Investor Alert

Jan. 3, 2020, 9:43 a.m. EST

Lowe's Goes Hiring

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Jan 03, 2020 (Baystreet.ca via COMTEX) -- Lowe's /zigman2/quotes/205563664/lastsale LOW -6.54% created excitement Friday by announcing it's looking to hire at least 53,000 people ahead of the spring season, the home improvement retailer's busiest time of year.

That's less than Lowe's goals for a total of 65,000 workers in 2019, of which 50,000 were seasonal hires.

Lowe's, based in Mooresville, North Carolina, said it will begin holding hiring events in all of its more than 1,700 U.S. stores next week to fill both part- and full-time roles over the next three months. The open positions include cashiers, stockers and loaders in its stores, as well as merchandising associates.

Lowe's stores in Florida, Southern California and Hawaii, as well as parts of Arizona, Utah, Nevada, Texas, Alabama and Georgia, where spring weather typically arrives earliest, will host the first walk-in hiring events this Wednesday.

All workers will be eligible to participate in Lowe's quarterly bonus program. In addition to their pay, employees receive a 10% store discount.

Lowe's said that in 2019 about 50% of seasonal hires were converted to permanent jobs.

Lowe's in 2019 pivoted its focus for new hires toward filling additional tech-related jobs. CEO Marvin Ellison, who joined Lowe's from J.C. Penney in 2018, called that out as one of the company's weaknesses. Ellison has also been trying to cut costs at Lowe's.

Lowe's is making its hiring plans in the midst of what is still a tight labor market in the U.S. Unemployment remains near record lows. And that makes it more competitive for companies to find talent.

Lowe's shares settled 91 cents soon after the opening bell on Friday to $119.52


$ 80.42
-5.63 -6.54%
Volume: 8.11M
April 1, 2020 6:30p
P/E Ratio
Dividend Yield
Market Cap
$65.96 billion
Rev. per Employee

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