Lowe's Continues to Clean House With $1.6 Billion Charge on Weak Businesses; Shares Fairly Valued
Wide-moat Lowe’s management team continues to reassess its overall business, with a less-than-year-old C-suite attempting to extract increasing efficiencies from the second-place home improvement retailer in the domestic market. This in turn provided write-downs in the fourth quarter totaling $1.6 billion, including nearly $1 billion from a goodwill impairment associated with the Rona Canada business and another $208 million from the closing of Orchard Supply locations. Rona was acquired for $2....Lowe's Companies is a home improvement retailer. The company provides home improvement products in lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens categories. The company provides installation services through independent contractors in product categories, including appliances, flooring, kitchens, lumber and building materials, and millwork. The company also provides extended protection plans for various products within the appliances, kitchens, fashion fixtures, millwork, rough plumbing and electrical, seasonal and outdoor living, and tools and hardware categories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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