CNBC- Lowe's shares fall as fourth-quarter sales, outlook for fiscal 2020 fall short of estimates
PUBLISHED WED, FEB 26 2020 6:12 AM EST
UPDATED 12 MIN AGO
As all of the current and former employees knew would happen. Hold on to your hats. The cutting will get even worse now!
who the hell hired that dumb girl as an asm at abingdon, md. she knows nothing. danielle or some c-ap name like that.
IF you take more than just a rudimentary look at the numbers, you can see that the company actually had a good quarter. Taking out the one-time charge for closing stores in Mexico and some in Canada, the earnings beat estimates at .94/share. The comp sales figure could have been better, but the earnings figures are going in the right direction.
We are down to one person at customer service. All associates on the floor are required to pull internet orders.
There’s not enough employees on the floor to cover the departments, service customers, pull internet orders, and now they want us to ring registers too!!!
Our internet coordinator was given .25 raise as a consolation prize for not getting head cashier.
When they got rid of the desk and dumped it back on customer service they got no raise.
They say it’s because of “flat e-commerce “ sales. They’ve already thrown a lot of $ at that, and have failed miserably.They have hired every I.T. “Expert” in India, and still...NO Change! Maybe they should hire Subway Mgrs instead. Hey....let’s set up a pick up desk and storage racks in every store, and hire an Internet Co-Ordinator to handle the Lowe’s.com orders, only to change our minds a year and a half later,eliminate the pick up desk and the Co-Ordinator position, move the racks again, and throw the internet responsibility to an already over stressed Customer Service desk. mo–ns!!
So if I had 1000 shares I would have lost $ 13000 in the last 3 days. But the good news is I got a 661 dollar dividend. Most holding the stock either have had it forever and are playing with the house’s money, or got it for free and don’t care.
That is why giving stock to CEO s is stupid. Win or lose he walks with way more than he came in with.
One analyst, whose video I viewed, said real sales at Lowe's increased 2.2%
The current rate of inflation is 2.5%, don't think that is keeping up.
Anymore, DUMB idea's Marv?
It's time to get rid of Marvin!
Light the torches and get the pitchforks!!!
So - the stores were credited for growth - BUT in crediting 'strong expense management' (mgmt. speak for strong cost cutting), EXPECT more store cost cutting, They are not cutting at Corp and need to fund new IT Center and trying to get our IT systems into 20th century. I love it when younger people look at green screen cash register and ask 'what is that' when they are checking out with parents.
"Ellison said nearly all sales growth in the quarter came from its brick-and-mortar stores. He touted the company’s “strong expense management” in a news release."
It didn’t stop Marvin from blowing millions of dollars on the Vegas party though.
He’ll cut the throat of the store employees without hesitation. But they just keep wasting money at the top. It’s a shame how he along with his minions have ruined this company.