Mon, Feb. 15, 10:42 AM
- Lowe's (NYSE:LOW) recommends that shareholders reject a mini tender offer from TRC Capital for up to 2M shares at $61.25 per share.
- The company notes the offer may be meant to catch investors "off guard" with shares pressured over the last few weeks following an acquisition announcement.
- Shares of Lowe's closed at $64.87 on Friday vs. a 52-week range of $62.62 to $78.13.
- The biggest news this month on Lowe's has been the buyout of Canadian chain Rona. SA contributors have been busy analyzing the pros and cons of the deal.
- Is It Smarter To Buy A Cheap Business Or A High Quality One? (Feb. 4)
- Lowe's: Acquisition Confirms Stretched Valuation (Feb. 4)
- To RONA's Shareholders: Take The Money And Run (Feb. 6)
Thu, Feb. 11, 11:46 AM
- There's some nervous trading on stocks associated with consumers spending money on their houses. Today's macroeconomic news and stock market decline are cutting into confidence over consumer spending patterns.
- Pier 1 Imports (PIR -7.9%), Mattress Firm (MFRM -3.1%), Tile Shop (TTS -2.9%), Lumber Liquidators (LL -5.8%), Restoration Hardware (RH -3.6%), Bed Bath & Beyond (BBBY -2.5%), La-Z-Boy (LZB -3%), Kirkland's (KIRK -2.3%), and Williams-Sonoma (WSM -2.5%) are all lower than broad market averages.
- Lowe's (LOW -1.5%) and Home Depot (HD -1.2%) are showing a milder loss.
Wed, Feb. 3, 12:48 PM
- Lowe's (LOW -8.1%) is sharply lower after acquiring Canadian home improvement chain Rona. It appears likely that the misadventures of Sears and Target in the stretched-out nation are factoring in.
- The company notes trends are improving at Rona and sees synergy building up over time.
- BMO Capital Markets thinks the deal will win regulatory approval in Canada.
- Previously: Lowe's acquires Rona (Feb. 03 2016)
Wed, Feb. 3, 7:13 AM
- Lowe's (NYSE:LOW) announces it will acquire Canadian chain Rona for $2.3B.
- The company expects the transaction to be accretive to earnings in the first year after closing.
- Lowe's made a run at Rona four years ago, but was turned away.
- LOW +0.22% premarket to $72.03.
Thu, Jan. 28, 10:07 AM
- A warning from the World Health Organization on the Zika virus spreading rapidly in the Americas is creating a stir.
- "The level of alarm is extremely high," said WHO director general Dr. Margarat Chan.
- The outbreak is of a particular concern in Brazil where the Summer Olympics are due to be held in August. Some airlines (LFL, GOL) could be impacted negatively.
- If Zika spreads closer to the U.S., sales of mosquito-related products could soar at companies such as Spectrum Brands (SPB +1.3%), Home Depot (HD +0.1%), Lowe's (LOW), and S.C. Johnson (similar to how cases of Ebola in the U.S. led to big sales gains at Clorox an Grainger on disinfectants).
Sat, Jan. 23, 2:46 PM
- The economic cost of the blizzard hitting the East Coast could run as high as $850M, according to a forecast from Planalytics.
- The tally includes lost productivity and a lower level of consumer spending over the duration of the storm - even after factoring in the impact of consumers stockpiling from chains such as Home Depot (NYSE:HD), Lowe's (NYSE:LOW), Wal-Mart (NYSE:WMT), and Kroger (NYSE:KR).
- The storm is broad enough to impact domestic traffic numbers for restaurant chains (MCD, QSR, WEN, CMG, DENN, DNKN, SBUX) and movie theater operators (RGC, CKEC, CNK, AMC).
- The number of cancelled flights tied to the storm is tracking rapidly toward 10K. U.S. airlines (LUV, AAL, JBLU, UAL, DAL) have become more efficient with managing major storms, but will still take a hit to Q1 revenue.
- Looking ahead: Though harsh U.S. winters have lopped off as much as 1% to 2% from retail sales in the past, the 2015-2016 season still sits comfortably in the historical range used by economists when making their projections.
- Previously: Blizzard rally for HD, LOW, BGG, TTC, ACAT, COLM, and BDE (Jan. 22)
- Previously: Storm alert for Shake Shack and Dunkin' Donuts (Jan. 22)
- Retail ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, IYC, FXD, PEJ, FDIS, RHS, FSTA, SCC, UCC, RCD, PMR, PEZ, UGE, PSL, PSCC, PSCD, SZK, BITE
Fri, Jan. 22, 10:36 AM
- Investors are placing some bets on select winter storm stocks as the East Coast preps for a snow pummeling.
- Home Depot (HD +3%) and Lowe's (LOW +1.9%) continue to pick up steam after solid sessions yesterday.
- Briggs & Stratton (NYSE:BGG) is up 5.2% as investors bet on higher demand for generators and snowblowers. Peer Toro (NYSE:TTC) is 3.6% higher.
- Arctic Cat (NASDAQ:ACAT) is up 13% since mid-Wednesday as snowmobiles enter the conversation again after a mild start to the winter in the U.S.
- Winter apparel sellers Columbia Sportswear (NASDAQ:COLM) and Black Diamond (NASDAQ:BDE) are both up around 4%.
Thu, Jan. 21, 10:34 AM
- Stocks tied to consumers pouring money into their houses are ripping gains today. The rally includes home improvement, home building, and home furnishings stocks.
- Gainers include Profire Energy (PFIE +10.1%), Pier 1 Imports (PIR +3.9%), Lumber Liquidators (LL +3.3%), Home Depot (HD +3.9%), Restoration Hardware (RH +2.7%), Bed Bath & Beyond (BBBY +1.7%), Haverty Furniture (HVT +1.1%), Beacon Roofing (BECN +2.1%), Lowe's (LOW +2.4%), Kirkland's (KIRK +3%) and Sears Hometown and Outlet Stores (SHOS +1.9%).
Mon, Jan. 4, 12:37 PM
- Lowe's (LOW -1.9%) plans to enter the home security business through a new monthly monitoring service offered to customers who purchase the Iris smart home product.
- The company is partnering with United Central Control on the wireless home security system.
- Lowe's is showcasing the Iris system at CES this week.
Dec. 8, 2015, 11:31 AM
- It's breakout time for some stocks tied to home furnishings and home improvement.
- Mattress Firm (MFRM +3.4%), Williams-Sonoma (WSM +1.4%), Select Comfort (SCSS +1.7%), American Woodmark (AMWD +2.7%), Bassett Furniture (BSET +0.1%), Bed Bath & Beyond (BBBY +0.3%), and Kirkland's (KIRK +0.7%), Restoration Hardware (RH +1.1%) are all comfortably ahead of market averages.
- Home Depot (HD +0.1%) and Lowe's (LOW +0.9%)are also putting in modest gains.
Dec. 3, 2015, 1:06 PM
- Moody's forecasts retail sales will improve 4% to 5% during the first half of 2016.
- Sub-sectors expected to see strong earnings growth include home improvement (HD, LOW), auto parts (AN, ORLY, AAP, PBY), and supermarkets (KR, SVU, WMK, SFS).
- Improvement is seen for the restaurant and apparel sub-sectors, although margin gains will be challenging to bring home.
- E-commerce will continue to outperform broad retail, says Moody's.
- Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, IYC, FXD, PEJ, FDIS, RHS, FSTA, SCC, UCC, RCD, PMR, PEZ, UGE, PSL, PSCC, PSCD, SZK, BITE
Nov. 23, 2015, 1:53 PM
- Lowe's (LOW +1.2%) promotes Marci Grebstein to the position of chief marketing officer. She will replace Thomas Lamb who left the company.
- Grebstein has been working at Lowe's as a top advertising exec following stints at Food Lion and Staples.
Nov. 18, 2015, 6:44 AM
- Lowe's (NYSE:LOW) reports comparable-store sales rose 4.6% in Q3.
- Comps for the U.S. home improvement business increased 5%.
- Gross margin rate improved 26 bps to 34.75%.
- SG&A expense rate down 91 bps to 22.89%.
- Merchandise inventory +6.9% to $10.434B.
- Home improvement and hardware stores +13 Y/Y to 1,849.
- FY2015 Guidance: Sales growth: +4.5% to +5.0%; Comparable-store sales: +4.0% to +4.5%; Operating margin: +80 bps to +100 bps; Tax rate: ~38.1%; Diluted EPS: ~$3.29; New stores: 15 to 20.
Nov. 18, 2015, 6:02 AM
- Lowe's (NYSE:LOW): Q3 EPS of $0.80 beats by $0.02.
- Revenue of $14.36B (+5.0% Y/Y) beats by $50M.
- Shares -0.78% PM.
Nov. 17, 2015, 5:30 PM
Nov. 13, 2015, 4:39 PM
- Lowe's (NYSE:LOW) declares $0.28/share quarterly dividend, in line with previous.
- Forward yield 1.6%
- Payable Feb. 3; for shareholders of record Jan. 20; ex-div Jan. 15.
Lowe's Cos., Inc. is engaged in the retail sale of home improvement products. The company offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also offers home improvement products in the following categories: appliances, bathroom, building supply,... More
Industry: Home Improvement Stores
Country: United States