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Stock impact report

Lowe's CEO says the 'greatest deterrent' for retail theft is hiring and training workers [Business Insider]

Lowe's Companies, Inc. (LOW) 
Last lowe's companies, inc. earnings: 2/26 06:00 am Check Earnings Report
Although Lowe's has reported an increase in inventory shrink, it's not expected to hurt profits. CEO Marvin Ellison attributed low theft rates to investing in the company's workers. Get the inside scoop on today's biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Like many retailers , home improvement giant Lowe's has reported increased losses from missing or damaged inventory over the past few years, reaching nearly $1 billion by one estimate. But unlike dozens of other retail executives , Lowe's CEO Marvin Ellison says the losses from retail theft this year are not expected to have a material impact on the company's profits. "It is one of the areas of the business that we're most pleased with as a major big box retailer," Ellison said during a retail conference this week. Lowe's inventory shrink as a percentage of sales last year was just over 1% — at the low end of the typical industry range of 1% to 1.4% — and that's after an uptick fr Show less Read more
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