Content about Robert Niblock

One of the ways Lowe’s says its competing in the price wars -- especially with Internet retailers -- is a merchant mind-set of “dead net pricing.” 

Speaking at the UBS Global Consumer Conference Wednesday, Lowe’s CEO Robert Niblock described his company’s improvements in the price wars.

An Oct.

Of all the Home Depot metrics that were reported in its second quarter — including double-digit earnings gains — the comparable-store sales metric of positive 2.1% doesn’t jump off the page.

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.”

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. 

Describing 2011 as a pivotal year for the nation’s No. 2 home center chain, Lowe’s executives continued to hammer on their theme transformation from retailer to a “home improvement company” during its annual conference last month.

What exactly is a home improvement company? CEO Robert Niblock explained.

Lowe's has big plans. That's another way of saying it has a lot on its plate. 

During a third-quarter earnings call in which Lowe's CEO Robert Niblock described the company's performance as below its expectations, he was asked about distractions and changes and their impact on results. 

The CEO went on to explain that it's better to consolidate changes and get through them quickly than to wait for things to get better. 

On the eve of the company’s second-quarter earnings announcement, Lowe’s closed seven underperforming stores. 


Shuttered are locations in Meriden, Conn.; Riverdale, Ga.; Elgin and Schaumburg, Ill.; Kenai, Alaska.; Cambridge, Minn.; and Ticonderoga N.Y.


Obviously, the move upset the affected communities. For instance, Alaska Senator Lisa Murkowski complained of the lack of notice. But CEO Robert Niblock is paid to make tough decisions, which is how he described the seven closings.


Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro-environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

According to an Associated Press report, Lowes' CEO Robert Niblock's pay package rose to about $12 million in 2010, up 3% from the previous year.

Niblock received a base salary of $1.1 million, but the bulk of his pay came in the form of stock and option grants, according to the article.

In the 1980s, when Lowe’s decided to change from a chain of southeastern contractor yards to a nationwide big-box retailer, the company knew it wouldn’t happen overnight. But a steady vision, stable leadership and good relations with Wall Street made the goal a reality. Today, the North Carolina-based company has more than 1,725 warehouse-sized stores in all 50 states plus Canada and Mexico. 

Now it’s time for another change. 


Mooresville, N.C.-based Lowe’s Cos., announced today the appointment of Michael Brown to EVP and chief information officer.

Brown replaces Steven Stone, who is leaving the company to pursue other interests.