Summary
Lowe's Companies, Inc.'s 2011 10-K filing presents the company as the world's second-largest home improvement retailer, operating 1,749 stores across the U.S., Canada, and Mexico as of January 28, 2011. The company emphasizes its strategy to be the "first choice for home improvement" by offering a comprehensive product selection, a full-service experience, and competitive value to a diverse customer base, including homeowners, renters, and commercial businesses. The filing details Lowe's market position within a U.S. home improvement market estimated at $570 billion in 2009, which experienced a significant decline but showed signs of recovery. The company acknowledges the impact of macroeconomic factors such as unemployment, home prices, and housing turnover on consumer demand. Despite these challenges, Lowe's is focused on expanding its international presence, particularly in Canada and Mexico, and investing in its online platform, Lowes.com, to complement its physical store network and enhance customer engagement.
Financial Highlights
49 data points| Revenue | $48.81B |
| Cost of Revenue | $31.66B |
| Gross Profit | $17.15B |
| SG&A Expenses | $12.01B |
| Operating Expenses | $13.92B |
| Interest Expense | $332.00M |
| Net Income | $2.01B |
| EPS (Basic) | $1.42 |
| EPS (Diluted) | $1.42 |
| Shares Outstanding (Basic) | 1.40B |
| Shares Outstanding (Diluted) | 1.40B |
Key Highlights
- 1Operated 1,749 stores across the U.S., Canada, and Mexico, with plans for 25-30 new store openings in fiscal 2011.
- 2Engaged in a joint venture with Woolworths Limited to develop home improvement stores in Australia.
- 3Targeted customers include DIY homeowners, do-it-for-me (DIFM) customers, and Commercial Business Customers.
- 4The U.S. home improvement market was estimated at $570 billion in 2009, experiencing an 11% decline but showing signs of recovery, with the retail sector (NAICS 444) revenue increasing by 6.1% in 2010.
- 5Key economic indicators monitored include unemployment, home prices, personal income, housing turnover, and home ownership levels.
- 6Lowe's offers a wide range of national brand and private brand products, with approximately 40,000 SKUs stocked in a typical store and hundreds of thousands available via special order and online.
- 7The company is actively repurchasing shares, with $2.4 billion remaining under a $5 billion authorization as of January 28, 2011.