Content about Mooresville

March 24, 2014

Like most Americans, the editorial staff of HCN has been watching a lot of basketball lately. It’s all part of the national tradition known as March Madness, the 64-team single-elimination tournament designed to break your heart and bust your bracket.

February 28, 2014

Sales to pros are growing faster than sales to consumers at Lowe’s, which recently reported a fourth quarter sales gain of 5.6%.

According to Chief Customer Officer Greg Bridgeford, the Mooresville, N.C.-based retail giant sees an opportunity to capitalize on the pro market.

February 26, 2014

Mooresville, N.C.-based Lowe’s reported fourth quarter sales of $11.7 billion, up 5.6% from the same quarter last year, as comps increased 3.9%.

The company posted fourth-quarter net earnings of $306 million, up 6.3%.

November 21, 2013

Lowe’s CEO Robert Niblock said the Mooresville, N.C.-based retail giant saw strength in all parts of the country in the third quarter. 

As the company reported 6.2% comparable store sales gains, it also saw comps grow in 11 of 12 product categories. 

The only category to slip was outdoor power equipment. Niblock explained the catgory “was achieving solid positive comps into the last week of the quarter when faced with a substantial headwind from the sales of generators, the result of Superstorm Sandy.”

November 20, 2013

Mooresville, N.C.-based Lowe's reported a solid third quarter, with sizable gains in earnings and sales.

The company's net earnings increased 26.0% to $499 million. Sales for the quarter jumped 7.3% to $13.0 billion, up from $12.1 billion in the year ago quarter. Comparable sales for the quarter increased 6.2%. 

September 1, 2013

Mooresville, N.C.-based Lowe’s completed its acquisition of 72 Orchard Supply Hardware stores for some $205 million in cash.

Lowe’s also assumes payables owed to nearly all of Orchards’ supplier partners.

August 22, 2013

Lowe's COO Rick Damron told investors the retailer's second-quarter performance was balanced across categories as well as geographic regions. 

On Wednesday, the Mooresville, N.C.-based company reported second-quarter sales gains of 10.3% to $15.7 billion.  

August 22, 2013

Mooresville, N.C.-based Lowe's CEO Robert Niblock added some color to the company's plans to acquire 72 Orchard Supply Hardware stores. 

Earlier this week, the federal antitrust review and bankruptcy court approved Lowe's $205 million bid. In comments to investors Wednesday, Niblock said he expected the deal to close at the end of August.

August 21, 2013

Mooresville, N.C.-based Lowe's Cos. reported second-quarter sales of $15.7 billion, up 10.3% from $14.2 billion in the same quarter last year.

Comp-store sales for the world's second-largest home improvement retailer were up 9.6%, as net earnings jumped 16.2% to $1.48 billion.

July 16, 2013

Bloomberg is reporting that Orchard Supply Hardware Stores Corp. received bankruptcy court approval for $176.3 million in financing. 

The debtor-in-possession loan will fund operations at some 60 Orchard Supply Stores, as the California chain awaits finalization of an acquisition offer put forth by Mooresville, N.C.-based Lowe’s. 

June 19, 2013

No matter how you slice them, the numbers of the HCN Top 300 Industry Scoreboard reflect the rising housing market, increased spending on the home and an easy comparison with the previous year's performance.

Of the leading 300 home channel retailers, 277 show positive sales in the most recently completed finished fiscal year, and 12 show declines. Eleven others are listed as flat.

June 10, 2013

Mooresville, N.C.-based Lowe’s has begun nationwide movie-themed Build and Grow clinics for kids, featuring projects from animated films, including the new “Monsters University,” and the 1995 hit “Toy Story.”

The special hour-long clinics, recommended for children in grades two through five, will take place on select Saturdays at 10 a.m. and Sundays at 2 p.m. throughout the summer, the company announced. 

May 22, 2013

Mooresville, N.C.-based Lowe’s reported net earnings of $540 million for the quarter ended May 3, 2013, a 2.5% increase over the same period a year ago. 

Sales for the quarter decreased 0.5% to $13.1 billion from $13.2 billion in the year-ago quarter. Comparable-store sales for the quarter decreased 0.7%. 

February 11, 2013

Facing a potential public relations battle, the retail chain promotes plans for the smallest Lowe’s in New England.

Mooresville, N.C.-based Lowe’s formally announced its plans to build a home improvement store in Dennis, Mass., while at the same time unveiling a website promoting the store’s virtues. 

The proposed store is smaller than Lowe’s standard prototype, which, according to the retailer reflects its efforts to submit a design that best serves Dennis and Cape Cod customers and also fits within the community character of the area.

January 30, 2013

The Mooresville, N.C.-based home center giant promoted Stephen Szilagyi to oversee logistics and distribution.

Mooresville, N.C.-based Lowe’s has promoted Stephen Szilagyi to the post of supply chain executive, responsible for overseeing Lowe’s state-of-the-art logistics and distribution network that expedites the replenishment of merchandise and supplies to all Lowe’s stores.

He will report to Rick Damron, chief operating officer.

January 25, 2013

Michael Jones comes to the No. 2 home center chain from Husqvarna.

Mooresville, N.C.-based Lowe’s has hired Michael Jones as its chief merchandising officer. 

Jones will be responsible for the merchandising offering for Lowe's stores and Lowes.com as well as all global sourcing activities. He will report to chief customer officer Gregory M. Bridgeford.

January 4, 2013

According to a report in the Washington Business Journal, Lowe’s plans to open in the Washington, D.C., area. 

The journal reported that the Mooresville, N.C.-based retailer will open a 130,000-sq.-ft. store in a retail development anchored by Costco Wholesale Corp. The project is reportedly being developed by Fort Lincoln New Town Corp.

January 3, 2013

Mooresville, N.C.-based Lowe’s will unveil the next wave of products and services for Iris, its cloud-based smart home solution, at the 2013 International Consumer Electronics Show. 

Iris enables homeowners to monitor and control their homes from anywhere via smartphone, tablet or computer with a free basic level of service. Lowe’s will showcase more than 15 new Iris devices and services developed since the smart home solution’s launch in 2012 at the show.

December 5, 2012

Mooresville, N.C.-based Lowe’s is telling investors and analysts that changes are in the works, a message it has delivered steadily over the last several quarters.

November 19, 2012

Mooresville, N.C.-based Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago. Revenues increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion.

August 20, 2012

Mooresville, N.C.-based Lowe’s posted declines in net sales, comp-store sales and earnings in the second quarter ended Aug. 3.

“Our results fell short of our overall expectations,” said Robert Niblock, Lowe’s chairman, president and CEO. “However, I have confidence in our strategy and in our employees, and while we recognize the significant magnitude of change that we’ve asked the organization to absorb as we transform our business, we fully understand that we must improve our level of execution.”

June 12, 2012

According to an article in the Tampa Bay Times, Lowe’s will not build a planned store in Tarpon Springs, Fla.

The Mooresville, N.C.-based retailer reportedly invested some $3 million in the project, which was four years in the making, but decided the project wasn’t in the company’s best interest. 

June 4, 2012

At its annual meeting Friday, Lowe’s CEO Robert Niblock said that uncertainty remains in the marketplace, but the Mooresville, N.C.-based company is increasingly leveraging technology to build stronger relationships with customers. 

April 23, 2012

Mooresville, N.C.-based has Lowe’s created two new positions for high-ranking executives. The promotions for Greg Bridgeford and Rick Damron are described by the company as an effort to support the retailer’s customer experience goals.

The promotions will take effect May 5.

With more than 30 years of experience in home improvement, Bridgeford, 57, will become chief customer officer, responsible for creating experiences that will best serve customers and differentiate Lowe's from its competitors.

April 14, 2012

Mooresville, N.C.-based announced today that Michael K. Brown, executive VP and chief information officer, has announced plans to accept the company's Voluntary Separation Program and retire after almost 28 years with the company.

The company has already begun a search for a chief information officer. Brown will continue to serve in his present role for a period of time to assist with the transition.