[Wcsa - Wowtimes - Almanac Events & Achievements 2022] Major steps that shape Lowe's Companies, Inc.'s 91-year history (1921)

03-08-2022

(wcsa.world) Lowe's Companies, Inc., often shortened to Lowe's, is an American retail company specializing in home improvement. Headquartered in Mooresville, North Carolina, the company operates a chain of retail stores in the United States and Canada. As of February 2021, Lowe's and its related businesses operates 2,197 home improvement and hardware stores in North America.

Lowe's is the second-largest hardware chain in the United States (previously the largest in the U.S. until surpassed by The Home Depot in 1989) behind rival The Home Depot and ahead of Menards. It is also the second-largest hardware chain in the world, also behind The Home Depot but ahead of European retailers Leroy Merlin, B&Q, and OBI.

 

 

The company’s milestones:

1921 - L.S. Lowe founds Lowe’s North Wilkesboro Hardware. In addition to hardware and building materials, the store sold sewing notions, dry goods, horse tack, snuff produce and groceries.

1946 - Anticipating the dramatic increase in construction after World War II, Lowe’s joint-owner Carl Buchan re-focuses the company solely on home improvement products.

1949 - Growth in North Carolina Lowe’s opens its second store, in Sparta, N.C.

1954 - Jim Lowe started the Lowes Foods grocery store chain.

 

 

1955 - With six stores now in operation, Buchan incorporated the business as Lowe's North Wilkesboro Hardware, Inc.

1958 -  Lowe’s reaches 344 associates. Lowe's then shifts focus from DIY customers to Pros.

1961 - Lowe’s becomes a publicly-traded company on October 10, 1961. Roughly 400,000 shares are sold at $12.25 per share on the first day of trading.

1964 - Lowe’s serves one million customers annually for the first time.

On December 19, 1919  - Lowe’s is listed on the New York Stock Exchange.

1981 - Lowe’s is listed on the London Stock Exchange as of January 26, 1981.

 

 

1984 - Lowe’s is named a “Top 100 Best Companies to Work for in America” by Fortune Magazine.

1995 - Lowes.com is launched, marking the company’s entrance into the digital market.

1999 -  The Lowe’s Employee Relief Fund is established to help associates through times of significant financial hardship.

2002 -  Lowe's acquired full control over the 440,000 square feet (41,000 m2) building after the 10 remaining mall tenants vacated the property.

2003 - Lowe's constructed and relocated the corporate headquarters to a new, 350-acre campus in Mooresville, North Carolina. The new facility contains a five-story and two seven-story buildings.

 

 

2007 - Lowe’s expands outside of the United States in 2007, opening its first stores in Canada in December.

2010 - According to its website, Lowe's has operated/serviced more than 2,355 locations in the United States, Canada, and Mexico alone, although the Mexican stores were closed in the late 2010s.

2015 - Lowe’s continues its global approach to hardware and establishes an office in Bangalore, India.

2016 - Lowe’s purchases RONA in 2016, expanding its reach in Canada.

As of 2018 - Lowe’s maintains its presence in the North American home improvement market through its 400 stores across 24 states.

According to en.wikipedia.org; zippia.com.


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