Lowe’s Acquires STAINMASTER®, the Most Recognized and Trusted Carpet Brand, Advancing Total Home Strategy
Purchase Expands Lowe’s Private Brand Offering
MOORESVILLE, N.C., April 22, 2021 /PRNewswire/ — Lowe’s Companies, Inc. (NYSE: LOW) today announced it acquired the STAINMASTER brand, the most recognized and trusted carpet brand on the market today, advancing the home improvement retailer’s Total Home strategy.
With this acquisition, Lowe’s will build on its decade-long exclusive position as the only national home improvement retailer to carry STAINMASTER carpet. The purchase includes all brand-related intellectual property from its parent company, Invista, and all related trademarks and sub-brands.
The STAINMASTER acquisition is a step in delivering Lowe’s Total Home strategy by elevating the retailer’s assortment, providing consumers with the products and brands they trust for every project across their entire home. STAINMASTER will join Lowe’s private brand portfolio, and the company sees opportunity to extend its high-performance characteristics into other product categories.
“Today’s announcement adds the most trusted and recognized brand in carpet to our lineup of private brands,” said Marvin R. Ellison, Lowe’s president and CEO. “At a time when home has never been more important, customers are increasingly looking for high-performance products to meet their evolving needs and expectations. We see great potential to leverage and extend the STAINMASTER brand into other product areas to further serve our customers and deliver on our Total Home strategy.”
“Lowe’s is excited to have STAINMASTER join our family of private brands, alongside the likes of allen + roth, Project Source and Harbor Breeze,” said Sarah Dodd, Lowe’s senior vice president of global merchandising. “Research shows STAINMASTER is the soft-surfaces brand customers trust the most when shopping for flooring. This acquisition further demonstrates our commitment to deliver a compelling product assortment for customers wherever they choose to shop with us.”
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Disclosure Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity”, “outlook”, “scenario”, “guidance”, and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives, business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services, share repurchases, Lowe’s strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.
A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, changes in commodity prices, trade policy changes or additional tariffs, outbreak of public health crises, such as the COVID-19 pandemic, availability and cost of goods from suppliers, and other factors that can negatively affect our customers.
Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in “Item 1A – Risk Factors” in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the Securities and Exchange Commission. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law.
SOURCE Lowe’s Companies, Inc.