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LOWE'S COMPANIES, INC.

(LOW)
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Delayed Nyse  -  04:04 2022-10-06 pm EDT
199.98 USD   +0.48%
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Lowe's Companies, Inc. : Hurricane Sandy – Lowe’s Store Closures and Product Update

10/29/2012 | 03:17pm EDT

To assist with continued coverage of Hurricane Sandy, Lowe's offers the following updates. Please remember local experts are available in your market to provide tips on hurricane prep and recovery, generator safety and flood recovery.

Store closures:

While as many as 200 Lowe's stores could be potentially impacted by the storm, all of our stores are equipped with emergency backup generators and can quickly open when it's safe after a storm. During past storms, Lowe's stores have been able to open within hours after a hurricane hits.

Lowe's will close stores as soon as instructed or if the safety of customers and employees becomes a concern. The safety of our customers and employees is our top priority. Currently, Lowe's has closed or has scheduled to close 74 stores in Delaware, Maryland, New Jersey, New York and Pennsylvania.

A full list may be found HERE.

Quote from Terry Johnson, Lowe's senior vice president of store operations:

"There are two things that are driving store closures - local government and the fact that stores located very close to the coast may experience a high storm surge. Lowe's wants to make sure we get people out of harm's way as soon as possible. We are working with each store to determine the best plan of action for staying safe throughout Hurricane Sandy. We also work directly with Accuweather to determine the storm's path and identify the stores that will be in the impact zone."

Product:

Lowe's is currently monitoring approximately 200 locations in the path of Hurricane Sandy. More than 400 truckloads of generators and water have been delivered to stores in our Northeast markets over the past four days. More than 200 truckloads have been sent to our Regional Distribution Centers to deploy additional emergency products including batteries, flashlights, chainsaws, tarps, extension cords, cleaning supplies and shop vacs.

Product continues to be in high demand throughout the Northeast as millions get ready for this storm. Lowe's is focusing specifically on products customers need to prep and recover. Lowe's Emergency Command Center anticipates customer demand during severe weather, and we are able to replenish store shelves very quickly. Lowe's has a network of strategically located Regional Distributions Centers, including four located near the areas predicted to be affected by Hurricane Sandy. We are expediting extra supplies and replenishing products in demand via these distribution centers.

For Immediate Release        

Oct. 29, 2012

***ATTENTION MEDIA PRODUCERS, ASSIGNMENT EDITORS***

AS RESIDENTS PREPARE FOR HURRICANE SANDY, LOWE'S EXPERTISE IS AVAILABLE ANYTIME, ANYWHERE

WHAT:     HURRICANE PREPARATION RESOURCES AND LOCAL EXPERTS ARE AVAILABLE IN YOUR MARKET TO HELP WITH COVERAGE

WHEN:     ANYTIME - DURING HURRICANE SANDY FOR TIPS AND RESOURCES

WHERE:   ANYWHERE - VISIT LOWES.COM/STORELOCATOR TO FIND YOUR LOCAL STORE

WHY:       WHEN SEVERE WEATHER HITS, YOU NEED INFORMATION FAST, BEFORE AND AFTER THE STORM

Throughout the hurricane season, Lowe's is available to help with hurricane prep and recovery coverage, including:

·           In-store and in-studio interviews

·           Hurricane prep tips, product information and demonstrations, including how to install window protection and secure tarps

·           Photos or b-roll of customers stocking up on hurricane prep items. To download high-resolution b-roll, media can visit  https://loweshomeimprovement.sharefile.com/d/sb65c4e1dd934f78b

·           Hurricane recovery and repair tips, demonstrations and information on products, including flood cleanup items

·           Tips on generator, chainsaw and cleaning product safety

·           Severe-weather guides and how-to videos are available online at Lowes.com/Hurricane

TO ARRANGE INTERVIEWS, PHOTOS OR B-ROLL SHOOTS,PLEASE PROCEED DIRECTLY TO YOUR NEAREST LOWE'S STORE. ALL STORE MANAGERS ARE PREPARED TO FIELD MEDIA INQUIRIES. VISIT WWW.LOWES.COM/STORELOCATOR FOR STORES NEAREST YOU.

ABOUT LOWE'S

With fiscal year 2011 sales of $50.2 billion, Lowe's Companies, Inc. is a FORTUNE® 100 company that serves approximately 15 million customers a week at more than 1,745 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world.Lowes.com.

###

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Analyst Recommendations on LOWE'S COMPANIES, INC.
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Financials (USD)
Sales 2023 96 881 M - -
Net income 2023 8 627 M - -
Net Debt 2023 29 164 M - -
P/E ratio 2023 14,8x
Yield 2023 1,94%
Capitalization 124 B 124 B -
EV / Sales 2023 1,58x
EV / Sales 2024 1,61x
Nbr of Employees 270 000
Free-Float 99,9%
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Technical analysis trends LOWE'S COMPANIES, INC.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 30
Last Close Price 199,98 $
Average target price 244,43 $
Spread / Average Target 22,2%
EPS Revisions
Managers and Directors
Marvin R. Ellison Chairman, President & Chief Executive Officer
Brandon J. Sink Chief Financial Officer & Executive Vice President
Seemantini Godbole Chief Information Officer & Executive VP
Jeff R. Vining Vice President & Associate General Counsel
Ralph Alvarez Independent Director
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