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Tag: Lowes

Lowe’s donates over $9 million to help keep homes safe and affordable in Charlotte

Lowe’s Home Improvement store is donating $9.25 million in funding, products and gift cards to organizations in Charlotte to keep “homes safe, healthy and affordable” amid the coronavirus crisis.

Lowe’s announced Tuesday it is making the donations in a combination of funding, products and gift cards to nearly 30 local charitable groups and businesses for affordable housing, skilled trades training and technology, the company announced Tuesday.

The Mooresville-based company is extending how it thinks about the word home, company executive vice president of human resources Janice Little said.

Little told the Observer the donations are another step in the company’s efforts to help with community projects. Lowe’s also has an employee volunteer program that has been focused on affordable housing and skilled trades over the last year.

“We really need to make sure that we can support all members of our community,” she said.

Some of the Charlotte hometown

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Lowe’s gives $100 million more in bonuses to hourly employees

Shoppers wearing protective masks wait in line to enter a Lowe’s Cos. store in San Bruno, California, U.S., on Wednesday, May 20, 2020.

David Paul Morris | Bloomberg | Getty Images

Lowe’s said Wednesday it will give $100 million more in bonuses to hourly employees, as strong demand for home improvement continues.

It marks the sixth time the home improvement retailer has given additional pay to workers at its stores, distribution centers and support centers during the coronavirus pandemic. It gave bonuses to part-time, full-time and seasonal employees in March, May, July and August. It also increased pay by $2 an hour for the month of April. 

With the latest round, the home improvement retailer will have paid more than $675 million in additional pay to employees this year. It will pay the latest bonuses on Oct. 16. Full-time hourly employees will receive $300 and part-time and seasonal hourly employees

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Can Lowe’s Overtake Home Depot’s Top Spot?

Where do you shop for home improvement projects? For many Americans, increasingly, the answer is Lowe’s (NYSE: LOW). Home Depot (NYSE: HD), a Dow Jones Industrial Average component and the largest U.S. home improvement retailer, benefited enormously from the recent positive trends in home improvement. But competitor Lowe’s did even better, and is right on its heels for the top spot. Can Home Depot keep its lead, or is it in danger of being overtaken by Lowe’s?

Why Home Depot needs to worry

Home Depot has been the leading home improvement chain for decades, being the first to create and expand its big box stores across the U.S. Annual sales came in at more than $110 billion in 2019, a 2% increase over the prior year. The company is admired as solution-driven and agile, and as it helps people across the country with do-it-yourself building projects, sales continue

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Lowe’s NFL “Home Team Roster” Is Doing Amazing Community Service Projects Across the Country

Lowe’s

During these tough times of the coronavirus pandemic, we’ve been amazed at how many people—celebrities and regular folks alike—have devoted themselves to helping those in need. Now, we’re happy to hear this piece of feel-good news from Lowe’s, the home improvement store, which has just launched the “Home Team Roster,” a lineup of players from all 32 NFL teams working on various community impact projects in their respective NFL hometowns.

For the partnership, each player will volunteer on a project ranging from affordable housing repairs and small business support to veterans’ outreach and disaster recovery. Lamar Jackson, Baltimore Ravens’ quarterback and 2019 NFL MVP, is serving as “captain” for Lowe’s Home Team, and is very much looking forward to making a difference in Charm City.

For his specific project, the star quarterback will work with Lowe’s and Baltimore’s Southwest Partnership to help with the opening of the United Way

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Lowe’s Gains From Home Improvement Business & Online Sales

Home renovation and maintenance activities have been gaining prominence lately, thanks to increased stay-at-home practices amid the coronavirus pandemic. The trend has been benefiting certain home improvement market players, including Lowe’s Companies, Inc. LOW. This apart, the company’s efforts to expand digital offerings is worth appreciating. These upsides were well-reflected in the company’s second-quarter fiscal 2020 results, with the top and the bottom line improving year on year. Let’s dig deeper.

Bright Prospects in Home Improvements Market

Growing inclination toward home improvement projects is quite visible in Lowe’s second-quarter fiscal 2020 results. Comparable sales (comps) for the company’s U.S. home-improvement business increased 35.1% in the second quarter, following an increase of 12.3% in the first quarter.

In the reported quarter, comps gained from sturdy project demand from DIY and pro customers across channels, product categories and geographies. It saw comps growth of more than 20% across all its merchandising divisions,

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Lowe’s Canada Recruits For Around 625 Jobs In RONA And Reno-Depot Stores In Quebec

(RTTNews) – Lowe’s Canada, affiliated to home improvement retailer Lowe’s Companies, Inc. (LOW), announced Wednesday that it is currently recruiting for positions in its RONA and Reno-Depot corporate stores in Quebec.

The company plans to fill more than 625 full-time and part-time regular positions in these stores.

Further, about 30 positions are available at the Boucherville distribution centre.

Lowe’s Canada said it offers associates several benefits, including a student incentive program providing a minimum of $200 to eligible associates in position for least three months, an award program, a flexible schedule, and exclusive discounts.

Marc Macdonald, Senior Vice-President, Human Resources at Lowe’s Canada, said, “We are looking for dynamic, customer-oriented individuals from all backgrounds, with or without experience, to immediately join our teams across the province, particularly in the Montreal Metropolitan Community, Gatineau, and Quebec City. As we navigate through uncertain times, we offer multiple career opportunities, stable and rewarding

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Lowe’s, ‘Shark Tank’ star Daymond John launch effort for small businesses

As many small businesses face challenges during the coronavirus pandemic, Lowe’s is giving them a shot to get their products on its store shelves and website.

Lowe’s CEO Marvin Ellison said Tuesday on CNBC’s “Squawk on the Street” that the home improvement retailer is teaming up with Daymond John, a star of ABC’s “Shark Tank,” to mentor entrepreneurs across diverse backgrounds, listen to their pitches and narrow the pool to standouts. The initiative will ultimately culminate in a one-day pitch competition judged by Lowe’s executives and hosted by John.

“Although we’re a big company, we’re fortunate to be classified as an essential business, we understand that the success of our broader macro economy is going to be the small businesses and the ability for small businesses to continue to grow and thrive,” Ellison said. “We understand that Covid-19 has created an incredible strain on the economic viability of many of

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Home Depot and Lowe’s care about aging homes, not new houses

  • New housing starts soared over the summer, but that doesn’t matter much to home improvement retailers like Home Depot and Lowe’s.
  • Speaking at Goldman Sachs’ virtual retail conference this week, the CEOs of both companies clarified that their businesses are not dependent on new home construction.
  • In fact, Lowe’s CEO Marvin Ellison said that the aging housing stock in the US is good for business. 
  • “If you’re living in one of those aging homes, it’s going to lend itself to you making those investments to modernize,” he said.
  • Visit Business Insider’s homepage for more stories.

When it comes to the home improvement business, fixing up an older home is a far more lucrative than building a new one from scratch. 

That is at least the case for retailers like Home Depot and Lowe’s. The CEOs of both companies recently made comments during Goldman Sachs’ annual Global Retailing Virtual Conference suggesting

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Lowe’s Stock Can Keep Rallying Because People Will Be Spending More Time at Home for Longer

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Lowe’s shares have rallied as the pandemic has spurred people to spend more money fixing up their homes.


Justin Sullivan/Getty Images


Lowe’s

stock has jumped some 35% in 2020, as demand booms amid the Covid-19 pandemic. Loop Capital argues the shares could see another 20% gain, as consumers continue to pour money into their homes.

Analyst Laura Champine reiterated a Buy rating on Lowe’s (ticker: LOW) shares Wednesday, while raising her price target to $195 from $180.

She is increasingly confident that the company will continue to see sales boosted by the crisis, as people realize that they’ll likely be spending more time at home for longer, and need that space to serve more needs than it used to.

Indeed, as Barron’s has reported, the majority of the nation’s public school students were set to start the academic year remotely, while employers warm up to the idea of

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3 Ways Lowe’s Topped Home Depot This Quarter

The results are in, and it’s clear that the home improvement industry was booming in the second quarter. Both Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) announced more than 20% sales growth along with soaring profits as consumers redirected spending from categories like eating out and vacationing toward their homes.

Yet for the second quarter in a row, Lowe’s bested its larger rival in some key categories, including revenue gains. Let’s look at that metric and two others that suggest Home Depot has some work to do to close the performance gap between the two businesses.

A man and a woman paint a room together.

Image source: Getty Images.

1. Building on the growth wins

Since he took over the CEO spot in mid-2018, Marvin Ellison, who used to be an executive at Home Depot, has been telling investors that Lowe’s can compete at the top of the home improvement industry.

Ellison finally has some solid sales metrics to support

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