Lowe's is announcing Q4 results on Wednesday? Any predictions?
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Home Depot had a great quarter and announced after market close yesterday 2-24. Today 2-25 their stock is down $2.37 a share. Lowe’s is currently down $4.31 a share, or twice the percentage of Home Depot.
Wait until tomorrow. It’s going to be a train wreck.
I predict the niglet will lie
I'm an ex-Lowes employee and still try to do as much business with them as possible. I had an OK time at Lowes and did not leave with any malice on both sides.
Currently I am a project manager for a real estate developer in Annapolis and managing a job currently in Baltimore County.
I was trying to order 22 stoves for an upscale housing development near Essex. I found on the Lowes site exactly what I needed and called three Lowes stores to see if I could purchase all of them on one day.
No stores had all that I required, but together I was able to purchase all 22 stoves that the supervisor at each store said they had in stock. I was going to have them all picked up on the next day.
The next morning we started at White Marsh where there were supposedly 8 in stock. The only one they had in stock was a floor model and one returned in the back.
Towson had two of the seven that we were told they had (one was not in the box). The situation at Timonium was worse than the other two stores combined.
Long story short - we cancelled the order and will not do business with Lowes any longer.
If what is happening in my state with respect to the extreme shortage of major appliances is happening nation wide then I would expect Lowe's to have had a very bad quarter. The situation is so bad that we have been out of practically every refrigerator we have on display since mid November. When product does arrive it often falls short of even covering the current negatives (i.e., product already sold). Order replenishment is now reporting many models will not be back in stock till mid March! Our appliance sales are flat lining and about the only time we are able to salvage the sale is if the customer is ordering an actual SOS (Special Order Sale) model which bypasses our normal supply chain. So much for "staying in stock". From what I am hearing very few stores in our area bonused on account of the staggering drop in appliance sales. I am sure corporate will blame it on disgruntled sales specialists or some other BS and not own up to them not issuing sufficient purchase orders in the 3rd & 4th quarters.
It’s bad we came in way under projections. No way to fudge the numbers . My guess is they will blame Canada for dragging down the company and continue to close stores in that market. No bonuses this year and more mass layoffs to come.
At our all store meeting our manager told us that we’re were on of the few stores that were “up” in the district.
But I agree there will be much creative bookkeeping and sharing of clever truths to make Marvin and friends look good. After all Lowe’s did eliminate positions to get the money to make bobble heads of Marvin and friends something that he did at Home Depot.
Plenty of number fudging and despite all stores being down, we have an “outstanding” quarter.