Lowe's expects a positive housing industry in 2014 and next several years The company said the housing industry may grow at a higher rate than GDP despite the severe weather so far in 2014. Although credit remains tight, the company expects another good year of home prices going up. It also expects homeowners will continue to be reengaged in discretionary spending around the home. Lowe's expects 2014 will be a good year when spring arrives. Comments taken from conference call for UBS Global Consumer Conference.
Lowe's announces new $5B share repurchase program Reflecting its commitment to return excess cash to shareholders, the Board of Directors for Lowe's Companies has authorized a new repurchase program of $5B of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4B as of January 30.