| Lowe's Companies, Inc. | |
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| Type | Public (NYSE: LOW) |
| Founded | 1946[1] (North Wilkesboro, NC) |
| Headquarters | Mooresville, NC, North York, Ontario |
| Key people | Robert Niblock, CEO & Chairman [ Larry Stone, COO & President |
| Industry | Home Improvement |
| Products | Retail - Home Improvement |
| Revenue |  $46. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Year 1946 ( MCMXLVI) was a Common year starting on Tuesday (link will display full 1946 calendar of the Gregorian calendar. North Wilkesboro is a town in Wilkes County, North Carolina, United States. Mooresville is a town in Iredell County, North Carolina, USA. North York forms the central part of the northern half of Toronto, Ontario, Canada. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Home improvement or home renovation is the process of renovating or making additions to one's home In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Home improvement or home renovation is the process of renovating or making additions to one's home In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 9 billion USD (2006) |
| Employees | 210,000 |
| Website | www.lowes.com, www.lowes.ca |
Lowe's Home Improvement Warehouse (NYSE: LOW) is a US-based chain of retail home improvement and appliance stores. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The United States of America —commonly referred to as the Home improvement or home renovation is the process of renovating or making additions to one's home Refrigerator1svg|left|100px]]A major appliance, or domestic appliance, is usually defined as a large Machine which accomplishes some routine housekeeping task which Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves over 13 million customers a week in its 1555 stores in 50 states and Canada. North Wilkesboro is a town in Wilkes County, North Carolina, United States. Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page With the opening of the South Burlington, Vermont location,[2] Lowe's now operates stores in all 50 states. South Burlington is a city in Chittenden County, Vermont, in the United States. Vermont ( is a state in the New England region of the northeastern United States of America. Expansion into Canada began in 2007, with the opening of a store in Hamilton, Ontario. Lowe's Companies, Inc. is 48 on the Fortune 500[3] list. Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content As of 2008, the chain is based in Mooresville, North Carolina, about 30 minutes north of uptown Charlotte. Mooresville is a town in Iredell County, North Carolina, USA. Lowe's is the second-largest hardware chain[4] in the U. S. behind The Home Depot. The Home Depot ( is an American Retailer of Home improvement and construction products and services
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History
Lucius S. Lowe opened Lowe's North Wilkesboro Hardware in North Wilkesboro, North Carolina in 1921. North Wilkesboro is a town in Wilkes County, North Carolina, United States. North Carolina ( is a state located on the Atlantic Seaboard in the southeastern United States Year 1921 ( MCMXXI) was a Common year starting on Saturday (link will display full 1921 calendar of the Gregorian calendar The business was inherited by his daughter, Ruth, when Lucius died in 1940. She sold the company to her brother, Jim, that same year. Jim Lowe and Ruth's husband, Carl Buchan, both served in World War II, and during the war, the store was run by Ruth and her mother. Jim took on Carl (honorably discharged after receiving an injury) as a partner in 1943.
Under Buchan's management, the store focused on hardware and building materials. Before then, the product mix had also included notions, dry goods, horse tack, snuff, produce, and groceries. The company bought a second store in Sparta, North Carolina, in 1949. Sparta is a town in Alleghany County, North Carolina, United States.
Carl Buchan and Jim Lowe differed on expanding the company to new areas, and they split in 1952, with Buchan taking control of the hardware and building supply business, and Lowe taking other joint ventures the two controlled, including a car dealership. Buchan became the sole owner of Lowe's.
Buchan quickly expanded, opening stores by 1955 in Asheville, Charlotte, and Durham, North Carolina. Asheville is a City in and the County seat of Buncombe County, North Carolina, United Durham is a city in the US state of North Carolina. It is the County seat of Durham County North Carolina ( is a state located on the Atlantic Seaboard in the southeastern United States More stores opened through the 1950s.
In 1960 Carl Buchan died of a heart attack at age 44. His five-man executive team, which included Robert Strickland and Leonard Herring, took the company public in 1961. By 1962 Lowe's operated 21 stores and reported annual revenues of $32 million. [5]
Lowe's continued to expand throughout the southeast United States.
It suffered in the 1980s, due to market conditions and increasing competition from the new big-box chain, The Home Depot. The Home Depot ( is an American Retailer of Home improvement and construction products and services For a while, Lowe's resisted adopting the big-box format, partly because Lowe's management believed that the smaller towns where Lowe's mostly operated would not support huge stores. However, Lowe's eventually had to adopt the big-box format in order to survive. Today most Lowe's stores are of the big-box variety, though some classic format stores remain in smaller markets.
Lowe's has since grown nationally, aided by the purchase of Eagle Hardware & Garden in 1999. It is now the second-largest home improvement chain in North America, and has begun expanding outside the United States, starting with the Southern Ontario area. The first store outside of United States was in Hamilton, Ontario at Barton Street and Woodward Avenue. Hamilton (ˈhæməltən ( 2006 population 504559 UA population 647634 CMA population See also List of streets in Hamilton Ontario Barton Street is an arterial road in the Lower City of Hamilton Ontario, Canada.
Organization
Lowe's is organized geographically into Divisions (such as Southeast, West, Northeast), Regions, Areas, Districts and then the individual store. A Lowe's store can have anywhere from 80 to over 400 employees depending on the size and sales volume.
Brands
As with large retailers across North America, Lowe's also owns and exclusively sells certain brands. Some of the brands found at the Lowe's stores are:
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Lowe's offers customers about 40,000 products in stock and more through a Special Order Service. Robert Bosch GmbH is a German diversified technology-based corporation which was started in 1886 by Robert Bosch in Stuttgart Germany. Black & Decker Corporation ( is a Corporation based in Towson Maryland, that makes and markets Power tools and accessories hardware DeWalt is a world-wide brand of Power tools for the Construction and Woodworking industries Fisher & Paykel is a Major appliance manufacturing company based in East Tamaki, New Zealand. Frigidaire is a major US Appliance company owned by Electrolux. A ceiling fan is a device suspended from the ceiling of a room which employs hub-mounted rotating paddles to circulate air in order to produce a cooling or Destratification () is a Multinational corporation specializing in high-technology and services headquartered in Marunouchi Itchome Chiyoda, Tokyo, Japan. Husqvarna AB ( is a Swedish company that is the world's largest manufacturer of Chainsaws, lawn and garden equipment and cutting equipment for the stone and construction industries Jacuzzi is a company that produces whirlpool Bathtubs History Around 1900 seven brothers named Jacuzzi (pronounced yah-KUH-tzih immigrated Deere & Company the firm founded by John Deere began to expand it range of equipment to include the Tractor business in 1912 The Kohler Company is a manufacturing company in Kohler Wisconsin Maytag Corporation was a $47 billion home and commercial appliance company headquartered in Newton Iowa from 1893-2006 Whirlpool Corporation ( is a Fortune 500 company and a global manufacturer and marketer of major Home appliances,with annual sales of approximately $18 billion more Miracle-Gro is a brand of plant food and soil products made by Scotts Miracle-Gro Company. Pella Corporation is an American Window and Door manufacturing company Roundup is the brand name of a systemic broad-spectrum Herbicide produced by the U Samsung Electronics (SEC Hangul:삼성전자,,,) is the world's largest Consumer electronics company headquartered in Seocho Samsung Town in Scotts Miracle-Gro Company ( is an American Multinational corporation headquartered in Marysville Ohio. Wood-plastic composite (commonly abbreviated as WPC) is a non-recyclable Composite material Lumber or Timber made of recycled plastic MTD Products (Modern Tool and Die Company of Cleveland Ohio, USA began in 1932, and is a family-owned private company
Environmental record
Lowe’s was awarded the Energy Star retail partner of the year in 2004. Lowe’s was awarded for its outstanding contribution to reducing greenhouse gas emissions through promoting energy-efficient products and educating consumers and employees on the value of the Energy Star program. [6] In 2000 Lowe’s released a policy that will make sure all wood products they sell won’t come from endangered forests. "Our new environmental policy represents a major victory for the forests and our customers," said Bob Tillman, Chairman and CEO of Lowe's. "Our customers expect Lowe's to deliver the best quality lumber and wood products that have been responsibly harvested and produced by our suppliers. " [7]However according to a new report released by the Environmental Investigation Agency, lumber that Lowe’s has been selling is coming from the forests of Indonesia’s remote Papua Province, where 80 percent of logging is estimated to be illegal. [8]
Advertising and sponsorships
Prior to 2006, the Lowe's tagline was "Improving Home Improvement," and before that was "Lowe's Knows. A tagline is a variant of a branding slogan typically used in Marketing materials and Advertising. " In 2006, Lowe's adopted the new slogan "Let's Build Something Together. "
In 2006 Lowe's partnered with designer Marianne Cusato to develop and offer affordable house plans for the hurricane-affected Gulf region. Lowe's is the exclusive retailer for both the plans and building materials for the Lowe's Katrina Cottage. Katrina Cottages are small residential shelters designed and marketed in the United States in the wake of Hurricane Katrina (August 2005 They offer easy construction and affordability, as well as the possibility of expansion. Moreover, they meet all international building codes and exceed hurricane codes. [9]
Lowe's has a wide variety of television and radio commercials. A significant number of different racing-inspired commercials can be seen and are often played outside of television race coverage. Gene Hackman's voice can be heard on many commercial advertisements for Lowe's. Eugene Allen "Gene" Hackman (born January 30, 1930) is a two-time Academy Award -winning American actor and author [10]
In 2006 Lowe's began sponsoring the radio broadcast booth of the New York Yankees. The New York Yankees are a professional baseball team based in the borough of The Bronx, in New York City, New York. Frequently during every game Yankees announcer John Sterling states "We are coming to you live from the Lowe's Broadcast Booth. John Sterling may refer to John Sterling (author (1806&ndash1844 British John Sterling (Heinlein, fictional character Lowe's: Let's build something together. "
Lowe's and other landscaping companies landscape some areas of Busch Gardens Europe. Busch Gardens Europe is a Theme park located in James City County, Virginia about 3 miles (5 km southeast of Williamsburg.
Racing sponsorships
Lowe's purchased naming rights of Lowe's Motor Speedway (formerly Charlotte Motor Speedway) in Concord, North Carolina in 1999. Naming rights are the right to name a piece of Property, either tangible property or an event usually granted in exchange for financial considerations Lowe's Motor Speedway (formerly Charlotte Motor Speedway) is a speedway in Concord North Carolina, north of Charlotte. Concord (kän-kord is a city in the US state of North Carolina. Lowe's Motor Speedway is home to several auto racing events annually. Auto racing (also known as automobile racing, motor racing or car racing) is a Motorsport involving Racing Cars It In addition to the naming rights, Lowe's is also an associate sponsor of several Speedway Motorsports Inc. properties such as Atlanta Motor Speedway and Bristol Motor Speedway. Atlanta Motor Speedway (formerly Atlanta International Raceway) is an Intermediate track in Hampton Georgia, twenty miles (32 km south of Bristol Motor Speedway, originally known as Bristol International Raceway and Bristol Raceway is a NASCAR short track located in Bristol Lowe's, through its Kobalt brand, sponsors the spring race at Atlanta Motor Speedway known as the Kobalt Tools 500. Kobalt is a Fictional Superhero who starred in his own self titled series that was published by Milestone Comics and released by Atlanta Motor Speedway (formerly Atlanta International Raceway) is an Intermediate track in Hampton Georgia, twenty miles (32 km south of The Kobalt Tools 500 is a NASCAR Sprint Cup stock car race that is actually in length held in March at Atlanta Motor Speedway in Hampton Georgia
The corporation is the primary sponsor for 2006 & 2007 NASCAR Sprint Cup champion Jimmie Johnson in the #48 Chevrolet Impala SS and a part time sponsor of the #5 Nationwide Series team; both teams are owned by Hendrick Motorsports. The National Association for Stock Car Auto Racing ( NASCAR) is the largest sanctioning body of Stock cars in the United States. Jimmie Kenneth Johnson The Chevrolet Impala was through 1996 a Full-sized Automobile built by General Motors for their Chevrolet division The NASCAR Nationwide Series is a Stock car racing series owned and operated by the National Association of Stock Car Auto Racing. Hendrick Motorsports is a Stock car racing team that currently competes in the NASCAR Sprint Cup Series. Prior to the current sponsorship deal with Hendrick Motorsports, Lowe's was the sponsor of the #31 Chevrolet for Richard Childress Racing driven by Mike Skinner and Robby Gordon from 1997 to 2001. Hendrick Motorsports is a Stock car racing team that currently competes in the NASCAR Sprint Cup Series. RCR Enterprises LLC, doing business as Richard Childress Racing, is a NASCAR team fielding Chevrolets for Kevin Harvick, Clint Bowyer Mike Skinner (born June 28, 1957 in Ontario California is a NASCAR driver from Susanville, California now living in Daytona Robert W Gordon (born in Bellflower California, on January 2, 1969) is an American Racing driver who currently competes in the NASCAR Year 1997 ( MCMXCVII) was a Common year starting on Wednesday (link will display full 1997 Gregorian calendar Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. Prior to the RCR deal, Lowe's was the primary sponsor of the #11 Ford driven by Brett Bodine for Junior Johnson And Associates, and later, Brett's own team, Brett Bodine Racing (after Bodine bought the #11 team from Johnson). Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following Brett Bodine (born January 11, 1959, in Chemung, New York) is a former NASCAR Winston Cup driver and is the current driver Robert Glen Johnson Jr (born June 28, 1931 in Wilkes County North Carolina) known as Junior Johnson, was a Moonshiner in the Brett Bodine Racing was a NASCAR racing team from 1996 until 2003
Lowe's also sponsors Fernandez Racing in the American Le Mans Series and previously sponsored the team in the Rolex Sports Car Series. Fernández Racing is a motor racing team that competes in the American Le Mans Series and previously Champ Car, the IRL IndyCar Series, and the The American Le Mans Series ( ALMS) is a Sports car racing series based in the United States and Canada. The Rolex Sports Car Series is the premiere series run by the Grand American Road Racing Association.
Lowe's Canada
Based in Toronto, Ontario, Lowe's Canada opened its first three stores on December 10, 2007, in Hamilton, Brampton and Brantford. Hamilton (ˈhæməltən ( 2006 population 504559 UA population 647634 CMA population Toronto (təˈrɒntoʊ colloquially pronounced or) is the largest city in Canada and is the provincial capital of Ontario Events 1041 - Empress Zoe of Byzantium elevates her adoptive son to the throne of the Eastern Roman Empire as Michael V Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Hamilton (ˈhæməltən ( 2006 population 504559 UA population 647634 CMA population Brampton (pronounced bramton is the third-largest city in the Greater Toronto Area of Ontario, Canada and the seat of Peel Region. Brantford is a city located on the Grand River in south-western Ontario, Canada. On February 1, 2008, they opened three more stores in Toronto, East Gwillimbury and a second store in Brampton. Events 1327 - Teenaged Edward III is crowned King of England, but the country is ruled by his mother Queen 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Toronto (təˈrɒntoʊ colloquially pronounced or) is the largest city in Canada and is the provincial capital of Ontario [11]
Each store represents an average investment of $20. 5 million ($20. 4 million USD).
Lowe's benefits, employment, and culture
Lowe's offers its employees benefits including 401(k) and stock-purchase plans, medical coverage and disability benefits. In the United States of America a 401(k plan allows a worker to save for retirement while deferring Income taxes on the saved money and earnings until withdrawal Lowe's also offers all employees and their spouses or domestic partners (same or opposite sex) a 10% discount on store products. Lowe's has a policy of inclusion and anti-discrimination.
Six company holidays are standard including New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. New Year's Day is the first day of the Year. On the modern Gregorian calendar, it is celebrated on January 1, as it was also in ancient Rome (though Memorial Day is a United States Federal holiday observed on the last Monday of May (on May in) An Independence Day is an annual celebration commemorating the Anniversary of a Nation 's assumption of independent Statehood, usually after ceasing Labor Day is a United States Federal holiday observed on the first Monday in September Thanksgiving, or Thanksgiving Day, is a traditional North American Holiday, which is a form of harvest festival. All holidays except Thanksgiving and Christmas are working holidays, with full-time employees receiving eight hours of holiday pay which can now be banked and utilized, and part-time employees receiving four.
Full-time hourly employees are entitled to two weeks of vacation after one year of service, three weeks after five years of service, and four weeks after fifteen years of service, while salaried corporate employees with prior experience often receive two weeks of vacation immediately. Lowe's also offers a comprehensive service reward to long-term employees, such as additional vacation time and a series of gifts, ranging from a two-year pin to a thirty-year Rolex watch. Rolex SA is a Swiss manufacturer of Wristwatches and accessories
Lowe's offers a 401(k) plan is available after six months of employment. Employees are given a wide selection of mutual funds to invest in, as well as company stock. In addition, Lowe's contributes a baseline match to all employees following 180 days of service. Employees can contribute up to 50% of their paycheck, and the company will fully match the first 3% and partially match up to 6%.
Lowe's markets itself internally and externally as a customer-focused organization in contrast to Home Depot, a contractor-oriented organization. The Home Depot ( is an American Retailer of Home improvement and construction products and services While both companies employ specialists from their respective fields, Lowe's provides a supplemental commission-pay structure with a philosophy of retaining energized quality staffing, while Home Depot's employees are paid a flat salary. The marketing strategy between Lowe's and Home Depot is similar to the strategy between Target and Wal-Mart, with Lowe's stressing a softer and kinder image, appealing to women. Target Corporation ( is an American Retailing company that was founded in Minneapolis Minnesota in 1902 Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores
Lowe's class actions
Lowe's was involved in a small cluster of class action lawsuits, that all revolve around Lowe's employee payment system. In Law, a class action or a representative action is a form of Lawsuit where a large group of people collectively bring a claim to court The cases focused on a pay practice known as "variable rate overtime". Variable rate overtime has the effect of paying a decreasing overtime rate the more hours a person works in a week. The suits alleged that salaried managers who worked between 40 and 50 hours per week, were improperly compensated for that time. The variable rate overtime ended in the first quarter of 2006.
The first case was filed in October 2002 by employees of the Lowe's store in Shawnee, Kansas. Shawnee is a rapidly growing city located in northwest Johnson County, Kansas, United States and is a western suburb of Kansas City Missouri In September 2005 the cases was certified as class action. Lowe's has four similar cases in New York, Indiana, Pennsylvania and Ohio. New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous The State of Indiana ( was the 19th US state admitted into the union The Commonwealth of Pennsylvania ( often colloquially referred to as PA (its abbreviation by natives and Northeasterners is a state located in the Northeastern Ohio ( is a Midwestern state of the United States. As part of the Great Lakes region, Ohio has long been a cultural and geographical crossroads The lawsuits for New York, Indiana and Kansas resulted in an out of court settlement on September 22, 2006. Events 66 - Emperor Nero creates the Legion I Italica. 1236 - The Lithuanians Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. [12] The settlement was paid within the first two weeks of November 2007.
The lawsuit in Pennsylvania became a class-action lawsuit in June 2004, with 550 employees. [13][14]
The case in Ohio was filed by ten former Lowe’s employees, in August of 2004. [15]
Online
The domain lowes. com receives at least 7 million unique visitors per month[16].
References
- ^ Lowe's History
- ^ Lowe's Opens First Vermont Store
- ^ Fortune 500 List
- ^ Lowe's targets Canada, No. 2 U.S. home retailer plans 100 store openings to tap into expanding, $39 billion market, Sep 20, 2007 04:30 AM, Toronto Star
- ^ Lowe's History
- ^ Lowe's Named ENERGY STAR (R) Retail Partner of the Year. CSRwire. com (2004-02-05). "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Events 1576 - Henry of Navarre converts to Roman Catholicism in order to ensure his right to the throne of France. Retrieved on 2008-05-06. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1527 - Spanish and German troops sack Rome; some consider this the end of the Renaissance.
- ^ Lowe's Launches Forest Protection Initiative. socialfunds. com (2000-08-11). 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar. Events 2492 BC - Traditional date of the defeat of Bel by Hayk, progenitor and founder of the Armenian nation Retrieved on 2008-05-06. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1527 - Spanish and German troops sack Rome; some consider this the end of the Renaissance.
- ^ Butler, Rhett A. (2006-03-23). Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 1174 - Jocelin, Abbot of Melrose, is elected Bishop of Glasgow. Home Depot, Lowe's selling illegal wood from Papua New Guinea-Report. mongabay.com. Mongabay.com is a web site that publishes news on Environmental science, Energy and Green design, and features extensive information on Tropical Retrieved on 2008-05-06. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1527 - Spanish and German troops sack Rome; some consider this the end of the Renaissance.
- ^ Lowe's Katrina Cottages F&Q
- ^ Gene Hackman -other works
- ^ Lowe's Canada Store Locator
- ^ Lowe's to settle class-action suit, David Twiddy, AP Business Writer, September 22, 2006
- ^ Class-action lawsuit faults Lowe's on OT, By James Haggerty, TRIBUNE STAFF WRITER, 02/28/2005
- ^ denial of Lowe's motion to dismiss
- ^ Liability For Back Pay Looms at Lowe's Stores, LawsuitSearch. com, retrieved March 27, 2008
- ^ Compete.com survey
External links
- Lowes.com
- Lowe's Creative Ideas Magazine
- Lowe's Moving Center
- Lowe's Racing
- Lowe's Canada
- Lowe's Red Apron (unofficial site)
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