{"id":396355,"date":"2020-12-09T08:33:30","date_gmt":"2020-12-09T13:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396355"},"modified":"2020-12-09T08:33:30","modified_gmt":"2020-12-09T13:33:30","slug":"lowes-unveils-strategy-to-drive-market-share-acceleration-at-its-2020-investor-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lowes-unveils-strategy-to-drive-market-share-acceleration-at-its-2020-investor-update\/","title":{"rendered":"Lowe’s Unveils Strategy to Drive Market Share Acceleration at its 2020 Investor Update"},"content":{"rendered":"
\n

–Updates Long-Term Financial Targets–<\/h2>\n

–Announces New $15 Billion Share Repurchase Program–<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n MOORESVILLE, N.C.<\/span>, Dec. 9, 2020<\/span> \/PRNewswire\/ —\u00a0Lowe’s Companies, Inc. (NYSE: LOW) is hosting a virtual Investor Update today.<\/p>\n

\n

\n
\n \"Lowe's
\n <\/a>\n <\/p>\n<\/p><\/div>\n

Building on its strong execution of its retail fundamentals strategy, the company will be introducing the Total Home<\/i><\/b> strategy to further accelerate market share gains.\u00a0 <\/p>\n

“At Lowe’s we will be committed to offering everything a homeowner needs to provide a “total home solution” across every area in the home.\u00a0 This includes products and services for everything needed to repair and improve the home, for DIY and Pro customers alike, across all d\u00e9cor categories including paint, as well as simple and complex installations,” said Marvin R. Ellison<\/span>, Lowe’s president and CEO.\u00a0 “Our Total Home<\/i><\/b> strategy will enhance customer engagement and grow market share by intensifying our focus on the Pro customer, expanding our online business, modernizing installation services, improving localization efforts and elevating our product assortment.”<\/p>\n

Today’s presentations include the company’s strategies to grow market share, drive productivity and deliver a seamless, omnichannel experience while maximizing sustainable shareholder value creation.\u00a0 Additionally, the company is providing scenario planning detail for its 2021 financial performance to offer increased transparency in this unprecedented operating environment. <\/p>\n

“As we drive market share gains and focus on targeted productivity initiatives, we expect to improve operating efficiency and generate robust levels of free cash flow,” commented David M. Denton<\/span>, Lowe’s executive vice president and CFO. “We are committed to investing in the business, including expanding our supply chain network to enhance our omnichannel capabilities.\u00a0 Through our disciplined capital allocation program, we are allocating cash to enhance returns and drive long-term shareholder value creation.” <\/p>\n

Underscoring its commitment to return excess cash to shareholders, the Board of Directors has authorized a new $15 billion<\/span> common stock repurchase program.\u00a0 This new repurchase program has no expiration date and adds to the previous program’s balance, which was $4.7 billion<\/span> as of December 8<\/span>, 2020.\u00a0 <\/p>\n

Lowe’s reiterates its outlook for operating results for fourth quarter 2020 as previously released and provides its 2020 full-year outlook that incorporates the fourth quarter expected results.<\/p>\n

\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n Lowe’s Business Outlook<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Fiscal Year 2020 <\/b>(comparisons to fiscal year 2019)<\/p>\n