Robert A. Niblock is the chief executive officer.
Home office is in Mooresville, North Carolina.
Ending date of the fiscal year is February 3, 2012.
They offer a complete line of products for maintenance, repair, remodeling, and home decorating. They offer home improvement products in the following categories: Appliances, Lawn &Landscape, Fashion Electrical, Lumber, Building Materials, Paint, Home Fashions, Storage & Cleaning, Rough Plumbing, Flooring, Tools, Seasonal Living, Millwork, Hardware, Fashion Plumbing, Nursery and Cabinets & Countertops.
Lowe’s open their store anywhere they think that people need them and are willing to spend money on them. Deloitte and Touche LLP are the company’s independent accountants
They said that the company’s financial statements are correct and meet all their aspects and they agree with it.
Yes, independent accountants are responsible for financial statements.
The closing market price was $36.76 per share.
Common Stock, $0.50 par value.
The company traded on New York Stock Exchange.
“LOW” is the ticker symbol.
Industry Situation and Company Plans:
Lowe’s has a lot going on for them in the future and they continue to focus on three main themes, which are: Possibilities regarding home improvement solutions, support and advice along the way, and providing value beyond price. Keeping this promise requires Lowe’s to maintain their promises to retail excellence, develop capabilities to provide seamless support across channels and projects, and simplify the home improvement experience. In order for Lowe’s to keep up retail excellence, they have to value improvement and product differentiation, which will be a good asset for their company. Their main goal for the future to be the most efficient retailers and easy to do business with and have to best price for the customers. To maintain seamless across channels, Lowe’s have to focus on providing a seamless multi-channel experience making it convenient for the customers to engage with them wherever and whenever they want. Lowe’s also invested in technology to make sure that their customers have access to an even wider range of products beyond their stores via Lowe’s.com through the rollout of their flexible fulfillment process. To simplify the home improvement experience Lowe’s launched myLowe’s, an online tool that is unique in the home improvement industry and makes managing, maintaining and improving homes simpler and more intuitive than ever before. This basically gives customers a wide range of abilities to create home profiles, save room dimensions and paint colors, organize owner’s manuals and product warranties, create shopping lists and set recurring reminders for common maintenance items. In 2011, Lowe’s improved on transforming their home improvement retailer to a home improvement company. They remain loyal in their efforts to make home improvement simple by working to deliver seamless, supportive and inspiring experiences wherever and whenever customers engage with them. The progress that they made toward making better customer experiences to drive long-term sales growth, increased profitability and shareholder value. Their strong operating cash flows and balance sheet are allowing them to make difficult near term changes that they believe will have a stronger return in the future. (2011 Lowe’s Annual Report & Letter to the Shareholders’)
The format is most similar to single-step format.
Gross Profit: Gross Margin
FYE 2/3/2012: $17,350
FYE 1/28/2011: $17,152
FYE 1/29/2010: $16,463
Even though the Gross profit is increasing, the percentage of sales is the Lowe’st for 2012.
Income from Operations: Goss Margin - SGA
FYE 2/3/2012: $17,350 - 12,593 = $4,757
FYE 1/28/2011: $17,152 - 12,006 = $5,146
FYE 1/29/2010: $16,463 - 11,737 = $4,726
There was a drop in Income from Operation from last year to current year, but the gross margin and SGA are increasing.
Net Income: Net earnings