Lowe's profit drops 10% on weaker sam...
2x4 nedm3

New Castle, DE

#41 Aug 21, 2012
hey this is not really only employee chats--all top management and stockholders read this--so change management and you get a chance to survive--i could go on to list the companies that did not do this--all companies grow fourish and go out of business---hey can you name any over 100 years --sorry.
Bird

Westland, MI

#42 Aug 22, 2012
DMxMD wrote:
<quoted text>
Ha! I noticed that too. His hands were shaking like crazy, and everyone laughed at the end because he looked like he was going to burst into tears. All in all the numbers really weren't that bad. It only looked bad because of the spread between us and depot.
I have to respectfully disagree with you there. The numbers between us and Home Depot mean everything in my opinion. They are our direct competition. No other entity in our country does the same business that the two companies do on such a large scale. You can bet that when customers leave one, they are going to the other. Let's put it this way, if you are a baseball team, and you are in contention for the division, and you go on a losing streak where you are 10% worse off than you were, and the only other team in contention with you goes on a winning streak at the same time, ending up 12% better off than they were before, and they started out ahead of you in the first place, then things start to look bad for a division win, even if you are 20 games over .500. Sure, 10% loss compared to the same time last year may not mean a whole lot to many people. If we were talking say 100 bucks, then that means you lost 10 bucks, however, we are talking billions of dollars. And when it concerns a company that is already pinching pennies tight enough to make Abe Lincoln fart, then it gets worse. This is very, very bad, and if they leave the same clueless executives in place that we have now, we will all be fighting with each other next, for a place in the cheese line that is.

I have a feeling that Lowe's isn't interested in winning the war so to speak, they are simply interested in winning the battle. I bet the shareholders already told Nibby and the boys that they want to start seeing results now or it's curtains for them. So, simply interested in besting Home Depot for just one quarter for job security, they have done all they can to reduce as much overhead as possible to fudge the numbers in their favor. They may have damaged the business beyond repair, only time will tell, but I heard that Ricky basically said they are holding the employees accountable in Ops talk for our future. Wow is all I can say. Here is a group without a clue. It would be like the Yankees ordering Sabathia to cut off his ring finger on his pitching hand, and then blaming him for not pitching well afterwards. It's laughable.
Whickerbill

Mooresville, NC

#43 Aug 22, 2012
just heard wrote:
Hostile takeover of Rona? Hope our store isn't next. This is just what I was afraid of. LEF will never help.
Lowes is desparate to take over Rona so that they will have additional numbers to add to the bottom line. Then they will juggle, fudge and propagandise the numbers for another quarter or two in order to attempt to fool the stockholders again that they are doing a good job and deserve their bonuses.
Whickerbill

Mooresville, NC

#44 Aug 22, 2012
Mavsgirl wrote:
I watched about 15 minutes of today's OpsTalk. It was dismal. Poor Rick looked like he was shaking in his boots and on the verge of tears. It was almost enough to make a girl giggle. They want our feedback? Are they deaf? We've been screaming about the downward spiral for months! Wtf?
Ahhhh, poor Ricky. He is just eagerly anticipating the loss of his bonus (the corporate version of spiffs and comission). Loss of bonus will actually be good for him. Without the fluctuation in his basic income, he will better be able to manage his household budget by not having the uncertanty of variable income from month to month. Lowes is doing you a favor, Ricky. Suck it up and "be glad you have a job".

Since: Oct 11

Location hidden

#45 Aug 22, 2012
Whickerbill wrote:
<quoted text>
Ahhhh, poor Ricky. He is just eagerly anticipating the loss of his bonus (the corporate version of spiffs and comission). Loss of bonus will actually be good for him. Without the fluctuation in his basic income, he will better be able to manage his household budget by not having the uncertanty of variable income from month to month. Lowes is doing you a favor, Ricky. Suck it up and "be glad you have a job".
I am sure Ricky will still get some sort of bonus or he will fall from Lowes in his beautiful golden parachute. After a few months he'll join another company and start over-probably using all he has learned at Lowes helping another company improve their "bottom" line while lining his pockets. They don't get hurt if they get let go from Lowes-unless it is their pride.
NewBee

Van Alstyne, TX

#46 Aug 22, 2012
About the #'s:
We will never know the truth! All companies have gray to cover the true numbers or you would look at the real #'s from year to year and compete against them. But they do goverment accounting 2+2=4 last year so to beat last year 2+2.25=2.25 but they pull a # that they can promise the share holders like 5 and we do 2+2.25=4.25 and are up but not at their 5 so we lost .75 the facts are you have down years and still make profits, just not the profit you make up and wish for.

About the bonus program:
Receiving a bonus based all 160 other peoples work ethics and dedication it will rarely be reached and motivation will be low. It should be based on personal merit and decided by the manager above them, not some wild upper management made up #($250.00 dollars per 1/4 dosent even cover the gas it takes to get to work not worth killing your self for) knowing that it depends on Joe or Jane to use I.M.P.A.C.T tell about the credit plans and MYLOWES program and try to get a LEF from every customer in case they are a mystery shopper.
When Joe or Jane is part time and are only working till they finish school or find find full time work. They do not care about what we are doing in the long term big picture but can kill our bonus.
Just being real!
Furby

Mooresville, NC

#47 Aug 22, 2012
Just to show how out of touch our execs are:

We received an email from the SVP's about recognizing the top Sales Specialist to "ensure Sales Specialist engagement".

You don't take money out of people's pockets and then slap them on the back with an attaboy 6 months later and expect everything to be fine.

You want people to be engaged? Stop taking incentives away.
Hiram

Saint Petersburg, FL

#48 Aug 22, 2012
I wish everyone would just flat out admit,,,the place is really going down hill fast,,,,,I can not speak for everyone else,,but before I took the job out of necessity,,I had never even shopped at Lowes,,always Home Depot,,,,,What Lowes really gets as customers are the left over people who were pissed off at Home Depot for what ever reason,,,, Simple,,Employee Moral sucks,,management are a bunch of puppets living in make believe land,,,,shitty products(if available),,and the biggest techno flop I have seen in awhile....... So in losing,,,Who the Hell Really cares?? I hope they fall even faster....

Since: Oct 11

Location hidden

#49 Aug 22, 2012
Furby wrote:
Just to show how out of touch our execs are:
We received an email from the SVP's about recognizing the top Sales Specialist to "ensure Sales Specialist engagement".
You don't take money out of people's pockets and then slap them on the back with an attaboy 6 months later and expect everything to be fine.
You want people to be engaged? Stop taking incentives away.
I think they are grasping at straws in order to save their jobs. But you are right-the more you take away, the more you beat up your employees-it is not a way to build morale or improve the business.

At one company I was at we had a bad year-instead of laying people off we went on a 1 & 10 program-we lost one day per paycheck-but it applied to the salaried employees as well. It wasn't a problem because our owner did everything he could before there was a layoff and cuts always involved the salaried. He paid employees to cut the grass at his lake home, help build a golf course, etc. just to keep them busy. The story is told about a time when things were really tough and he could not afford to pay them or not as much-out of loyalty to him they worked and he gave them shares of stock---when the company was sold to a wall street company many of those employees became very wealthy.

Moral-you take care of your employees, be straight with them, share in downturn/cuts and you have loyal employees. Treat them like they are the cause of the low sales, take things away, treat them poorly-the moral sucks and they will let the SM and ASM's flop in the wind---there is no loyalty. You want our loyalty-you earn it every day by your actions, not by your title.
Bunkers Hole

Bluefield, VA

#51 Aug 22, 2012
Sorry, but I feel absolutely zero… nada, nothing, not a single hint of pity for the corporate folks whom are now feeling the heat. If any senior level of corporate is about to cry, as reported, I assure you it is crocodile tears.

Moving forward it’s important that we’re all reminded that “we”(Lowe’s employees) are the real problem, not them. There is a lot of blame to spread around, but don’t you dare blame corporate.

Cowboy-up… work harder, faster, smarter… you, that $8 an hour part-timer in the corner, you need to embrace LEF. It will be a life changing experience for you!

Up next, corporate will begin blaming the retail public for not responding to their incredibly clever commercials.

Since: Oct 11

Location hidden

#52 Aug 22, 2012
How can you improve sales when: 1) the economy is very shaky, 2) Lowes has pissed off contractors, customers and 3) their employees.

You can sell something to somebody if they are not in the store. The only we can entice them is with our 100% return policy or our dickering ability. Why pay full price when you can call a scared ASM who is hard up for sale?

The best thing going is the Lowes Rent a Tool Program. Use it for your project and return it for a full refund then we try to sell it as new until it sits on the floor for weeks and then we slowly keep marking it down or we dicker with a customer who offers 50% or less.

You cannot increase sales if customers are not coming in your store, then you lay off more people to satisfy the head count and the few customers who do come in either cannot find a red vest or a newbie. I saw this very thing happen at Pamida years ago.
nedm

Pembroke, MA

#53 Aug 22, 2012
Very very true. They gave away the store way too many times. You cannot force people to shop. Heck I saw a 10,000 commerical sales order returned once. Not sure what the specialist did wrong, customer was just odd.

Maybe the best thing for lowes to do would be to break it up and have bits and pieces sold off to different companies. Home depot, menards, Walmart/sam's club, target, Bj's, Costco etc. If home depot tried to buy the whole thing congress would probably block it and theyd end up closing a huge amount of stores due to saturization.
Bunkers Hole

Bluefield, VA

#54 Aug 22, 2012
nedm wrote:
Maybe the best thing for lowes to do would be to break it up and have bits and pieces sold off to different companies. Home depot, menards, Walmart/sam's club, target, Bj's, Costco etc. If home depot tried to buy the whole thing congress would probably block it and theyd end up closing a huge amount of stores due to saturization.
I think the idea of Lowe’s going under and closing/selling the entire chain of stores is premature at this point. Yes Lowe’s needs new leadership and that change will be coming very, very soon. The current individual in the corner office was never qualified for the job. The job was waaaayyyyyy too big for him.

If Lowe’s did close the entire chain, empty Lowe’s buildings would be scattered across the nation. Outside a select few locations no current retailer would touch the real estate… too many locations… to close together
DMxMD

Gardner, KS

#55 Aug 22, 2012
Has anyone seen the types of losses a company has to post several years in a row with no turn around in sight before they even try to sell, much less shut down? We're not even close. We're still making a substantial profit.
nedm

Pembroke, MA

#56 Aug 22, 2012
Bunkers I'm not saying going under I'm just saying that eventually they see no end in sight. dmx is right the company is still making a profit but there's only so long they can try to maintain earnings in light of everything. If the company sees some stores doing quite well and others not so much why continue to finance stores losing money?

I predict in the next 18 months radio shack will file for bankrupcy (maybe earlier). It's possible Best Buy might join that. Beyond that it is just too hard to predict. The energy market, housing market...who's to say that walmart might get into diy or if sears sells off to another company? What if amazon allows same day delivery? This isn't a chess game between hd and lowes anymore.
The Dude

United States

#57 Aug 23, 2012
Look at the number of people viewing this forum! It's always over 40 and during the hours that the corporate employees are working it spikes much higher! So my question is to you corporate level employees is, why are you still letting Niblock run the company? Why don't you see the problem is him and not employees making $20 an hour? Are you scared of him? GET HIM OUT NOW! GET HIM OUT NOW! GET HIM OUT NOW! You guys f@#cked up but now you can admit it and now do the right deed by getting rid of him!
You people blame higher paid positions but that measly $8 an hour difference only adds up to pennies compared to what someone knows and can make that up 10 fold in upsales, add ons and lack of returns due to not qualifying the customer.
Stop blaming your own employees! As far as I'm concerned you can get rid of the CEO position period! That position really doesn't have any benefit to the company. Maybe that so called "target" that was put on Specialist will now be placed on the backs of Niblock and useless corporate and board committee positions.

Since: Oct 11

Location hidden

#58 Aug 23, 2012
"Look at the number of people viewing this forum! It's always over 40 and during the hours that the corporate employees are working it spikes much higher!"

If it spikes higher during work hours-are Lowes employees reading and responding during their working hours? IT can track that. What would happen if a specialist or CSA did that on company time?
nedm

Pembroke, MA

#59 Aug 23, 2012
IT can easily track all phone, fax and online usage. There can be ways around blocked sites but I think it would be very stupid to assume that they wouldn't watch. If you gave away more confidential information they'd probably try to trace it down but beyond that they would probably just block the site or at least try to.Then again if a customer went to it they probably wouldn't have the same argument.
Radar

Walkerton, IN

#60 Aug 23, 2012
The Dude wrote:
Look at the number of people viewing this forum! It's always over 40 and during the hours that the corporate employees are working it spikes much higher! So my question is to you corporate level employees is, why are you still letting Niblock run the company? Why don't you see the problem is him and not employees making $20 an hour? Are you scared of him? GET HIM OUT NOW! GET HIM OUT NOW! GET HIM OUT NOW! You guys f@#cked up but now you can admit it and now do the right deed by getting rid of him!
You people blame higher paid positions but that measly $8 an hour difference only adds up to pennies compared to what someone knows and can make that up 10 fold in upsales, add ons and lack of returns due to not qualifying the customer.
Stop blaming your own employees! As far as I'm concerned you can get rid of the CEO position period! That position really doesn't have any benefit to the company. Maybe that so called "target" that was put on Specialist will now be placed on the backs of Niblock and useless corporate and board committee positions.
SPOT ON! Take a look at some of their blog sites, when you have a few minutes off after a CLOPEN. One blogger in charge of Lowes supply chain noted that one of her 10 rules of office productivity was not spending too many hours at the office! Now we know why we don't any products to sell to customers, in addition to not having enough staff to answer questions or available cashiers to take their money. They seem to spend their time blogging on corporate time, putting gold stars up on Niblock's fatuous blogs (headwinds! ha ha - THD is eating our lunch). The only way Lowes will survive is to clean house in Mooresville, top to bottom. Store staff cannot run any faster or harder to make up for Mooresville idiocy.
yea

Mooresville, NC

#61 Aug 23, 2012
the dude is here. awesome

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