...Accounting/Financial Analysis Of Lowe's Inc. Lowe’s is the world’s second largest home improvement retailer and operated 952 stores in forty five states at their fiscal year ending January 30, 2004. The company is currently in the midst of the most aggressive expansion in its history with 130 new stores opened in 2003 and another 140 slated for this year. Lowe’s saw 2003 sales reach approximately $30.8 billion, due largely to their focus on the retail customers and home-improvement projects. Fifty eight years ago Lowe’s began as North Wilkesboro Hardware Company, a neighborhood hardware store fittingly named after the small town it was located in. Owned by partners H. Carl Buchan and James Lowe, this concept was more than a living, it was a vision of creating a chain of hardware stores. The concept was easy and straight forward. Lowe’s concentrated on selling only hardware, appliances and hard-to-find building materials while eliminating wholesalers and dealing directly with manufacturers to establish a reputation of offering the lowest prices. The company went public in 1961 and began trading on the New York Stock Exchange in 1979 (NYSE:LOW). In 1982, Lowe’s had its first billion-dollar sales year, earning a record profit of $25 million, establishing them as an industry force. Lowe’s has posted extremely strong numbers in the past few years and the company has grown rapidly, swelling it’s store base from 500 to over 950. Sales have increased an average of 20% per year...
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...Lowe’s Home Improvement Stores Sheila Thomas Webster University Abstract Lowe’s exists to help customers improve and maintain their biggest asset- their home. We do this by meeting the changing needs of our customers by providing inspiration and support whenever and wherever they shop. Whether our customers shop in store, online, by phone, or if we’re meeting them at their home or place of business, Lowe’s is ready to help. In our more than 1,830 stores, we have implemented multiple systems to improve the customer experience, including an upgraded store information technology infrastructure that allows customers and employees to access richer product information, enjoy an endless aisle of product choices and manage their projects from inspiration to enjoyment (Lowe’s.com). Online, we are rapidly expanding our assortments to offer customers a broader range of products that can be researched and purchased online, in store or via our mobile app. MyLowe’s makes it easy for our customers to automatically track and store all purchases on their online customer profile. We’ve vowed to “Never Stop Improving” so we can satisfy the ever-changing needs of our customers (Lowe’s.com). Lowe’s operates more than 1,830 stores in the United States, Canada and Mexico. We serve approximately 15 million customers each week and employ more than 260,000 people (Lowe’s.com). Our stores stock 12 product categories ranging from appliances and tools, to paint, lumber and nursery...
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...Ethics and Compliance Paper Shalom J. Duarte, Chris Campbell, Eric Newhart, & Ron Reda FIN/370 June 18, 2013 James Campbell Ethics and Compliance Paper Strategic planning and financial preparation are vital to ensure the success of big retail corporation such as Lowes. This type of planning happens when a company sets up both long term and short term goals for their strategic marketing and planning to achieve financial success. Strategic initiatives can be created in various areas, such as in the area of new products being rolled out and new departments being created. In particular a strategic plan, determines a company’s long term goals and then identifying the best approach for achieving those goals. From the financial perspective, financial planning initiatives are long-term plans aimed at generating capital with objectives focused on greater return on assets, growth in market share, and at solving foreseeable problems. When Strategic plans are met, such as plans focused on certain products or departments, it helps the overall health of the company’s financial status in different areas such as with the store’s revenue, over head spending control, and maintaining a store’s budget. Both Strategic and financial planning share the same company goals for success and the understanding of where the financing must come from to accomplish these goals. Lowes is a leader in home improvement and is committed to never stopping improvement. Lowes mission is to deliver...
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...Strategic Audit of Lowe’s Companies, Inc. | Explore Page 1 of 70 Home Blog Contact Site Map Explore Learn. Live. Share. http://www.jacobcamp.com/2011/05/29/strategic-audit-of-lowes-companies-inc/ 5/25/2012 Strategic Audit of Lowe’s Companies, Inc. | Explore Page 2 of 70 Strategic Audit of Lowe’s Companies, I May 29, 2011 | Business Development,ERP,General Business Home » Blog » General Business » Business Development » Strategic Audit of Lowe’s Companies, In Click for PDF: Lowe’s U.S. Strategic Audit Spring 2011 Lowe’s Company, Incorporated is a home improvement retailer that has stores throughout the Unit following report is a student strategic audit for Mike Anderson’s strategic management course at th undergraduate student project team was composed of the following people: Keelie Cox, Alicia Kelly Wu, and myself (Jacob Camp) I. Executive Summary This report critically overviews the U.S. Division of Lowe’s Company, Incorporated. The purpose of accurate and current representation of Lowe’s through research using a variety of sources, method statements, recommendations, or opinions offered herein are only perspectives from the respective state that these aforementioned statements will come to fruition. The current operations, performance, and policies of Lowe’s will most certainly lead the company t the fortunate position to avert disaster. A note of exceptionally good news is that Lowe’s was evalu with a probability...
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...Building Better Home Improvement Experiences 2012 ANNUAL REPORT Building Better Home Improvement Experiences Learn more by visiting our online Annual Report at www.Lowes.com/2012annual or scan the QR code with your smartphone. Shareholder Letter Great customer experiences start with our associates, whether they interact with customers face-to-face or work tirelessly behind the scenes to simplify the complex business of home improvement. And together, Lowe’s associates are building better home improvement experiences. We’ve laid the foundation to transform our core business over the past two years, and we will continue our efforts in 2013 and beyond. We expect to generate compelling returns for shareholders as we further align our people, processes and financial resources to provide better home improvement experiences. 2012 PERFORMANCE We delivered solid performance in 2012. Comparable store sales grew 1.4% and total sales grew 0.6% to $50.5 billion. Net earnings increased by 6.5% to $2.0 billion and diluted earnings per share increased 18.2% to $1.69. Operating cash flows, along with the net issuance of $1.4 billion of long-term debt, were used to acquire $1.2 billion in fixed assets and return $5.1 billion to shareholders through dividends and share repurchases. Robert A. Niblock Chairman of the Board, President and Chief Executive Officer OUR PROGRESS Our transformation is centered on the customer. In the inspiration phase of a project, customers realize...
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...sell goods that consumers need for home improvement as well as advice on said projects, contracting services, lawn and garden, and appliances and tools. Your organization was founded in 1978 with the purpose of providing DIY one-stop shopping. Since inception, Home Depot Inc. has grown to become a multinational company with foundations strongly in the United States with roots in the Canadian, Mexican, and Chinese markets. Shortly after inception, Home Depot Inc. enlisted on NASDAQ and the NYSE. Your company has seen considerable growth in its main business as well as developments in subsidiary businesses and services. Home Depot Inc. has become one of the fastest growing retailers in America and as such, you would like to review the operations of your organization to determine areas of further growth and areas that may need to be leaner. Objectives of the Operational Review As a result of our initial review and interviews with your executive management, we believe that the objectives of performing an operational review of your organization are as follows: 1. Determine items of interest in the disclosure section in the Annual Reports that could be misleading to investors and violate GAAP. 2. Determine items of interest in the articles provided to shareholders and investors that could indicate areas of concern or deter investing...
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...industry are Home Depot and Lowe’s. Each has their eye on moving into international markets, each has superstores in all 50 states and each has evolved along different paths to reach their current positions. According to Fortune 500 Home Depot, Inc. is ranked at #25 and the second largest retailer in the US after Wal-Mart. Home Depot Inc. has its corporate headquarters in Atlanta Georgia. What began in 1979 as two 60,000-foot stores that resembled warehouses has grown to about 2,200 stores across North America, Puerto Rico, and China. Home Depot Inc. is publicly traded on the New York Stock Exchange as NYSE:HD. At the end of 2008 Home Depot Inc. employed 331,000 people. Home Depot sales recorded and posted in 2009 are $71,288.0 mil. Home Depot Inc. is the number one home improvement retailer with Lowe’s coming in second place with sales posted in 2009 at $48, 230.0 mil.. Founded in 1946 Lowe’s went from a small hardware store to the ninth largest retailer in the US. Lowe’s went public in 1961 and began trading on the New York Stock Exchange as NYSE:LOW in 1979. According to Fortune 500 Lowe’s Companies, Inc. is ranked at #47. Lowe’s Companies, Inc. are headquartered in Mooresville North Carolina. Lowe’s competes with Home Depot, Inc. (home improvement) and Sears (appliances) they are second to both. Lowe’s currently has 1640 superstores in the U.S. and another dozen stores in Canada. Lowe’s also plans to open stores in Mexico in 2009. Lowe’s has not moved as aggressively...
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...Lowe’s By You April 21st, 2014 University of Phoenix ECO-365 Introduction In the United States there are two major players in the home improvement industry. The biggest in The Home Depot. The other, while smaller having 502 less stores, is still a giant of the industry (Cramer, 2013). Through the recession Lowe’s stood while well The Home Depot fumbled. Lowe’s faces competition from opponents other than just The Home Depot as it expands beyond America. As Lowe’s seeks to enter the Canadian and Australian markets it will encounter more diversity than it has experiences so far. The complexities of doing business abroad and opening stores afar will become even more apparent as their international tactics change. Despite the challenges Lowe’s should expand further to become an even bigger player both nationally and globally. Global Competition’s Impact on Lowes In 2009, Lowes had 1,710 stores found throughout Canada and United States, 16 of these found outside the United States, with three stores in Mexico that opened in 2010, allowing for their exposure to bring them to a new level of sales internationally. (“Lowes Companies”, 2012) After much research it is found five competitors could impact Lowes, the #2 home improvement dealer in the world (Racine, 2012), but on different levels. The first competition is the main competition of Lowes, Home Depot, #1 in the world since 2005, (“Lowes Companies”, 2012) is expanding its sales by bringing in more Hispanics...
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...competitive products for the professional market. Their DIFM installation programs include products such as carpeting, flooring, cabinets, countertops, and water heaters. In addition, the company provides installation of various professional products like generators and HVAC systems. The Home Depot developed strategic product alliances directly with industry-leading manufacturers to deliver the most exclusive assortments to customers. Through a combination of national brands and proprietary products The Home Depot exclusively carries several major brands, including: BEHR Paint, G.E., Martha Stewart Living and Thomasville, which sets the standard for the do-it-yourselfer and the professional contractor. The Home Depot revolutionized the home improvement industry by bringing the know-how and the tools to the consumer and by saving them money. According to the founders, the customer has a bill of rights at The Home Depot, and this entitles the customer to the right assortment, quantities and price, along with trained associates on the sales floor who are there to help customers (The Home Depot, 2011). Their philosophy of customer service – “whatever it takes” – means cultivating a relationship with customers rather than merely completing a transaction. The founders initially viewed the structure of the company as an inverted pyramid, with stores and customers at the top and senior management on the bottom. They...
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...Kmart’s CEO, Floyd Hall, had a difficult decision to make: should he move forward with Green’s offer of $10 million for Builders Square, or should he continue the search in hopes of receiving a higher offer? Green’s offer seemed surprisingly low, even given Builders Square’s recent sub-par performance, yet bidders for Builders Square had been slow to materialize. Indeed, Kmart’s recent talks concerning a joint venture with Waban Co.’s HomeBase centers ended when Waban’s management withdrew without explanation. As the decision neared, Kmart’s options seemed limited and time was short. Kmart and its Entry into Specialty Retailing Kmart Corporation, one of the world’s largest mass merchandise retailers, began as the S.S. Kresge Company in 1912 and by the 1950s it was one of the largest general merchandise retailers in the United States. In 1962, it opened its first Kmart discount store in Detroit. By the late 1970s, Kmart’s success had attracted new competitors to the discount retailing industry. These new competitors, which included Wal-Mart and Dayton-Hudson’s Target stores, entered the market with more inviting stores that made Kmart’s facilities appear shoddy....
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...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory Join Search Browse Saved Papers Home page » Business and Management Should Companies Comply With China's Terms In: Business and Management Should Companies Comply With China's Terms Should companies comply with China’s terms? As our society advances towards a global society, and companies begin to transition themselves into multinational and global organizations, the question of which rules and regulations should the company follow is likely to precipitate. I feel such is the case with China. I believe prior to answering the question of foreign nation compliance, one should examine the reasons why an organization has entered into that foreign market. The primary objective is typically profits, a secondary could be expansion, an initiative to become a globally known brand and gain international market share. Once the fundamental question of “why” is answered, the remaining issues, such as foreign government policies, can be addressed as well. So should a company comply or defy? Proponents of both sides of the fence are up in arms and ready to debate their stance. Proponents argue loss of market share if a company decides to leave a potentially new market, especially an international market. And proponents of defying the compliance terms are citing moral and ethical beliefs which make it wrong to comply with a communist government (http://hbswk...
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...discern a trend in the investment decisions of Mr. Buffett and are his decisions consistent with the principals learned from his mentor Dr. Graham? Based on the types of company’s that BK now owns, have the Acquisition Criteria been held to, modified, expanded upon? Is there something more to his theories? Comment on the quote “all you need to know to become a successful investor is two courses, (1) A course on how to value companies and (2) a course on human behavior”. How does Buffet’s philosophy statements on page 19 and 20 compare to what you have learned so far in your other management classes or personal experiences? What does the advice that Buffet gave the University of Florida students mean to you? Select 2 quotes on page 22 and comment on why they are meaningful to you. How has Mr. Buffet taken advantage of the recession of the past 4 years? Comment on Mr. Buffet’s quote “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful”. By use of research, how has Buffet and his company applied this statement with their current actions? Case 2 INTUIT Your textbook on page 19 makes reference to the fact that most entrepreneurs learn about cash flow, marketing and human resources after they have those problems. Comment on how Scott Cook seemed to address these issues? How important are ethics to the entrepreneur for your reading of this case and the text (page 26)? Discuss any experience you...
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...Positive Impact of Business Ethics & Corporate Social Responsibility On an Organization Abstract Corporate social responsibility and business ethics have become the focus of an increasing amount of attention from the business sector and academicians following the scandal-ridden era of Enron and others during the 1990s. Although the findings from the research to date are mixed, there is a growing body of research in this area that has lent support to the notion that ethical business practices and corporate social responsibility initiatives have a positive impact on companies in terms of profitability as well as other less quantifiable areas. This review of literature examines these issues systematically to identify current trends and to describe the positive impacts that ethical business practices and corporate social responsibility programs can have for companies of all sizes and types. The Positive Impact of Business Ethics and Corporate Social Responsibility on an Organization To act in a socially responsible way requires organizational leaders to consider the effect of their decisions on the well-being of society; thus, managers must ask themselves what their actions do to society and what their actions do for society. – Ronald Sims, Ethics and Corporate Social Responsibility: Why Giants Fall 2003, p. 66 Chapter Two: Review of Literature The epigraph above makes it clear that today, there is a growing recognition among the business community that they...
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...Introduction As Lowe’s seeks new international markets to expand its highly successful home improvement model, the opportunities in the Asia market provide a unique untapped region. In Korea, recent political changes have opened its economy to foreign investors and businesses. Korea’s strong economic growth provides Lowe’s with the ideal situation of opening up stores before their competitors. Based on research I conducted, this assessment considers the potential of expanding Lowe’s into the Korean market. With any major investment, it is important to consider the monetary and non-monetary aspects including gaining an understanding of the culture, the ideal management approach, past and future trends, along with political roadblocks. In this paper, the following information provides a roadmap to the decision-making process. First, an assessment of the Lowe’s vision, mission, and promise are discussed and compared to the similarities and differences within Korea. Then, an analysis considers Korean trends that support the expansion of Lowe’s. Next, a culture assessment of Lowe’s base country (USA) is compared against Korea including management styles to consider for the local corporate office and stores. Lastly, a communication strategy is discussed based on the cultural assessment and offers best practices for the expansion of Lowe’s into Korea. This paper is intended to assist Lowe’s senior managers begin an assessment of expansion into the Asian market via Korea by...
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...from Journyx to QuickBooks 4. Enter Time & Billable expenses into VIP system (for Lockheed Martin) 5. Every Monday following the week time was entered in VIP, go into VIP check to if time & expenses have been approved & print out invoice report for previous week, and then put this invoice into QuickBooks. 6. After collecting Time create invoices for projects Unisys & Lockheed Martin (Cloc, I2SSC). These are the only weekly billed Projects. Biweekly Tasks 1. Transmit payroll by 5pm on the Tuesday that is payroll week. 2. Enter Time bank taken into Time bank spreadsheet after payroll is done. 3. Transmit 401k through CMC Interactive website on the Friday of the payroll. 4. Transmit 401K Through Charles Schwab (after transmitting through CMC interactive). 5. Update 401k spreadsheets for FY Financials. 6. Enter payroll journal entries into QuickBooks – Payroll J/E Vacation J/E Class Allocation 401k 7. Enter Invoices into Burn Rates spreadsheets. 8. Check Burn Rate spreadsheets to make sure there is enough funding 9. Update FY Time bank spreadsheet for FY Financial Reports. Accounting Principles Indirect Cost – Any cost that cannot be directly identified with a single final cost objective but can be identified with two or more final cost objectives or an intermediate cost objective. (Cost Accounting...
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