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Lowe's leadership regrets derogatory comments about Hispanics



"This is perfect for them. Lifetime guarantee on this. What else could you want?" said Joe McFarland, Lowe's ( LOW ) executive vice president of stores, in a company video sent to store employees Monday. The Washington Post first reported on the video.

McFarland apologized after employees criticized his comments online and said they were abusive.

"I apologize for a careless and ignorant comment I made during an affiliate broadcast yesterday," he said in a statement from the company, adding that he took full responsibility and will "spend time in the coming days and weeks with our employees, customers, and business leaders to learn and grow from this moment. "

McFarland joined Lowe's last year from JCPenney ( JCP ) with the company's company stores, operations and trading strategies. He previously worked at Home Depot ( HD ) .

Lowe's did not say he would have any consequences for the comments.

The company operates more than 1
,700 stores in the United States. As of February 1, it employed approximately 190,000 full-time and 110,000 part-time workers in the United States, Canada and Mexico. Earlier this month, Home Depot said it would lay off thousands of workers, including installers who assembled items such as barbecue and outdoor furniture. It will also cut maintenance and civil service jobs, such as janitors, and outsource these positions to third-party companies.

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