Lowe's 2015 Annual Report Download - page 4

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2
LOWE’S COMPANIES, INC.
And, as we’re evolving from a company with a purpose to
a company
driven
by purpose, we remain focused on our
ability to meet customers on their terms, provide solu-
tions for their projects, and be their trusted partner in
home improvement. Moreover, we seek to differentiate
ourselves through better customer experiences that
make us the project authority. We do this by continuing to
leverage our distinctive strengths in customer experi-
ence design to inspire customers and guide them through
completion of their home improvement projects.
We continue to enhance our relevance to customers
through omni-channel retailing, where all of our channels
work together seamlessly so that we support customers
at every step of their home improvement journey and
build greater affinity for the Lowe’s brand. We began roll-
ing out technology to better support our omni-channel
strategy to a couple of test markets in late 2015 and con-
tinue deploying the technology across the chain.
As we transform to a home improvement company, we
know that there is more than one path to serving custom-
ers, so we are growing our capabilities and our reach all
with the intent of helping people love where they live. By
leveraging our portfolio of home improvement busi-
nesses, we are well positioned to adapt to what custom-
ers expect, now and in the future, and to generate value
for shareholders for years to come. While the size and
scope of what we do continues to evolve, just as it has
since we were founded in 1946, the passion and pride of
our people remains constant.
I believe our steadfast commitment to customers is evi-
dent in the solid results we achieved in 2015. Total sales
grew 5.1% to $59.1 billion, driven by comparable sales
growth of 4.8%, with all regions and product categories
achieving positive comps.
Letter to Shareholders,
It’s easy to explain what we do and how we do it.
We sell home improvement goods and services
through our stores, our website, our contact cen-
ters, at job sites and even right in people’s homes.
But over the past few years, we’ve taken time to
evaluate why we do these things. Why do we sell
home improvement goods and services? Why are
we transforming to an omni-channel home
improvement company? Through this evaluation
we uncovered a purpose that’s authentic to who
we are as an organization and a reflection of what
we do every single day.
Our purpose is to help people love where they live.