump in sales online and in stores. Home Depot's same-store sales in the U.S., which includes sales online and at stores open at least 12 months, soared 24.6% in the quarter. Lowe's same-store sales, including online sales and those at stores open at least 13 months, jumped by about 30%. However, it should be noted that Home Depot's efforts to build its online business began earlier than Lowe's. A 'nesting instinct'As the pandemic interrupts nearly every aspect of life, Home Depot Chief Financial Officer Richard McPhail said people have had a "nesting instinct."cnbc.com
Lowe's shares tumble as earnings fall short despite robust sales gains
Its same-store sales surged more than 30%, including a doubling of online sales, as the coronavirus pandemic pushed more people to its stores and website to invest in their homes. Same-store sales, which track sales online and at Lowe's stores open for at least 12 months, surged 30.1%, topping estimates for 22.8% growth. Sales in all of Lowe's merchandising departments rose over 15%, while all regions' sales climbed more than 20%, President and CEO Marvin Ellison said. In the third quarter, Lowe's said it invested $245 million in Covid-related support for its frontline hourly associates. As of Tuesday's market close, Lowe's shares were up roughly 33% this year, giving the company a market cap of $120.8 billion.cnbc.com
Two market analysts: Watch these retail stocks in busy earnings week for the group
Earnings season turns its focus to retail this week. Dow stocks Home Depot and Walmart join Lowe's, Macy's and Kohl's with reports out in the next few days. "If you look at the places where [consumers] are spending money, we would put those into two big themes — cheap and easy. "Right at the cross section of that is a name like Walmart," said Sanchez. "This is a name that's probably going to have some negative news this earnings quarter.cnbc.com
Lowe’s is hosting curbside trick-or-treat events throughout Southwest, Central Virginia
While parents buy some things to spruce up the house, the kids can indulge in some Halloween festivities. Lowe’s announced the launch of its nationwide curbside trick-or-treat event where families can get free sweet treats as well as a kid-sized pumpkin. On Oct. 22 and Oct. 29 from 6 p.m. to 7 p.m., families can gather at their local Lowe’s to participate in this festive event. Registration will start on Oct. 10 and Lowe’s advises that families save their spots at their desired location as space will be limited. Here are the 10 local store locations participating in this event:Roanoke: 5040 Rutgers St, NW Roanoke, VA 24012-1323S Roanoke: 4224 Valley Ave Roanoke, VA 24018-5748E Roanoke: 4520 Challenger Ave Roanoke, VA 24012-7028Salem: 840 W Main St Salem, VA 24153Rocky Mount: 800 Old Franklin Turnpike Rocky Mount, VA 24151Bedford: 1820 E Lynchburg Salem Tpke Bedford, VA 24523Christiansburg: 350 Peppers Ferry Rd NE Christiansburg, VA 24073-6502Pulaski County (Fairlawn): 6115 Lowes Dr Radford, VA 24141-8995Lynchburg: 8216 Timberlake Rd Lynchburg, VA 24502-2883Martinsville: 1059 Commonwealth Blvd Martinsville, VA 24112-1888Click here to find a location near you.
Lowe's gives $100 million more in bonuses to hourly employees
Lowe's said Wednesday it will give $100 million more in bonuses to hourly employees, as strong demand for home improvement continues. With the latest round, the home improvement retailer will have paid more than $675 million in additional pay to employees this year. Full-time hourly employees will receive $300 and part-time and seasonal hourly employees will receive $150. Other retailers, including Walmart, Target and Kroger, have also given bonuses or increased worker pay during the pandemic. Walmart has given three rounds of bonuses and said it would remain closed on Thanksgiving to give employees time with their families.cnbc.com
Stocks making the biggest moves in the premarket: Oracle, Tesla, Home Depot, Beyond Meat & more
Check out the companies making headlines in the premarket Friday:Home Depot (HD), Lowe's (LOW) — An analyst at Oppenheimer downgraded both of the home improvement companies to "perform" from "outperform." That price target implies a 28.4% upside over the next 12 months. Beyond Meat (BYND) — A JPMorgan analyst downgraded Beyond Meat to "underweight" from "neutral," sending the stock down more than 4%. Tesla (TSLA) — Tesla shares were up 4% in the premarket after an analyst at Piper Sandler hiked his price target on the electric car maker to $515 per share from $480 per share. The analyst said the target hike came after examining Tesla's energy segment and noting: "We anticipate sharply higher demand for these products."cnbc.com
Police looking for men who stole weed eaters from Lynchburg Lowe’s
LYNCHBURG, Va. – Recognize these men? Apparently, for them, it was time to take care of their lawns. The Lynchburg Police Department is asking for help in identifying them in connection with a theft at Lowe’s on July 24. Anyone with information is asked to contact Officer Ferguson at 434-363-5362.
Lowe's same-store sales surge 11.2% as coronavirus restrictions spark home improvement spending
Lowe's shares jumped Wednesday after the company reported better-than-expected earnings. He added that it's the first time in four quarters that Lowe's outperformed rival Home Depot in terms of same-store sales. Lowe's shares have underperformed Home Depot's stock by 1,150 basis points year to date, and trade at a lower multiple to earnings. Lowe's reported earnings a day after Home Depot reported a mixed first quarter. Home Depot's sales beat expectations as Americans stayed home due to Covid-19 restrictions and invested in home improvement.cnbc.com
Lowe's funds $25 million in grants to help minority businesses reopen; CEO challenges other executives to 'do our part'
Lowe's announced Wednesday that it would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy. Lowe's is dishing out the funds to help small businesses, especially home improvement professionals, in need of masks, personal protective equipment and other supplies to operate safely. The new funds follow $340 million of support the home improvement retailer provided for Covid-19 response activities in the first quarter. "These are going to be minority businesses and other businesses that are now starting to reopen," CEO Marvin Ellison told CNBC's Jim Cramer in a "Mad Money" interview. "To all my fellow CEOs out there running large companies: Let's do our part to help the small businesses get back up and going," Ellison said.cnbc.com
Stocks making the biggest moves in the premarket: Target, Lowe's, McKesson, Harley-Davidson & more
Take a look at some of the biggest movers in the premarket:Target (TGT) Target earned 59 cents per share for the first quarter, beating the consensus estimate of 40 cents a share. Lowe's (LOW) The home improvement retailer reported quarterly earnings of $1.77 per share, well above the $1.32 a share consensus estimate. McKesson (MCK) The drug distributor came in 17 cents a share above estimates, with quarterly earnings of $4.27 per share. Johnson & Johnson (JNJ) Johnson & Johnson will stop selling its talc baby powder in the U.S. and Canada, following a significant drop in demand due to what the company calls "misinformation" about the product's safety. Revenue was also well below estimates, with the pandemic forcing Red Rock to close all its Las Vegas properties.cnbc.com
Stock market rallies after strong retail earnings here's what to watch now
Stocks rose sharply on Wednesday after strong retail earnings from the likes of Lowe's and Target. Jharonne Martis, director of consumer research at Refinitiv, said Target has invested in recent years to succeed in today's environment. It's not just about selling key essentials but really investing in the omnichannel experience -- something that Target did five years ago. Michael Lasser, broadline and hardline retail analyst at UBS, said retail evolution is key to separate the winners from the losers. It's going to be the leading players like Home Depot, like Lowe's, Walmart and Target are going to be on that list as well.cnbc.com
Lowe's to advertise during NFL Draft, hinting a bolder marketing strategy is part of its turnaround plans
It had to do minimal shooting for the campaign and use a smaller film crew because of the pandemic, Thalberg said. Marisa Thalberg, executive vice president and chief brand and marketing officer. She was previously Taco Bell's global chief brand officer and worked for Estee Lauder, Unilever Cosmetics International and Revlon. Lowe's spokeswoman Amy Allison said she couldn't disclose Lowe's marketing budget for this year or say how it compares with its prior spending. Thalberg declined to share her vision for marketing the company beyond these ads, saying she is still settling into the role.cnbc.com
3 Lowe’s employees in Wytheville test positive for the coronavirus
WYTHEVILLE, Va. – Three workers at Lowe’s in Wytheville have tested positive for the coronavirus, according to the company. The three associates are now in quarantine and receiving care, according to Pedro Chen, a Lowe’s spokesman. The store remains open and Chen told 10 News in an email that it has been extensively cleaned, per CDC guidelines. Out of an abundance of caution, associates who had worked closely with these workers over a period of time have been put on a paid leave, according to Chen.
Lowe’s closing all stores on Easter Sunday, giving employees ’much-deserved’ day off
ROANOKE, Va. – Lowe’s is taking a day off on Easter. The company announced Wednesday that all stores and distribution centers in the U.S. and Canada a will be closed on April 12. “Our ability to support communities with essential goods and services during this pandemic is thanks to our outstanding, dedicated associates,” said Marvin Ellison, Lowe’s president and CEO. “We want to provide our teams with a much-deserved day off to spend Easter Sunday with their families and loved ones and recharge. I want to personally thank our 300,000 associates who have helped families stay safely at home.
Housing stocks near a major milestone for first time since 2006
Top stocks in the ETF such as Home Depot , Lowe's , Sherwin-Williams and D.R. Stocks such as Lennar , Toll Brothers and PulteGroup are all at or less than 1% from 52-week highs. We also have a Fed that cut rates multiple times last year so, of course, the housing market is going to be booming." "It's getting overbought, not only on a short term, but on an intermediate term basis ... [Its] weekly RSI chart [is] getting up to levels that have been followed by at least near-term pullbacks in the past." Shay agrees that it could see some eventual weakness but says first a few standout stocks could push the entire group through to new highs.cnbc.com
Lowe's is looking to hire 53,000 people this spring
A Lowe's employee walks through the store during the grand opening of the Lowe's store in San Francisco, California. Lowe's is looking to hire at least 53,000 people ahead of the spring season, the home improvement retailer's busiest time of year, the company said Thursday in a press release. That's less than Lowe's goals for a total of 65,000 workers in 2019, of which 50,000 were seasonal hires. Lowe's said that in 2019 about 50% of seasonal hires were converted to permanent jobs. CEO Marvin Ellison, who joined Lowe's from J.C. Penney in 2018, called that out as one of the company's weaknesses.cnbc.com
Home Depot could be in line for a retail rebound, options traders say
There may be another twist in the tale of two retail stocks on the horizon, according to options traders. Home Depot and Lowe's have experienced opposite fates recently. The companies which share ties to both the retail and homebuilder industries reported earnings within a day of each other last week, and while Home Depot faltered, Lowe's surged higher. That means these buyers are betting that Home Depot will close the week at least 1% higher than where it closed Tuesday. This relatively inconspicuous bet might not tell the whole story of how bullish options traders actually are about Home Depot.cnbc.com
Everything Jim Cramer said about the stock market on 'Mad Money,' including retail earnings, Okta and Tableau Software CEOs
CNBC's Jim Cramer says digital is the common thread between the diverging quarterly earnings results in Home Depot, Lowe's, Kohl's and Target. Breaking down Home Depot, Lowe's quarter reportsMichael Bocchieri | Getty Images News | Getty ImagesCNBC's said Wednesday that home repair rivals Home Depot and Lowe's had a common thread in their respective quarterly reports: e-commerce. Lowe's shares rallied nearly 4% to $117.83 during the trading day on the heels of its third-quarter earnings beat and forecast raise. On the other hand, Home Depot attributed its same-store sales and revenue shortfalls, in its earnings report out Tuesday, to its digital platforms. Daniel Acker | Bloomberg | Getty ImagesTariffs on Chinese imports are not the biggest weight on the retail cohort, according to Cramer.cnbc.com
Lowe's shares jump after earnings top estimates despite revenue shortfall and 2019 forecast is boosted
Lowe's on Wednesday reported quarterly earnings that beat analysts' expectations and raised its forecast for the year, even as revenue fell short of projections. "At first blush, this looks like the turnaround at Lowe's continues to progress," Oppenheimer analyst Brian Nagel said on CNBC's "Squawk Box." Despite the store closures, Ellison said the company is "committed" to its Canadian operations. Online sales growth is expected to accelerate in the back half of 2020, Ellison said. Also during the quarter, Lowe's launched a pilot for its new pro loyalty program in certain test markets, said Joseph McFarland, executive vice president of stores, on the earnings call.cnbc.com
Authorities investigating officer-involved shooting that left one hurt in northwest Roanoke
ROANOKE, Va. - LATESTAuthorities are investigating an officer-involved shooting that left one hurt off Hershberger Road in northwest Roanoke. Officers responded to a trespassing call at a business in the 1600 block of Hershberger Road NW around 12:45 p.m. Wednesday. UPDATEAuthorities are investigating an officer-involved shooting that left one hurt off Hershberger Road in northwest Roanoke. Stephen Keats, one person was shot in the area near the Lowe's parking lot behind Krispy Kreme off Hershberger Road NW. ORIGINAL STORYOfficers and other first responders are in the parking lot of Lowe's in Northwest Roanoke off of Hershberger Road NW.
California businesses face reality of electrical outages
Retailers and other businesses, from hardware chains to coffee shops, are dealing with a new economic reality of electrical outages in Northern California. Workers at both small businesses and big chains turned to creative ways to serve customers either in the dark or with limited power from generators. Friedman's Home Improvement store in Sonoma, California lost power Wednesday, but remained open with a limited amount of electricity from generators. Employees with flashlights and head lamps took customers into the darkened store to buy batteries, power cords, flashlights and other items. Insurance doesn't typically cover planned power outages, only outages caused by a natural disaster like an earthquake, Fong said.chicagotribune.com
Man stole cart full of items from Lynchburg Lowe's, police say
LYNCHBURG, Va. - A man walked into Lowe's, filled a cart with items and left without paying for them, according to Lynchburg police. Police say it happened Sept. 23 at 3:41 p.m. at the Lowe's on Timberlake Road in Lynchburg. The suspect is a white male with long black or brown shoulder-length hair and tattoos on his left arm. He was driving a blue late '80s or early '90s Toyota four-door sedan. Anyone with information about this incident is asked to contact Officer Anderson at 434-942-3830 or Crime Stoppers at 888-798-5900.
Lowe's exec apologizes for derogatory comment about Hispanics
(CNN) - A top Lowe's executive apologized Tuesday, after saying a DeWalt power drill was perfect for "Hispanic pros with smaller hands." said Joe McFarland, Lowe's executive vice president of stores, in a corporate video broadcast to store employees Monday. Lowe's did not say whether he would face any consequences consequences for the comments. The company operates more than 1,700 stores in the United States. As of February 1, it employed approximately 190,000 full-time and 110,000 part-time workers in the United States, Canada and Mexico.
Lowe's is laying off thousands of workers
Lowe's is laying off thousands of workers. It said that workers whose jobs are being eliminated will be given transition pay and have the opportunity to apply for open roles at Lowe's. Lowe's operates more than 1,700 stores in the United States. Previously, Lowe's closed 20 US stores, exited its Mexico business and shut down its 99 Orchard Supply Hardware stores in the United States. Unlike many department stores and mall-based retailers, Lowe's, Home Depot and home improvement retailers have not made mass store closures.
Lowe's lays off thousands of workers
Home improvement retailer Lowe's has told thousands of workers that their jobs are being eliminated. The company plans to outsource jobs of maintenance and assembly workers to third-party companies. "We are moving to third-party assemblers and facility services to allow Lowe's store associates to spend more time on the sales floor serving customers. The company announced in April that it is opening a new technology center in North Carolina and would hire up to 2,000 employees there. Last year, Coresight tracked 5,524 store closures, down more than 30% from an all-time high of 8,139 closures announced in 2017.cnbc.com
Police searching for man they say stole a generator from Lynchburg Lowe's
LYNCHBURG, Va. - Police in Lynchburg are investigating a theft from Lowe's on Timberlake Road. On July 18, a man put a Craftsman inverter generator in his cart and left the store without paying around 7:45 p.m. He then put the inverter in a U-Haul truck and left. Anyone with information about this incident is asked to contact Officer Farrar at 434-455-6060, ext 536, or Crime Stoppers at 888-798-5900. Copyright 2019 by WSLS 10 - All rights reserved.
Lowe's taps North Carolina for new tech hub, to create 2,000 jobs
JP Morgan and other banks boost dividends and buybacks after...All 18 of the big institutions tested by the Fed won approval to boost payouts with the exception of the U.S. division of Credit Suisse, which had weaknesses in its capital...Financeread morecnbc.com