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CNBC graphic with quote from Lowe’s CEO is made up

CNBC graphic with quote from Lowe’s CEO is made up

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The claim: The image shows a CNBC report in which the CEO of Lowe’s told conservatives to “take their money to Home Depot.”

A Facebook post from August 26 (direct link, archive link) appears to show a still from a CNBC broadcast showing a photo of Lowe’s CEO Marvin Ellison next to a quote attributed to him.

“If conservatives don’t like our values, they should take their money to Home Depot,” the alleged quote says.

The post was shared over 300 times within two days. A similar version circulated on Instagram.

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Our rating: Changed

The image was digitally edited to change the text of the quote attributed to Ellison. The graphic was not from an authentic CNBC report, a spokesperson for the network said. Lowe’s said the statement attributed to the CEO was a fabrication.

Statement fabricated, did not appear in CNBC report

The alleged statement is a fabrication that did not appear in any authentic CNBC report, say spokespeople for Lowe’s and the network.

Ellison did not make the comment attributed to him, Lowe’s said in an Aug. 26 X-post. The graphic with the statement in the Facebook post was not broadcast by CNBC, spokeswoman Steph Hirlemann told USA TODAY. It is an edited version of a still image from an Aug. 20 clip of the home improvement retailer’s second-quarter earnings report.

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While the video includes two full-screen graphics with statements attributed to Ellison, neither mentions conservatives shopping at a rival store. Instead, the first graphic quotes Ellison as saying, “Inflation remains high. And expensive purchases are being put off as customers sit back and wait for interest rates to fall.” The statement in the second graphic reads, “It’s not like we’ve seen a dramatic shift in overall consumer sentiment one way or the other.”

The fabricated quote made the rounds as Lowe’s came under fire from a conservative activist who opposes companies that promote diversity, equity and inclusion programs, USA TODAY previously reported. The home improvement chain changed some of its DEI policies, said it would no longer participate in surveys for LGBTQ+ advocacy group Human Rights Campaign and is combining three diverse employee resource groups into one.

USA TODAY contacted several social media users who shared the claim but did not immediately receive a response.

PolitiFact and Snopes have also refuted this claim.

Our fact-checking sources:

  • Steph Hirlemann, August 28, email exchange with USA TODAY
  • Lowe’s, August 26, X-Post
  • CNBC, August 20, Lowe’s cuts annual forecast as company expects weaker home improvement sales
  • CNBC (Archive), August 28, Lowe’s CNBC Graphic 1
  • CNBC (Archive), August 28, Lowe’s CNBC Graphic 2

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USA TODAY is a verified signatory of the International Fact-Checking Network, which requires a demonstrated commitment to nonpartisanship, fairness and transparency. Our fact-checking work is supported in part by a grant from Meta.

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