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Lowe's Companies, Inc. : Nest Learning Thermostat Now Available at More Than 500 Lowe's Stores, Lowes.com

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05/08/2012 | 03:25pm CEST

Lowe's Selects Nest for New In-Store Innovation Displays, Offering Customers Hands-on Experience with Nest

Nest Labs, Inc. (nest.com) announced today that the Nest® Learning Thermostat™ is now available in more than 500 Lowe's Companies, Inc., (NYSE: LOW) stores across the country, as well as on lowes.com. Lowe's - the second-largest home-improvement retailer in the world - will feature Nest in its new Innovation merchandising displays in-store, which bring the best new products in home improvement to life with interactive end caps. To purchase or check local availability, visit lowes.com.

"There's a natural affinity between Lowe's and Nest," said Erik Charlton, Nest vice president of sales and marketing. "Both companies are committed to supporting DIY-minded customers seeking quality products. Most Nest owners choose to install the Nest Learning Thermostat themselves -- and complete installation within 30 minutes -- so it makes sense for them to buy from Lowe's, a great retailer that supports its customers' ingenuity and pride in their homes."

"Nest has added energy and excitement to the thermostat category," said Dean Kochalka, vice president of Merchandising at Lowe's. "Lowe's continues to look for ways to offer customers the latest innovative products to make home improvement simple, and the Nest Learning Thermostat offers customers a personalized, intuitive approach to easily managing the home environment and energy expenses."

The Nest Learning Thermostat learns about you and your home to automatically adjust the temperature when you're away, guide you to energy-efficient temperatures when you're home and free you from programming hassles by creating a personal temperature schedule. With heating and cooling accounting for approximately 50 percent of the average household energy bill (or more than $1,000 per year), Nest can make a noticeable difference by helping reduce energy consumption. Since its launch in October 2011, Nest has earned rave reviews and awards - from Good Housekeeping's VIP Award to CNET's coveted five-star rating.

For more on Lowe's dedication to energy conservation and the environment, visit lowes.com/socialresponsibility.

About Nest

Nest is focused on addressing home-energy consumption with an elegantly designed solution - one that people will actually enjoy using. Founded by Apple alums Tony Fadell and Matt Rogers, Nest brings together a world-class team with the broad backgrounds needed to deliver an amazing product that blends technology with ease of use. Nest is privately funded and based in Palo Alto, Calif. For more information, visit nest.com.

About Lowe's

With fiscal year 2011 sales of $50.2 billion, Lowe's Companies, Inc. is a FORTUNE® 50 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50268803&lang=en

Nest
Kate Brinks, 415-823-3121
[email protected]
or
Lowe?s Companies, Inc.
Jaclyn Pardini, 704-758-4317
[email protected]


© Business Wire 2012
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Financials ($)
Sales 2019 71 351 M
EBIT 2019 6 631 M
Net income 2019 4 429 M
Debt 2019 15 675 M
Yield 2019 2,17%
P/E ratio 2019 15,59
P/E ratio 2020 13,75
EV / Sales 2019 1,22x
EV / Sales 2020 1,17x
Capitalization 71 354 M
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Number of Analysts 31
Average target price 105 $
Spread / Average Target 24%
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Robert A. Niblock Chairman, President & Chief Executive Officer
Richard D. Maltsbarger Chief Operating Officer
Marshall A. Croom Chief Financial Officer
Paul D. Ramsay Chief Information Officer
Marshall O. Larsen Independent Director
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