Once again store sales are up but profit is down. So with so many salaries being restructured, associates on skeleton crews, where is Nib squandering the money? Private company jets- check, Excessive stock compensation for himself and a few cronies- check - money to run a non relevant NASCAR team - check
Now the question is what else can he cut. He's outsourced computer jobs to India, he's eliminated positions in stores. But many states have new minimum wage rules like California. California is pushing the min wage up each year.
Rate (Jan. 1) 26 Employees or More 25 Employees or Less
2017 $10.50 $10.00
2018 $11.00 $10.50
2019 $12.00 $11.00
2020 $13.00 $12.00
2021 $14.00 $13.00
2022 $15.00 $14.00
2023 $15.00
Have fun driving your hard workers when your lowest level cart pusher is making $15
MOORESVILLE, N.C. (AP) — Lowe's second-quarter profit got a boost from the sales of an Australian joint venture, but its performance was weak by most measures in a vibrant housing market, and its profit outlook for the year was well below the expectations of industry analysts.
Shares fell 5 percent Wednesday in premarket trading.
https://finance.yahoo.com/news/lowes-misses-street-2q-forecasts-100847352.html