Lowe's Companies Inc
Lowe's is not only a world-class retailer, it is also committed to building a skilled trades workforce of the future.
Founded in 1946, Lowe's has grown from a small hardware store to a FORTUNE 50 home improvement company service approcimately 17 million customers per week in the United States, Canada and Mexico.
The Lowe's story becan in North Carolina when H. Carl Buchan, part owner of the North Wilsboro Hardware Company envisioned creation a chain of hardware stores. At the time, Lowe's was a typical small-town hardware store selling everything from overalls to wash tubs, work boots and even horse collars.
Carl Buchan later purchased the company from his brother-in-law and partner, James Lowe. Buchan anticipated the post-World War II building boom and concentrated on selling only hardware, applicances and hard-to-find building materials. By eliminating wholesalers and dealing directly with manufacturers, Lowe's established a lasting reputation for low prices.
Sales grew over time, and Lowe's stores opened in neighboring towns throughout western North Carolina. The company went public in 1961, and began trading on the New York Stock Exchange in 1979 (NYSE: LOW). During this time, U.S. housing starts soared and professional builders became Lowe's loyal customers, comprosing most of Lowe's business.
In 1982, Lowe's had it's first billion-dollar sales year, earning a record profit of $25 million. Lowes stores then began serving a new type of customer: do-it-yourself homeowners seeking to improve the value of their properties.
Anticipating DIY needs while still accommodating contractors, we began to enlarge stores and expand merchandise offerings. Lowe's opened its first 100,000-square-foot store in 1990, and the modern Lowe's began in 1995, with the launch of the first Lowe's website.
The company expanded in to Canada in 2007 and opened our first stores in Mexico in 2010. In 2013, Lowe's acquired Orchard Supply Hardware to expand our presence in California through smaller-format neighborhood stores. We grew our Canadian footprint in 2016 with the acquisition of RONA, inc. Today, Lowe's and it's related businesses operate or service more than 2,355 home improve and hardware stores.