Debunked: Fake Quote Attributed to Lowe's CEO on Conservative Values

A fabricated quote attributed to Marvin Ellison, CEO of Lowe's, has been circulating on social media platforms, highlighting the persistent issue of misinformation spread online. The false claim suggested that Ellison advised conservative customers to take their business to Home Depot if they disagreed with Lowe's values.

The misinformation stemmed from an altered CNBC broadcast graphic shared on Facebook. The manipulated image featured Ellison's photograph, title, and the CNBC logo, alongside a fabricated quote: "If conservatives do not like our values, they should take their money to Home Depot."

Lowe's, the second-largest hardware chain in the United States, promptly addressed the situation through its official X account, stating, "This statement is false. Lowe's CEO did not make this comment." A CNBC spokesperson confirmed to Reuters that the screenshot was not from their broadcast.

The original CNBC graphic contained an unrelated quote from Ellison discussing Lowe's quarterly earnings: "Inflation remains high. And big-ticket purchases are being delayed as customers sit back and wait for interest rates to fall." This statement reflects the current economic climate affecting consumer spending habits, particularly on expensive items like appliances or furniture.

It's worth noting that Lowe's, founded in 1921, has recently made changes to its diversity, equity, and inclusion (DEI) programs. The company confirmed the authenticity of a memo outlining plans to modify some of these initiatives. DEI programs gained prominence in corporate America during the 2010s, aiming to foster more inclusive work environments.

While the false quote attempted to create a political divide between Lowe's and Home Depot, it's important to recognize that both companies operate as competitors in the home improvement market. Marvin Ellison, who became Lowe's CEO in July 2018, previously worked at Home Depot from 2002 to 2014, demonstrating the interconnected nature of the industry.

In an unrelated development, a Forbes report from August 14, 2023, identified Home Depot cofounder Bernard Marcus as one of the top "billionaire donors" to Donald Trump's 2024 presidential campaign. However, it's crucial to note that Marcus retired from Home Depot in 2002 and his personal political activities do not necessarily reflect the company's stance.

This incident serves as a reminder of the importance of critical thinking and fact-checking in the age of social media. As of August 2024, both Lowe's and Home Depot continue to operate successfully, with Lowe's reporting revenue of $97.1 billion and Home Depot $157.4 billion for the fiscal year 2022.

"This statement is false. Lowe's CEO did not make this comment."

In conclusion, the altered CNBC graphic and the fabricated quote attributed to Lowe's CEO Marvin Ellison have been thoroughly debunked. This case underscores the ongoing challenge of combating misinformation in the digital age and the need for vigilance when consuming and sharing information online.