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LOWES COMPANIES INC Annual Report, Year Ended Jan 31, 1994

Filing Date
Filed May 3, 1994
Period End
January 31, 1994
Security
LOW
In the record · 2016–202610-K1110-Q328-K126

LOW filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 126 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Apr ’20Apr ’20
  3. Leadership change8-K · Jun ’22Jun ’22
  4. Deal closed8-K · Oct ’25Oct ’25

01—Abstract

Summary

Summary of the 10-K filed May 3, 1994. Cited figures are marked; the original filing is the authoritative source.

This filing is Lowe's Companies, Inc.'s Form 10-K for the fiscal year ended January 31, 1994, but the content provided is limited to excerpted Exhibit 13 notes on LIFO inventory accounting and a fiscal 1991 store restructuring charge.

It contains no revenue, net income, balance sheet, or cash flow figures, so it cannot support a full assessment of operating performance. The cover page shows 148,210,288 common shares outstanding as of April 8, 1994, and an aggregate market value of non-affiliate voting stock of about $3.89 billiona. The company is listed on the NYSE, Pacific Stock Exchange, and London Stock Exchange.

The most relevant investor signal in the excerpt is the rising LIFO charge. Inventory-cost adjustments reduced earnings by $6.0 millionb in fiscal 1991, $9.5 million in fiscal 1992, and $15.5 million in fiscal 1993. Management attributed these charges to rising lumber and building-commodity prices, which increased cost of goods sold under LIFO accounting.

Investors should note that the fiscal 1993 charge was concentrated in the first nine months, with $5.2 millionc recorded in the fourth quarter. The excerpt also discloses a $71.3 million pre-tax store restructuring charge in the fourth quarter of fiscal 1991, tied to the planned shift from a chain of small stores to a chain of large-format stores. To evaluate that strategy's results and the company's overall financial health, investors would need the full Annual Report to Security Holders (incorporated by reference) and the consolidated financial statements.

02—Key points

Key Highlights

  1. Fiscal year ended January 31, 1994; 148.2 million common shares outstanding as of April 8, 1994.
  2. Aggregate market value of non-affiliate voting stock was approximately $3.89 billion as of April 8, 1994.
  3. LIFO inventory charges rose each year: $6.0M (FY1991), $9.5M (FY1992), and $15.5M (FY1993), reflecting lumber and building-commodity price inflation.
  4. Fiscal 1993 LIFO charge was $10.3M through nine months plus a $5.2M fourth-quarter charge, showing cost pressure built late in the year.
  5. A $71.3M pre-tax store restructuring charge in Q4 FY1991 relates to the conversion from small stores to large-format stores.
  6. Listed on the New York, Pacific, and London stock exchanges; no securities registered under Section 12(g).
  7. The excerpt omits sales, earnings, and balance sheet data, which are incorporated by reference from the Annual Report to Security Holders.

03—Questions

Frequently Asked Questions

  1. How large were Lowe's LIFO inventory charges, and why were they rising?

    LIFO charges were $6.0 million in fiscal 1991, $9.5 million in fiscal 1992, and $15.5 million in fiscal 1993. The company attributed them to rising lumber and plywood prices, which increased the cost of inventory sold relative to older LIFO cost layers. Because this excerpt does not include total sales or net income, the charges' proportional impact on margins cannot be calculated from this document alone.

  2. What was the store restructuring charge in fiscal 1991?

    In the fourth quarter of fiscal 1991, Lowe's recorded a $71.3 million pre-tax charge related to its planned conversion from a chain of small stores to a chain of large stores. The excerpt refers to Note 14 of the consolidated financial statements for details, which are not included here.

  3. What is the company's market capitalization and share count?

    The cover page reports 148,210,288 common shares outstanding as of April 8, 1994, and an aggregate market value of about $3.89 billion for voting stock held by non-affiliates on the same date. Total market value would be higher because affiliate holdings are excluded from the non-affiliate figure.

  4. Where can investors find the company's revenue and earnings?

    Revenue, net income, and balance sheet data are not in this excerpt. Per the Documents Incorporated by Reference section, they appear in the Annual Report to Security Holders for the fiscal year ended January 31, 1994 (Parts I and II), which is not deemed filed with this 10-K except for specifically referenced information.

04—Continue

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