In the midst of a home improvement war, Lowe's
Makes sense. Just look at the headlines over the past three quarters:
"Lowe's Q3 Raises the Bar," "Lowe's Sturdy Q2," and "Lowe's Raises the Roof" all speak to the company's exceptional performance, as it continues to bite into Home Depot's
But the company said something else:
Our share repurchase program will also allow us to offset the dilutive impact of employee stock options and enhance overall return to shareholders.
That's debatable. A few years ago, we chided Microsoft
On the other hand, even if we question the extent to which buying back now "enhances the overall return to shareholders," it's not particularly expensive, either. Bottom line, we'd prefer that companies buy back underpriced shares, but this is all clearly reflective of Lowe's solid business execution.
Discuss the share repurchase program on the Lowe's board. Only on Fool.com.
Jeff Hwang can be reached at JHwang@fool.com.