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This article appears to be written like an advertisement. Please help improve it by rewriting promotional content from a neutral point of view and removing any inappropriate external links. (December 2011) |
| Type | Public |
|---|---|
| Traded as | NYSE: LOW S&P 500 Component |
| Industry | Retailing |
| Founded | North Wilkesboro, North Carolina (1946)[1] |
| Headquarters | Mooresville, North Carolina, U.S. |
| Number of locations | 1,749 (January 2011)[2] |
| Area served | United States, Canada, Mexico, Australia |
| Key people | Robert Niblock (Chairman and CEO) |
| Products | Home Improvement |
| Revenue | |
| Operating income | |
| Net income | |
| Total assets | |
| Total equity | |
| Employees | 234,000 (2011)[2] |
| Website | www.lowes.com |
Lowe's Companies, Inc. (NYSE: LOW) is a U.S.-based chain of retail home improvement and appliance stores that has retail stores in the United States, Canada, and Mexico. Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada. Expansion into Canada began in 2007, with the opening of a store in Hamilton, Ontario, in early 2008. Lowe's started the construction of two stores in the Mexican city of Monterrey officially entering the Mexican market.[3] In 2011, Lowe's released plans to build over 150 stores in Australia over the coming five years, hoping to compete with the AUD$46 billion industry. Lowe's Companies, Inc. is 43 on the Fortune 500[4] list. As of 2010, the chain is based in Mayfield, KY near Paducah, KY. Lowe's is the second-largest hardware chain[5] in the U.S. behind The Home Depot and ahead of Menards. Globally, Lowe's is also the second-largest hardware chain, again behind The Home Depot and ahead of the European stores B&Q and OBI.
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This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (January 2011) |
Lucius S. Lowe opened Lowe's North Wilkesboro Hardware in North Wilkesboro, North Carolina, in 1921. 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.
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. Lowe started the Lowes Foods grocery store chain in 1954.
Buchan quickly expanded, opening stores by 1955 in Asheville, Charlotte, and Durham, North Carolina. 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.[1][6]
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. For a while, Lowe's resisted adopting the mega-store 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.
Lowe's announced on August 25, 2009, that it had entered a joint venture with the Australian retailer Woolworths to enter the Australian market with 150 big box style superstores. Trading under the brand Masters Home Improvement, the first store opened in Braybrook, Victoria, to tradesmen on August 31, 2011, and the general public on September 1, 2011.
Lowe's Companies is based in Mooresville, North Carolina.
The headquarters of subsidiary Lowe’s Companies Canada, ULC are located in Toronto, Ontario and opened in 2006.[7]
Lowe's is organized geographically into Divisions (Northeast, Southeast, North Central, South Central, and West), Regions, Districts and then the individual store. It is decentralized. A Lowe's store can have anywhere from 80 to over 400 employees depending on the size and sales volume.
Lowe's is also one of the top 50 trademark applicants according to the United States Patent and Trademark Office.[8] As with other large retailers across North America, Lowe's also owns and exclusively sells certain brands. Some of the brands sold at Lowe's Stores are included below: [9]
Lowe's Build and Grow clinics are free workshops for children put on by Lowe's on the second and fourth Saturday of each month.
These workshops are free of charge and allow children and their parents an opportunity to experience the joy of building things hands on. Children have a new project at each clinic. They are given an apron and a patch for each project completed. Projects include building boxes, napkin holders, toys such as a dinosaur, and holiday-themed items.
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This article appears to be written like an advertisement. Please help improve it by rewriting promotional content from a neutral point of view and removing any inappropriate external links. (December 2011) |
Lowe's has won eight consecutive ENERGY STAR awards (2003–2010), including four ENERGY STAR Partner of the Year awards for educating consumers about the benefits of energy efficiency. On March 1, 2010 Lowe's also became the first winner of the ENERGY STAR Sustained Excellence Award in Retail. The award recognizes Lowe's long-standing leadership as a retailer of energy-efficient products. 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.[10] In 2000, Lowe’s released a policy promising that all wood products sold would not be sourced from rainforests. "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."[11] However according to a new report released by the Environmental Investigation Agency, wood used in flooring 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.[12] As part of Lowe's ongoing effort to preserve the environment, the company uses direct deposit for its payroll. Employees without a bank account receive a Chase Payroll Card. As of 5/2010, over 250,000 Lowe's employees participate in direct deposit.
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. They offer easy construction and affordability, as well as the possibility of expansion. Moreover, they meet all international building codes and exceed hurricane codes.[13]
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. However, Ben Yannette is currently doing the Lowe's advertising campaign voice-overs.[14]
In 2006, Lowe's began sponsoring the radio broadcast booth of the New York Yankees. Frequently during every game Yankees announcer John Sterling states "We are coming to you live from the Lowe's Broadcast Booth. Lowe's: Let's build something together."[citation needed]. The tag line has been changed in September 2011 to 'Never Stop Improving'.
Lowe's purchased naming rights of Charlotte Motor Speedway in Concord, North Carolina, in 1998, and the speedway changed names to Lowe's Motor Speedway. After the ten year naming rights expired, Lowe's extended naming rights by one year. After the one year extension expired, Lowe's discontinued naming rights, and as of the 2010 racing season the racetrack returned to its original name. Lowe's is an associate sponsor of several Speedway Motorsports, Inc. properties such as Atlanta Motor Speedway and Bristol Motor Speedway.
The corporation is the primary sponsor for five-time NASCAR Sprint Cup champion Jimmie Johnson in the #48 Chevrolet Impala SS and it was a part time sponsor of the former #5 Nationwide Series team; both teams are owned by Hendrick Motorsports. 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. 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).
Lowe's also sponsors Fernandez Racing in the American Le Mans Series and previously sponsored the team in the Rolex Sports Car Series; in that series, Lowe's sponsors the #99 Gainsco Stallings Racing Pontiac in events where Johnson is driving.
Lowe's withdrew its advertising from the TLC reality television show All-American Muslim in December 2011.[15] One organization that criticized the show was the Florida Family Association, which claimed that the TV show was "propaganda that riskily hides the Islamic agenda's clear and present danger to American liberties and traditional values."[16] A spokesperson for Lowe's said that "we understand the program raised concerns, complaints, or issues from multiple sides of the viewer spectrum, which we found after doing research of news articles and blogs covering the show."[15]
Lowe's faced a backlash from several quarters, including Muslim-American and Arab-American organizations. The American-Arab Anti-Discrimination Committee called upon members to contact Lowe's to urge it to reverse its position.[17] The Los Angeles chapter of the Council on American-Islamic Relations met to consider possible actions, including boycotts and protests.[18] Several celebrities also called for a boycott.[18] California State Senator Ted Lieu called Lowe's decision "naked religious bigotry" and said he would consider legislative action if Lowe's did not apologize to Muslim-Americans and reinstate the ads.[16] Abraham Foxman of the Anti-Defamation League expressed similar views.[19] Keith Ellison, the first Muslim elected to the United States Congress, criticized Lowe's decision to "uphold the beliefs of a fringe hate group and not the creed of the 1st Amendment."[18] Representative John Conyers of Michigan called on Lowe's to apologize. Michigan state representative Rashida Tlaib contacted the company's corporate headquarters, reporting that Lowe's declined to change its decision.[17]
Based in Toronto, Ontario, Lowe's opened its first three stores in Canada on December 10, 2007, in Hamilton, Brampton and Brantford. On February 1, 2008, they opened three more stores in Toronto, East Gwillimbury and a second store in Brampton as well as a new location in Maple (Vaughan).[20] Currently, additional stores are under construction, with 19 now open in the province of Ontario. Lowe's also recently announced expansion into Western Canada, starting with three new stores in Calgary, Alberta. One of the three locations opened in late September 2010. The other two are projected to open in early 2011.
Each store represents an average investment of $20.5 million ($20.4 million USD).[21]
Trading as Masters Home Improvement, the first store opened in Braybrook, Victoria to tradesmen on 31 August 2011, and the general public on 1 September 2011. Masters is a joint venture of the Lowe's Companies Inc. and Woolworths Limited to compete against Wesfarmers' owned Bunnings Warehouse which operate in the large bigbox format similar to Lowe's and Home Depot.
The stores will be 1/3 owned by Lowe's Companies Inc.(USA) and 2/3 owned by Woolworths Limited (Australian Owned Public Company Listed on the Australian Securities Exchange (ASX).
Lowe's was involved in a small cluster of class action lawsuits, that all revolve around Lowe's employee payment system. 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. In September 2005, the cases were certified as class action. Lowe's has four similar cases in New York, Indiana, Pennsylvania and Ohio. The lawsuits for New York, Indiana and Kansas resulted in an out-of-court settlement on September 22, 2006.[22]
The lawsuit in Pennsylvania became a class-action lawsuit in June 2004, with 550 employees.[23][24] The case in Ohio was filed by ten former Lowe’s employees, in August 2004.[25]
Lowe's is still facing multiple lawsuits from its Loss Prevention Managers citing that they were misclassified as exempt employees and therefore denied overtime pay. The managers assert that they were forced to work a minimum of 48 hours per week which saved Lowe's and its investors, millions of dollars every year. Lawsuits have been settled for $2.95M in California and $6.2M in Texas.
| Wikimedia Commons has media related to: Lowe's |
Sanford Police officer Keith Frye was off duty and shopping inside Lowe's Home Improvement in Sanford NC when a large tornado — one of more than 20 in North Carolina on April 16, 2011 — approached. With his cell phone, Frye recorded the tornado as it approached, turned off his camera as he sought safety in the rear of the store, and turned it back on as the more than 100 customers and employees stumbled out of the wreckage. I apologize for the video's ratio, it was a skinny cell phone camera that did not transfer well when converted into an .mov file ... so the image appears "stretched". *There is a slight language warning for those who may be offended.*
Sanford NC tornado Lowe's Home Improvement Sanford Herald
6/20/07 - Oklahoma City, OK USA - KFOR News Channel 4 - From JohnTV.com and the Video Vigilante. This is a news story regarding a Lowe's driver that is caught on tape engaging in sex with a street hooker in South OKC.
johntv videovigilante video vigilante
A Dan O'Rourke film. Lowe's Home Improvement Warehouse sends an untrained forklift operator on a neighborhood delivery, with tragic results for a Houston area woman and her family. Written, produced and directed by Dan O'Rourke. c. 2011, Twin Lion Communications, Houston and El Paso, Texas. Post Production services by Spiral Stare Case Productions, Los Angeles. Sole property of The O'Quinn Law Firm, Houston Texas. Executive producers Mike Meyer and Neil McCabe. Material may not be used for any purpose without express permission.
Lowes forklift accident tragedy
the store number is 1502 go to www.jakeandgreg.com ull love it A video blog about pranking and goofing off at Lowes while i work. this is a fun video blog i did to help pass the time. Hope you enjoy please comment and rate and subscribe or i will eat your soul.
In Winter 2011, The Lowe's Company pulled their television commercials from TLC's new series "All-American Muslim" at pressure from a Florida Christian Group ...This is that commercial. by Gregory Bonsignore, Parvesh Cheena, Rizwan Manji Directed by Gregory Bonsignore Starring Rizwan Manji & Parvesh Cheena Music by Aalok Mehta Camera by Christine Sinacore, Shannon McKain, Arnie Pantoja [جميع الأميركيين المسلمين التلفزيون التجاري]
A hilarious sendup of corporate incompetence and disdain for its customers.
Police are looking for a robber, caught on tape stealing in broad daylight before hitting a man with a car.
What really happens in the employee only section of Lowe's
Never Stop Improving Song: Don't Stop Artist: Gin Wigmore Many products in this commercial are available at www.Lowes.com SCENE 1 (WAKE UP) 0 -------------------------------------------- Levolor Honey Pine Faux Wood Plantation Blind www.lowes.com Acrylic Stack Ball Lamp Base www.lowes.com Style Selections Off-White Drum Lampshade www.lowes.com SCENE 2 (LAMP) 0:04 -------------------------------------------- Harbor Breeze Ceiling Fan www.lowes.com GE White Countertop Microwave www.lowes.com Whirlpool Freestanding Electric Range www.lowes.com Arcadia Cabinets - Painted Valspar White www.lowes.com Levolor Dover Faux Wood Plantation Blind www.lowes.com Frigidaire ENERGY STAR Compact Refrigerator www.lowes.com Tiella Bronze Mini Pendant Light www.lowes.com SCENE #3 (MIRROR) 0:11 -------------------------------------------- Allen & Roth Wormwood Circle Mirror www.lowes.com Style Selections Gray Drum Lamp Shade www.lowes.com Tiella Bronze Arm Sconce www.lowes.com SCENE #4 (MARRIAGE) 0:19 -------------------------------------------- allen + roth 2 Light Bronze Arm Sconce www.lowes.com Bel Air Lighting 1-Light Nickel Arm Sconce www.lowes.com SCENE #5 (KIDS) 0:29 -------------------------------------------- Shaw Blue Berries Area Rug www.lowes.com ABC Puzzle Play Mats www.lowes.com ClosetMaid Brown Fabric Drawer www.lowes.com ClosetMaid Powder Blue Fabric Drawer www.lowes.com ClosetMaid Natural Fabric Drawer www.lowes.com ClosetMaid Black Fabric Drawer www.lowes.com ClosetMaid 9 ...
lowe's commercial 2011 don't stop lowe's lowes
Lowe's home improvement expert, Mike Kraft, shows how to properly and safely install low voltage lights under cabinets in your home kitchen. For more tips and instructional videos on how to update your home, visit www.Lowes.com
under cabinet lighting under cabinets lighting lighting under cabinets
I worked at lowes store 1502 go to www.jakeandgreg.com ull love it Watch as I perform much more intense and dangerous shenanigans at work. ENJOY Cus my heart beat was aracin' that shift hahaha.
Lowe's home improvement expert, Mike Kraft, gives helpful tips on cleaning gutters and downspouts. Learn what tools you will need, how to remove leaves and branches, as well as other gutter maintenance tips. To find how to install gutter screens to keep out debris, visit www.Lowes.com
cleaning gutters clean rain gutters cleaning rain gutters gutter cleaning
Chris Murphy (politician) Lowe's
www.Lowes.com MyLowe's is a collection of tools designed to revolutionize, customize and simplify home improvement. *Track purchase history with a MyLowe's card. *Get organized with Folders & Lists. *Stay on top of seasonal needs with Reminders. *Make managing your home easier with Home Profile. For more information on MyLowe's, visit http Song: "I Make My Own Sunshine" by Alyssa Bonagura
lowes lowe's spring storage lowes commercial
The Lowe's Creative Ideas team shows how you can easily create an outdoor water fountain for your garden. Learn what materials you will need, how to hook up the water feature and what decorative touches you can add. For more creative ideas and videos like this one, visit www.Lowes.com
Find quality service, superior products and helpful advice for all your home improvement needs at Lowe's. Shop for appliances, paint, patio furniture, tools, flooring ...
Since 1946, home is what Lowe's has been all about - helping our customers improve their homes, while creating a world-class environment our employees are proud to ...
Shop at Lowe's for pool pumps, sump pumps, sewage pumps and utility pumps. Also find electric water heaters, hot water dispensers, bathroom and kitchen sink faucets ...
Lowes.com: Careers: Job Search: Job Search Results ... LLC. Lowe's will provide reasonable accommodation to complete the online ...
Lowes.com: Careers: Areas of Opportunity: Store ... Retail may be constantly evolving, but one thing that never changes is Lowe’s ...
Home Improvement at Lowe's. Your source for appliances, tools, home decor, lighting, kitchen cabinets, ceramic tile and kitchen design
Lowe's Companies, Inc. (NYSE: LOW) is a U.S. -based chain of retail home improvement and appliance stores that has retail stores in the United States, Canada, and Mexico.
Lowes.com MyLowe's Creative Ideas ... Picture Frame Planter. Saturday, May 12. Spring has sprung! Your child will love ...
Register your kids for a FREE Lowe's Build and Grow Clinic. Bring the kids to your local Lowe's every other Saturday at 10 a.m. to build a wooden project they can keep.
Lowes Complaints: This chain of retail and home improvement and appliance stores is represented in every U.S. state and Canada. In 2009 Lowe's is going to open its ...
Find lowes and lowes gift card from a vast selection of Gift Certificates. Get great deals on eBay!
Lowe's offers a Consumer Credit Card and Project Card to finance all of your home improvement needs. Learn about special offers and apply at Lowes.com
Lowe's Tool World Channel - see tool innovation in action - See the most innovative new tool on the Tool World Channel from Lowe's Home Improvement
Get the latest 2012 Lowes coupons & deals from ShopAtHome.com. Use Lowes online coupons & codes and save even more with exclusive 6% Cash Back deals.
Lowes Foods is a unique chain of supermarkets based in Winston Salem, North Carolina.