Lowe's Home Improvement

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This week Charlotte had another big jobs announcement. Online mortgage company Better.com announced it is expanding in Charlotte, going from about 20 people to 1,000 in five years. It follows substantial job announcements for the city by Lowe’s, Avid Xchange and Truist.

Shares of Lowe's tumbled 10 percent at the opening bell Wednesday after the home improvement retailer cut its outlook for the year after a weak first quarter.

The company cited rising costs and outdated pricing tools. Lowe's recently acquired an analytics platform it says will modernize its pricing process and improve margins.

A local and federal crime task force seized 83 pallets containing 6,400 stolen items during an October raid at a Tool King USA storage unit.
CMPD / U.S. Attorney's Office

A Charlotte man has pleaded guilty to running a retail theft ring that stole more than $4 million in merchandise between 2015 and 2018. Edwin Barkley, 63, pleaded guilty in federal court last month to running the ring out of two stores and four storage units off North Tryon Street.

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Mooresville-based Lowe's said Tuesday it will phase out sales of paint strippers containing methylene chloride and the solvent NMP by year's end.  The move comes amid a push by environmental groups to outlaw the chemicals, which can be lethal if inhaled.

Lowe's Home Improvement

MOORESVILLE, N.C. (AP) — Lowe's, which named a new CEO this week, is reporting weak profit and revenue numbers for its first quarter in which harsh winter weather cut into the traditional spring sales season.

Lowe's recorded profits in the fourth quarter despite a red-hot housing market.

Shares fell 8 percent before the opening bell as healthy same-store sales were overshadowed by the profit miss and lower overall revenue.

Lowe’s Home Improvement says its profits jumped 76 percent in the third quarter from the same period a year ago. The company headquartered in Mooresville says it made $396 million. Part of the increase comes from sales related to Hurricane Sandy.

Lowe's Earnings Fall Short Of Expectations

Aug 20, 2012

Lowe’s home improvement earned 10 percent less from May to August than it did last year. The Mooresville-based company now says it won’t make as much money this year as it had previously estimated.

Lowe’s earnings fell short of its own expectations and Wall Street analysts’.

The nation’s second-largest home improvement chain has been restructuring. A big part of that is making it easier for customers to shop online, on mobile devices and in the stores. CEO Robert Niblock said on a conference call with investors the company is making progress on those initiatives.