Lowe’s Companies is a publicly traded business on the New York Stock Exchange (LOW). It is a component of the S&P 500 and the Russell 3000 Indices. The business is registered as an American operator of a chain of retail home improvement and appliance stores. With more than 1,750 store locations, the company has a strong presence across the United States, in Canada, Australia and in Mexico. The headquarters of the business is located in Mooresville, North Carolina.
The company is also listed as part of the Fortune 500 companies. In fact, in the United States, the business is registered as the second largest hardware chain behind The Home Depot. This is also true internationally, where the business bested European brands and the market being dominated by The Home Depot again.
Although the business was incorporated in 1946, its first store, the Lowe’sNorth Wilkesboro Hardware was established in 1921 by founder Lucius Smith Lowe. When he died, he gave the venture to his daughter, who later on sold the store to his brother. With his strong partnership with Carl Buchan, Jim Lowe was able to make the business work. Buchan has a very strong back on management and was able to open a second branch in no time.
Faced with the presence of The Home Depot, Lowe was compelled to innovate its store formats and eventually turned to turning its locations into big-box format stores. With this step, the company flourished and eventually dominated the international markets.