Latest Pulse Events on Lowe's Companies, Inc.

Jul 15, 2010

Chief Pulse Comment by Robert A Niblock

The effort has begun to pay off, CEO Robert Niblock said in a presentation to the recent Jefferies Global Consumer Conference. more

Yet it managed not just to survive but thrive by tempering the usual cost cutting measures with initiatives that are helping it serve customers more effectively. The effort has begun to pay off, CEO Robert Niblock said in a presentation to the recent Jefferies Global Consumer Conference. In the first quarter, Lowe's customers spent more on discretionary projects such as house painting and products such as riding mowers. That helped Lowe's post its first increase in comparable store sales , those at locations opened for at least a year, in a long time
Share: Yet it managed not just to survive but thrive by tempering the usual cost cutting measures with initiatives that are helping it serve customers more effectively. The effort has begun to pay off, CEO Robert Niblock said in a presentation to the recent Jefferies Global Consumer Conference. In the first quarter, Lowe's customers spent more on discretionary projects such as house painting and products such as riding mowers. That helped Lowe's post its first increase in comparable store sales , those at locations opened for at least a year, in a long time....PSEs can execute contracts in consumer homes, ensuring more frequent closings and eliminating an advantage previously held by independent contractors who cut their deals in consumer living rooms. Niblock said that PSEs are in place at almost all the locations where they can boost sales, which he estimated to be 80 percent of stores. Lowe's has created a similar position for commercial accounts . District commercial account managers work with the retailer's contractor and tradesman customers to push the full products and services range Lowe's offers building professionals....District commercial account managers work with the retailer's contractor and tradesman customers to push the full products and services range Lowe's offers building professionals. Existing customers were the initial focus, but Lowe's is turning to new business as the housing market bottoms out and looks to rebound next year, Niblock said. Between them, he noted, the PSE and DCA programs already have contributed to comparable store sales gains. Niblock forecast that they would provide Lowe's with a comp lift of between one and two percentage points above average comparable store sales growth in the home center sector going forward.

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BNET - Retail: Lowe's Rides Out Stormy Economy Looking to Gain All the Way

Lowe's Companies, Inc. (LOW)

Jul 13, 2010

Analyst Comment by Robin Diedrich at Edward Jones

Edward Jones analyst Robin Diedrich warns that results may be sketchy on a month to month basis. the Commerce Department reported June retail sales fell 0.5% on Wednesday. more

Forbes.com: Markets News: Consumer Stocks Poised To Bounce

Lowe's Companies, Inc. (LOW)

Jul 12, 2010

Chief Pulse Comment by Larry D Stone

By investing in SkillsUSA, Lowe s is representing our commitment to communities, education and customers, said Larry D. Stone, chairman of Lowe s Charitable and Educational Foundation. more

AMTOnline.com: Top News: SkillsUSA Receives $10 Million Commitment from Lowe's

Lowe's Companies, Inc. (LOW)

Jul 07, 2010

Analyst Comment by Robert Rulla at Fitch

As discretionary spending has begun to improve in the first half of 2010, Fitch director Robert Rulla said the possibility that Congress may expand current federal incentives for energy efficient home improvement projects may further help results. more

Fox Business: Fitch: US Home-Improvement Spending To Rise 3.5% In 2010

Lowe's Companies, Inc. (LOW)

Jul 07, 2010

Analyst Comment by Gary Balter at Credit Suisse

" . Credit Suisse's Gary Balter, singled out Bed Bath & Beyond ( ), Lowe's ( ) and Best Buy ( ), pointing out that housewares and electronics merchants have developed strong cash flow and balance sheets during the recent downturn, and some have started or expanded share buybacks. Most retailers won't report second quarter results until mid August, meaning the June report will be the earliest gauge on the second quarter and a bellwether for the back to school season. So expect retail stocks to have an active day on Thursday. maybe even a good run more

Daily Finance: June Retail Sales Forecast to Rise With the Mercury

Lowe's Companies, Inc. (LOW)

May 29, 2010

Chief Pulse Comment by Robert A Niblock

The company's average annual sales per store fell to about $28 million to $29 million last year, compared with $38 million before the recession, CEO Robert Niblock said. more

But the downturn changed that. The company's average annual sales per store fell to about $28 million to $29 million last year, compared with $38 million before the recession, CEO Robert Niblock said. Speaking Friday at the company's annual shareholders' meeting at Ballantyne Resort in Charlotte, he and other executives said they're aiming to reverse that trend, with several plans designed to boost business at existing locations. "It's really about getting more aggressive in areas we weren't pursuing in the past," Niblock said
Share: But the downturn changed that. The company's average annual sales per store fell to about $28 million to $29 million last year, compared with $38 million before the recession, CEO Robert Niblock said. Speaking Friday at the company's annual shareholders' meeting at Ballantyne Resort in Charlotte, he and other executives said they're aiming to reverse that trend, with several plans designed to boost business at existing locations. "It's really about getting more aggressive in areas we weren't pursuing in the past," Niblock said....Speaking Friday at the company's annual shareholders' meeting at Ballantyne Resort in Charlotte, he and other executives said they're aiming to reverse that trend, with several plans designed to boost business at existing locations. "It's really about getting more aggressive in areas we weren't pursuing in the past," Niblock said. One such area: exterior projects such as roofing, siding, fencing and windows. Previously, a Lowe's employee would visit a customer's home to provide a quote for such a service, but the customer would have to go into the store to order, say, a new roof....Now, a Lowe's store employee in the new position of project specialist exterior can do it all in the home, streamlining the process, making it convenient and taking away a competitive advantage that smaller roofing and window installers possessed. So far, Niblock said, the new position and ordering process has increased the number of people placing exterior project orders through Lowe's; it has rolled out to about 1,400 stores, with more on the way. Lowe's is also working on ways to attract more commercial business, from customers such as apartment and hotel maintenance departments, painters, handymen and the like, Niblock said. The company plans to open 45 new stores this year, compared with 62 last year....So far, Niblock said, the new position and ordering process has increased the number of people placing exterior project orders through Lowe's; it has rolled out to about 1,400 stores, with more on the way. Lowe's is also working on ways to attract more commercial business, from customers such as apartment and hotel maintenance departments, painters, handymen and the like, Niblock said. The company plans to open 45 new stores this year, compared with 62 last year. It has about 1,700 stores, with more than 166,000 full time workers and 73,000 part timers....The chain has 14 stores in the Triangle. Value remains important to shoppers right now, as they reorder their priorities and tackle more home projects themselves, Niblock said. Lowe's has seen continued increases in the use of debit cards and a drop off in use of its proprietary credit card, due in part to credit card law changes barring introductory offers that involve making no payments for a certain amount of time. However, he said, relatively improved confidence and optimism has prompted people to spend a bit more on products that aren't strictly necessities, such as mowers, grills and patio furniture....That helped Lowe's first quarter results, announced this month: Though sales and profit

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The News & Observer - Business: Lowe's doing more with less