Lowe's News

Mooresville, N.C.-based Lowe’s will unveil the next wave of products and services for Iris, its cloud-based smart home solution, at the 2013 International Consumer Electronics Show. 

Iris enables homeowners to monitor and control their homes from anywhere via smartphone, tablet or computer with a free basic level of service. Lowe’s will showcase more than 15 new Iris devices and services developed since the smart home solution’s launch in 2012 at the show.

Chain Store Age’s annual Retail Construction Survey shows Home Depot and Lowe’s among the retail industry’s top-10 leaders in capital expenditures. 

Lowe’s ranked sixth among retailers with $1.4 billion in capital expenditures, and Home Depot ranked eighth, with $1.1 billion.

Wal-Mart stores ranks first on the list -- way out in the lead with $7 billion to $7.5 billion in capital spending.

Lowe’s has launched Quickshipblindsandshades.com to offer consumers the ability to receive window treatments within 72 hours. Redi Shade, a manufacturer of window coverings, is participating with a new line called Simple Fit.

Lowe’s has hired Kevin Summers as its new chief information officer, effective July 9. He will replace Michael Brown, who announced last April that he had accepted the company’s Voluntary Separation Program and decided to retire after almost 28 years with Lowe’s.

The former Lowe’s executive earns high praise at Global DIY Summit.

Lowe’s has announced an agreement to sell $500 million of 1.625% notes due 2017, $750 million of 3.12% notes due 2022 and $750 million of 4.65% notes due 2042. Estimated net proceeds from this offering will be approximately $1.982 billion, after deducting offering expenses and underwriters' discounts.

Lowe’s has announced the appointment of Kevin Measel to senior VP store operations West division, where he will replace Jim Frasso, who is retiring after a 17-year career with the company.

Measel has more than 28 years of retail experience in both store operations and merchandising, having served most recently as merchandising VP nursery. Additionally, he has served as regional VP, district manager and store manager. He joined Lowe’s in 1994.

Mooresville, N.C.-based Lowe’s has appointed Dollar General CEO Richard Dreiling, 58, to the home improvement giant's board of directors.

Dreiling will serve on the board’s audit and governance committees. The addition brings Lowe’s board of directors to 12 members, 11 of who are independent.