Lowe's Fortune 500 TURBO Report

Last updated: March 17, 2023

Lowe's Companies, Inc.
1000 Lowe's Boulevard
Mooresville, NC 28117
United States
Phone: (704)-758-1000
Website: http://www.lowes.com
Sector: Consumer Cyclical
Industry: Home Improvement Stores
Full Time Employees: 300,000

The Lowe's databahn TURBO Report was researched and developed with the IT sales executive and the IT marketer in mind. Our goal is simple; eliminate the costly research time and help you identify new sales revenue opportunities.

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Some of the insights & detailed information you can expect to see in the Lowe's databahn TURBO Report:

• Comprehensive Business Description
• Latest Earnings Call Highlights from the CEO
• Accurate Contacts for the Executive Leadership Team and Board of Directors
• Detailed Org Charts on corporate structure, board of directors, and the executive leadership team
• Hand curated content from selected articles, interviews, case studies, and success stories (representing dozens of hours of research)
• Technology Executive Insights to existing IT & telecom systems, projects, initiatives, and internal code names for applications, systems, and IT business units
• Insights gleaned from technology related job descriptions
• Important excerpts and highlights from the Annual Report (10-K)

Available for download now!

LOWE'S EXECUTIVE LEADERSHIP

LOWE'S BOARD OF DIRECTORS

7 KEYS TO OPEN DOORS AT LOWE'S

Lowe's is laying off thousands of store employees under pressure to boost profits

• Lowe's is laying off store workers who handle certain maintenance and product assembly tasks as the home-improvement chain continues to cut costs in a bid to boost profits.
• The chain confirmed that it is "moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers.”
• The number of layoffs is in the "thousands" and described the affected workers as including workers who "put together grills, wheelbarrows and other products."

Lowes Closes 51 Stores

• In 2018, the company announced plans to close 51 stores as new CEO Marvin Ellison, the former head of J.C. Penney, began a campaign to overhaul the company's operations.
• He also ordered the closure of the company's 99 Orchard Supply Hardware stores.

Lowe's opens 1 million square foot central Pennsylvania distribution center

• The newly built 1.2 million-square-foot distribution center is located at 4532 United Drive in southampton Township, Franklin County at United Business Park. The facility will provide daily shipments of appliances and other bulky items such as riding mowers, grills and patio furniture to Lowe’s cross-dock facilities to be delivered to customers.
• The facility also will replenish inventory at more than 130 stores in Pennsylvania, Maryland, Delaware, Virginia, West Virginia, New Jersey and New York. The new facility is part of the company’s plan to invest $1.7 billion to transform its supply chain over the next five years.
• The company says it is building a network of bulk distribution centers and cross-dock facilities to coordinate deliveries at a market level and reduce inventory at regional distribution centers and stores. Lowe’s says that these changes will free up space and associates in stores and enable next-day delivery service for a broader range of products.

Lowes Engineering Team

• The LWS_USA_Lowe's Innovation Labs' Engineering team is headquartered in Kirkland, WA
• The Lowe's Engineering team, headquartered in Kirkland, WA, is responsible for delivering solutions that leverage emerging technologies to solve customer and business problems. This includes building software products using agile methodologies from a prototype in the concept development stage all the way through the lifecycle to full-scale production and integration back into the core enterprise.

Lowe's purchased Boomerang Commerce's pricing technology in May 2019

• “Pricing and assortment planning have been identified as strategic areas in need of modernization. And when we find the right assets available to buy and advance our strategy, we’ll do that.” – Seemantini Godbole, Lowe’s Chief Information Officer

Lowe's shut down its Iris smart home platform in March 2019

• In a move that may seem obvious in retrospect, Lowe’s has decided that its Iris smart home platform is not in fact going to take off.
• Instead, the home improvement-focused retail chain is shutting the service down on March 31st, 2019 and advising all Iris users to kindly avoid taking their no-longer-functioning products back to a Lowe’s store.
• The company says it will however give you some money back in the form of a prepaid Visa card that will help you “migrate to another smart home platform,” reads the company’s website.