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4-Traders Homepage  >  Equities  >  Nyse  >  Lowe's Companies, Inc.    LOW

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Lowe's Companies, Inc. : Lowe's to Offer Appliance Innovations from LG Electronics Starting in 2013

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12/03/2012 | 03:20pm CET

Stores Nationwide and Lowes.com to Carry LG Kitchen, Laundry Appliances

Furthering its commitment to delivering customers the best in appliance selection, Lowe's today announced plans to bring stylish, innovative and energy efficient home appliances from LG Electronics into its stores for the first time, starting in the first quarter of 2013. The products also will be available on lowes.com.

LG-brand refrigerators, washers, dryers, dishwashers and ranges are among the appliances to be carried in more than 1,700 Lowe's locations across the United States. The new line will include the industry's largest total capacity refrigerator at 33 cubic feet (Model LFX33975ST) and a host of products awarded the ENERGY STAR® "Most Efficient" designation.

"Through this strategic alliance with LG, our stores will now have a broader assortment of innovation and leading designs in appliances to help customers improve and maintain their homes," said Craig Webber, Lowe's merchandising vice president. "When combined with our service advantages of next-day delivery capabilities and in-house facilitation of repairs and maintenance, Lowe's appliance offering provides the best in customer experience and simplicity."

Chris Jung, president, home appliances, LG Electronics USA, said, "As a retailer that recognizes the value of innovation and shares a commitment to energy-efficient product offerings, Lowe's is a perfect fit for LG home appliances. Through our new alliance with Lowe's, even more consumers looking for innovative and attractive appliances will be able to find LG for their homes."

LG appliance innovations include direct-drive motors on its washing machines and linear compressors on its refrigerators to improve reliability, performance and efficiency. LG is a top brand in front-load washers in the United States and an award-winning leading innovator in French Door refrigerators.

Supporting Lowe's commitment to environmental sustainability, LG is a leader in delivering energy efficient products to the market, boasting more than 600 products that have earned the ENERGY STAR label, including the majority of its refrigerators and washing machines sold in the United States. More than 60 LG products have received the ENERGY STAR "Most Efficient" designation. This coveted distinction by the EPA recognizes the most energy-efficient products in their categories among those that have earned the ENERGY STAR label.

As one of the nation's largest appliance suppliers, Lowe's offers more in-stock appliances than any other retailer and offers easy installation services, including free next-day delivery. Lowe's also facilitates all appliance maintenance and repairs through independent contractors, standing behind what it sells, to give consumers peace of mind with every purchase.

For more information about Lowe's appliance offerings, visit www.lowes.com/appliances and find information on LG appliances in the beginning of 2013. For more information on LG appliances, please visit http://www.lg.com/us/appliances.

About Lowe's

With fiscal year 2011 sales of $50.2 billion, Lowe's Companies, Inc. is a FORTUNE® 100 company that serves approximately 15 million customers a week at more than 1,745 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

About LG Electronics USA

LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $49 billion global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions, all under LG's "Life's Good" marketing theme. LG Electronics is a 2012 ENERGY STAR Partner of the Year. For more information, please visit www.lg.com.

Lowe?s
Jaclyn Pardini, 704-758-4317
jaclyn.pardini@lowes.com
or
LG Electronics USA
John I. Taylor, 847-941-8181
john.taylor@lge.com


© Business Wire 2012
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Sales 2017 64 598 M
EBIT 2017 6 149 M
Net income 2017 3 182 M
Debt 2017 14 184 M
Yield 2017 1,72%
P/E ratio 2017 21,59
P/E ratio 2018 16,92
EV / Sales 2017 1,24x
EV / Sales 2018 1,19x
Capitalization 66 195 M
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Average target price 81,3 $
Spread / Average Target 6,9%
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Robert A. Niblock Chairman, President & Chief Executive Officer
Ricky D. Damron Chief Operating Officer
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Paul D. Ramsay Chief Information Officer
Marshall O. Larsen Independent Director
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