As a former employee/current stockholder, I’m not ready to give up on Marvin just yet—but there needs to be some soul-searching right now at HQ. As a 26 year stockholder, I’ve never seen a one day stock plunge like today. Something is still seriously wrong. I agree with many others—the problem is not in the stores, it is in the chain of command between market director and SVP level. Stop focusing on making parking spots for veterans, camo vests, huge disruptions in store operations like executive and merchandise manager store visits/engagements, and further burdening store employees with tasks and focus instead on retail fundamentals—-like providing products that customers want at reasonable prices. Empower the ground level employees to take care of our customers and quit trying to manage them through fear and intimidation!
14 replies (most recent on top)
Yes stop the unwanted freight. What is going to happen when we start getting Xmas decorations and trim a tree at the end of August. We will have no where to put it in top stock and our dip chit SM won’t get pods or trailers to store it in since it will affect his bonus.
Closing stores, cutting positions, cutting hours, and no positive outcome with the stock. JCPENNY'S 2.0
Based on the closing numbers today, Lowe’s lost 11.81% in value today. With a market capitalization of $77.95 billion I figure that the Mooresville gang LOST $ 6.86 billion today. Not a bad days work there fellows. Take tomorrow off!
Oh and Marvin...no excuses...you don’t allow excuses at store level...own it big boy!!! God Bless!!!!
Wonder how the gang in Mooresville are feeling right now? I’m betting there is a big run on the liquor stores tonight.
Nice work gang!
How Lowe can this stock go. Right now it’s down $ 15.39 from yesterday’s close or - 13.85 %. I don’t care who you are. That’s a sh-- load of shareholder value gone in less than 24 hours. What a sh-- show!
One of the early reports on cnbc stated Home Depot has been sourcing their product from Vietnam. They were preparing for possible trade issues for a couple years. Lowe’s didn’t appear to have a plan in place for the Chinese tariffs. They don’t normally have a lot of extra inventory. So when Lowe’s orders more products the tariffs will hit them harder.
If you haven’t been in a Home Depot for awhile. When you go to their registers, the cashier scans the barcode and a picture of the product scanned, price and protection plans shows on the register. They don’t need as many LP officers because some shrink will be caught at the register.
Market Summary > Lowe's Companies, Inc.
NYSE: LOW
98.15 USD −12.95 (11.66%)
LOL! I couldn't help but to literally Laugh Out Loud when i saw the news. Marvin isn't or wasn't Wall St. darlin' like Lambert and manipulate the stock like he did over at Sears for the first 6 years even though that company was losing money left and right.
All the posts prior to mine are spot on. I would just add, in my opinion, a significant amount of our problems lie between Regional and Market. The changes, expectations, and added nonsense tasks are destroying the store level. Let the SM run the store! If your lucky enough to have a good one like us. Market and Regional need to do their jobs instead of worrying about their jobs and push back on all the things you all posted prior to me. BTW...Stop the freight! everything is buried! you may have inventory but no one can find it to sell it!
Now down 13%. Maybe overfilling the stores with inventory, slashing labor, making daily threats and constant outrageous demands, totally discounting the importance of good morale, lying constantly, playing mind games, airing inane and borderline demeaning weekly broadcasts, saying one thing and doing another and just generally ruining stores (including but not limited to technology improvement lies and insane merchandising ideas) just isn't working according to the plan. We are not Home Depot. Saying that we are and acting like we do is failing. Won't someone please have the b***s to step up and and admit that this just isn't a successful strategy? We are ruining a once great company.
Great job Marvin!!! When you cut hours during 100 days what did you expect? When we have driven off most of the remaining talent left, what did you expect? When the better than average millenial worker...which isn’t saying much, can go to Target or Chick Fil-A and make more, what did you expect? God Bless you Marvin!
I also noticed the news release about the financials was sparse on detail.