Store Operations - As of February 2, 2024, Lowe's operates 1,746 home improvement stores across approximately 195 million square feet of retail selling space[7]. - The company operated 1,746 stores in the United States as of February 2, 2024, following the divestiture of its Canadian retail business[218]. Sales and Revenue - Net sales for the fiscal year ended February 2, 2024, were $86,377 million, a decrease from $97,059 million in the previous fiscal year[209]. - Total net sales for the year ended February 2, 2024, were $86,377 million, down from $97,059 million in the previous year, representing a decline of about 11%[264]. - Revenue from products was $83,002 million, a decrease from $93,392 million, while service revenue was $2,097 million, down from $2,178 million[264]. - The United States generated $86,377 million in sales, down from $92,010 million in the prior year, indicating a decrease of 6.5%[269]. Financial Performance - Gross margin for the fiscal year was $28,844 million, representing 33.39% of net sales, compared to 33.23% in the prior year[209]. - Operating income increased to $11,557 million, accounting for 13.38% of net sales, up from 10.47% in the previous year[209]. - Net earnings for the fiscal year were $7,726 million, or 8.95% of net sales, compared to $6,437 million, or 6.63% in the previous year[210]. - Basic earnings per share rose to $13.23, compared to $10.20 in the previous fiscal year[209]. - Comprehensive income for the fiscal year was $7,719 million, or 8.94% of net sales, compared to $6,780 million, or 6.99% in the previous year[210]. Expenses and Liabilities - The company reported a decrease in selling, general, and administrative expenses to $15,570 million, which is 18.02% of net sales, down from 20.94% in the previous year[209]. - Interest expense increased to $1,382 million, representing 1.60% of net sales, compared to 1.16% in the prior year[209]. - Total liabilities decreased from $57,962 million in February 3, 2023 to $56,845 million in February 2, 2024, a reduction of approximately 2%[212]. Inventory and Assets - Merchandise inventory decreased from $18,532 million in February 3, 2023 to $16,894 million in February 2, 2024, a reduction of approximately 9%[212]. - Total current assets decreased from $21,442 million in February 3, 2023 to $19,071 million in February 2, 2024, a decline of approximately 11%[212]. - The company reported a reserve for loss on obsolete inventory of $245 million as of February 2, 2024, compared to $139 million as of February 3, 2023, indicating a 76.3% increase year-over-year[227]. Environmental and Social Responsibility - In fiscal 2023, Lowe's was included in the Dow Jones Sustainability North America Index for the fifth consecutive year, reflecting its commitment to environmental and social practices[41]. - Lowe's aims to achieve net-zero emissions across its scope 1, 2, and 3 GHG emissions by 2050, with interim targets of reducing scope 1 and 2 emissions by 40% and scope 3 emissions by 22.5% below 2021 levels by 2030[46]. - Over the past three years, Lowe's has invested more than $400 million in energy efficiency and renewable energy projects[47]. - The Lowe's Foundation established the Gable Grants program, committing $50 million over five years to prepare 50,000 individuals for skilled trades careers[42]. Workforce and Talent Development - Lowe's employs approximately 168,000 full-time and 116,000 part-time associates as of February 2, 2024[33]. - The company received over 15 notable employer of choice awards in fiscal 2023, highlighting its commitment to workforce inclusion and diversity[32]. - More than 80% of store leadership positions were filled internally in the last year, demonstrating Lowe's focus on internal talent development[38]. - The company offers a tuition-free education program and the Track to the Trades program, which connects associates with apprenticeship certifications in various skilled trades[40]. Shareholder Returns and Stock Performance - The total share repurchases for the year ended February 2, 2024, amounted to 29.9 million shares at a cost of $6.334 billion[315]. - The company has $14.6 billion remaining under its $15.0 billion share repurchase program as of February 2, 2024[309]. - Cash dividend payments for the fiscal year were $2,531 million, compared to $2,370 million in the previous year, an increase of about 7%[216].

MOORESVILLE, N.C., March 22, 2024 /PRNewswire/ -- The board of directors of Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of one dollar and 10 cents ($1.10) per share, payable May 8, 2024, to shareholders of record as of April 24, 2024. About Lowe's Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe's oper ...

As certain regions of the country saw warmer weather and sunnier days, Lowe's introduced the SpringFest Sneak Peek savings event to empower customers to approach the official spring season with confidence. Right now, customers can save with Sneak Peek deals nationwide online at Lowes.com. Customers can also find great deals, new product offerings and services, plus exclusive perks like DIY-U Workshops for MyLowe's Rewards members.  For the first time, Lowe's will also have exclusive SpringFest Doorbusters h ...

Unfortunately for fans of passive income, there isn't (yet) a "Magnificent Seven" of dividend stocks you can choose from while building up your portfolio. If such a list existed, though, the stocks in it would represent profitable companies with unusually long track records for raising their dividend payouts. To make this exclusive club, a business would also need to be able to pay out a significant portion of annual earnings without risking a dividend cut during economic downturns.Lowe's (LOW 0.04%) might ...

Foundation plans to recruit, train and prepare 50,000 job-ready tradespeopleMOORESVILLE, N.C., March 13, 2024 /PRNewswire/ -- The Lowe's Foundation has selected 10 community-based nonprofits as Gable Grants recipients to enhance their innovative skilled trades training programs. These nonprofits expand the foundation's roster of grant recipients to 24 organizations offering inclusive and scalable training programs in 25 states nationwide. She Built This City (Charlotte) will use the grant to grow its tra ...

Shares of home-improvement retail chain Lowe's (LOW -0.89%) are trading near 52-week highs as of this writing. And considering that the company's earnings per share (EPS) are also at all-time highs, it seems appropriate that its stock would be up like it is.However, it's fair to wonder if this will continue in 2024. On Feb. 27, Lowe's reported financial results for 2023 and gave its financial outlook for 2024. The company expects its sales to drop between 2% and 3% year over year in the coming year. And man ...

Sometimes, it's hard to choose between two good options. That's the case with stocks, too. While no one can predict the future with 100% certainty, you can increase your chances of investing success by looking at each company's fundamentals.Lowe's Companies (LOW 0.10%) and Target (TGT -1.06%) have long been successful retailers -- albeit in different segments. Both also have had some short-term hiccups recently. So which stock offers a better opportunity? Lowe'sLowe's holds a dominant share of the home-impr ...

Lowe's Companies (LOW 0.10%) has absolutely crushed it for investors as shares have climbed 135% in the last five years. That gain far exceeds the 83% rise of the S&P 500. And even with the major indices hitting all-time highs, Lowe's remains 8% below its peak price from December 2021. So the business might be on your watch list as a potential opportunity. In fact, this home improvement retail stock might be considered a screaming buy right now. But that's only if you believe it can significantly increase s ...

Lowe's (LOW) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this home improvement retailer have returned +11.1%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Building Products - Retail industry, which Lowe's falls in, has gained 7.4%. The key question now is: What could be the stock's future direction?While ...

Lowe's Companies (LOW -1.06%) recently reported results for its fiscal 2023 fourth quarter (ended Feb. 2). Net sales of $18.6 billion were 17% lower compared to the year-ago period, with diluted earnings per share (EPS) coming in at $1.77. The headline figures were better than what Wall Street analysts were expecting.Like its larger peer, Home Depot, this business is dealing with ongoing headwinds that pressure demand for home improvement products. As of Feb. 27, the retail stock was 12% below its all-time ...