December 13, 2011 |
Home improvement giant Lowe's Cos. continues to come under heavy criticism from activists, some politicians and customers after pulling its ads from a reality TV show featuring Muslim Americans. The North Carolina company decided to stop advertising on the show "All-American Muslim," on Discovery Communications Inc.'s TLC channel, after complaints by the Florida Family Assn., a conservative Christian group that lobbies companies to promote "traditional, biblical values. " The association praised the move, but the decision sparked immediate backlash.
May 8, 1999 |
Lowe's Companies Inc., the home improvement retailer, said it named New York-based McCann-Erickson its agency of record and awarded the agency its $100-million broadcast account. The agency, a unit of the Interpublic Group of Companies Inc., will develop Lowe's creative broadcast campaigns. It will also be responsible for strategic planning and media buying for magazines, radio, television and billboards.
May 20, 2003 |
Home improvement retailer Lowe's Cos. said Monday that quarterly profit rose 22%, but sales came in far lower than expected because of poor weather and misjudgment on a key product. Shares of Lowe's, which is moving into markets dominated by industry leader Home Depot Inc., sank 9% in New York Stock Exchange trading. "It's the first time they've sort of stumbled," said Phil Larkins, a portfolio manager at Northern Trust. "My gut reaction is that it's not a deep problem."
November 27, 2009 |
Home Depot Inc. and Lowe's Cos., the largest U.S. home-improvement chains, are stocking fewer fake Christmas trees as shoppers plan to save money by buying the real thing. "As the economy has gotten tougher, artificial trees have become more of a discretionary purchase," Craig Menear, Home Depot's executive vice president of merchandising, said in an interview at a store in Atlanta, its home base. The retailer will stock the same number of cut trees as last year and a smaller percentage of factory-made trees, Menear said.
August 21, 2012 |
Home improvement chain Lowe's Cos. reported that profit dropped 10% in its fiscal second quarter because of competition and weak sales. For the three months ended Aug. 3, the retailer reported net income of $747 million, or 64 cents a share, compared with $830 million, or 65 cents, a year earlier. Sales sank 2%, to $14.2 billion from $14.5 billion. "Our results fell short of our overall expectations," said Lowe's Chief Executive Robert A. Niblock in a Monday statement. "We fully understand that we must improve our level of execution.
October 18, 2011 |
Lowe's Cos., the world's second-largest home-improvement chain, will lay off about 1,950 workers and close 20 stores in 15 states. The store in Westminster in Orange County quietly closed at the end of business Sunday along with nine other Lowe's locations across the country. The other California store that will shut down is in Los Banos in Merced County. The company said in a statement Monday that the Los Banos store and the other still-open locations targeted in the downsizing will close within a month.