Lowes was founded in 1921 in the city of North Wilkesboro, North Carolina. Lowes now serves more than fourteen million customers every single week it has stores in the United States and Canada, the expansion to Canada began in the year of 2007, when Lowes opened a store in Hamilton, Ontario in early 2008. Lowes has many stores in the United States 1,710 stores to be exact there are 20 stores in Canada. Lowes Company Inc. will be opening up a store in Australia sometime in the year of 2011. There are even some Lowes in Mexico. Lowes Company Inc. is ranked 43 on the Fortune 500 list. Out of Hardware chains Lowes Company Inc. is in second behind Home Depot and ahead of Menards. Lowes Company Inc. is also the second largest United States appliance retailer next to Sears. The founder of Lowes Company Inc. was Lucius S. Lowe who opened Lowe’s North Wilkesboro Hardware. The business was later inherited by Lucius’s daughter Ruth when he died in the year 1940. She then sold the company to her brother Jim in the same year. Ruth and her mother ran the store well Jim Lowe and Ruth’s husband Carl Buchan both served in World War II. Jim Lowe later took on Carl Buchan as a partner in the company. With Carl Buchan’s management the store focused on hardware and building materials. The company bought another store in Sparta, North Carolina. That is what started it all slowly expanding and forming into the company that Lowe’s Company Inc. is today. If you need to get a job done in your home weather it’s remodeling your bathroom, painting the garage, or building a shed and tools to put inside of it then Lowes is the place to go. There Slogan being “let’s build something together” since the mid to late 2000’s in the early 2000’s there slogan was “Improving Home Improvement” but before that their tagline was “Lowe’s Knows.” Lowe’s Company Inc. had an Annual Revenue of $47,220 billion dollars last year in 2009 it was$48,230 billion 2008 it was $48,283 billion and in 2007 it was $46,927 billion. The Annual Profit of Lowes Company Inc. last year was $16,463 billion in 2009 it was $16,501 billion in 2008 it was $16,727 billion in 2007 it was $16,198 billion. Lowe’s Company Inc. had an operating cost of $44,395 billion in 2009 $44,724 billion in 2008 $43,772 billion in and in 2007 $41,929 billion. The wages that Lowe’s payed out last year was $11,737 billion in 2009 $11,176 billion in 2008 $10,656 and in 2007 $9,884 billion. Lowe’s Company Inc. is expanding and striving it may not be number one in Hardware Chains or in appliance retailer but they are in second in both so that’s pretty good if I would say so.
Resources:
http://en.wikipedia.org/wiki/Lowe's
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