Pershing Square Activist Presentation Deck
LOW Share Price Performance Since Inception
LOW's share price including dividends increased 32% in 2019 and is flat
year-to-date in 2020¹
Share price
LOW share price performance from 4/6/2018 to 2/4/2020
$125
$120
$115
$110
$105
$100
$95
$90
$85
$80
5/22/18: Lowe's
announces the hiring
of ex-HD executive
Marvin Ellison as CEO
Apr-2018
Jul-2018
5/22/2019: Announces unexpected gross
margin pressures following issues related to
legacy pricing systems, cuts guidance
Macro concerns
weigh on stock
Gen
Nov-2018
11/20/2019: Q3'19 results
show continued
Mar-2019
improvement across
many facets of the
business, raises guidance
12/12/18: LOW holds Analyst Day.
Introduces long-term plan focused on
executing "Retail Fundamentals"
Jun-2019
8/21/2019: Q2 '19
earnings demonstrate
improvement in systems-
related issues
Oct-2019
Note: The performance of Lowe's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds.
*Average cost at announcement date. Please see the additional disclaimers and notes to performance results at the end of the presentation.
(1) As of 2/4/2020
45
$119
$86*
Feb-2020View entire presentation