Thursday December 6th, 2012 - 12:36PM
Today, the Lowe’s Cos., Inc. told analysts and investors that it would get back on track by providing a better shopping environment for consumers who will more readily invest in their homes as the housing market revives. The company said its strategy going forward would focus on previously discussed elements of improving value and differentiating product assortment.
As executives outlined the focus of its annual analysts and investors conference in the company's hometown of Mooresville, NC, Lowe's chairman, president and CEO Robert Niblock stated, “We know consumers’ affinity for their homes remains strong even as we emerge from the worst housing downturn since the Great Depression. As a result, we’re focused on transforming Lowe’s to be the first choice for home improvement by providing better experiences. With the infrastructure we have in place and the changes we’re making, we expect to generate significant cash flow for years to come. We will use that cash flow to make investments in our core business, in other strategic opportunities to serve developing home improvement markets and to return capital to shareholders.”
The conference schedule calls for key executives to offer their takes on the company’s future operations. Among the observations of executives entering the meetings:
In his presentation, Bridgeford noted that Lowe's would focus on customer value priorities by delivering competitive prices, consistently providing lowest prices and offering good value for the money. With those ends in mind, Lowe’s will reset substantially all stores by mid-2013. Improving endcap organization and performance will be a priority in the reset, Bridgeford related.