The second-largest home improvement retailer in the world has now found a way to help small businesses looking to participate in online retailer affiliate programs. As an open supporter of e-fairness legislation, Lowe’s program supports small businesses that refer online consumers to Lowe’s products for a fee.
This culture of responsibility extends beyond business into areas such as sustainability with the Lowe’s Charitable and Educational Foundation, through which the company donated a total of $1 million to four environmentally focused charities as part of its first online community giving campaign. And it’s clear consumers appreciate Lowe’s efforts: the gross margin of 35.14% for 2010 represented a 28 basis point increase over 2009.
Said Robert Niblock, Lowe’s chairman and CEO, “I would like to thank our more than 234,000 employees who worked diligently and executed well through the holiday season and difficult winter weather. Because of their efforts, we grew comparable store sales and gross margin while leveraging expenses. While uncertainty in the market remains, the economic recovery is continuing. We are committed to delivering better customer experiences and expect to grow marketshare in 2011 as we make continued progress on our key initiatives.”