Compare And Contrast Home Depot Vs Lowe's
Business Description: Lowe’s companies, Inc. established 72 years ago at the year of 1921, Its a home improvement retailer, functions through the United States for building materials and supplies. Headquartered in North Wilkesboro, North Carolina, serves more than 17 million customers a week from all stores. Currently, Lowe’s operates in 1,820 stores within the United States and 310 stores internationally in Canada and Mexico. Lowe’s is known as the second largest US home appliances retailer after Sears.
Lowe’s has two different design layouts for their stores. One of their layouts that cater more to the larger metropolitan markets while the other layout is smaller an intended more remote location areas. The sizing of the store depends on which area and group that they are trying to reach. Stores that are owned by Home Depot stock product quantity amounts from 35,000 to 45,000 in a year for their stores (encyclopedia.com, 2017.)These products include power tools, painting materials, plumbing materials, electrical materials, appliances, gardening materials, landscaping items, and more. On the contrary, Lowes has a large number additional products in their store that include home décor items, home repair materials, home maintenance, and more that can be specially ordered (encyclopedia.com,
Financial Analysis The Home Depot has consistently produced excellent financial numbers, especially over the past few years. These results solidify them as the leader in the industry. Strong financials and pure size of the company are two contributing factors to success. As importantly, statistical analysis show The Home Depot to be an extremely well managed corporation. Total sales from Q3 2016 totaled $22.15 billion, an increase of 6.1% from the year prior.
Strength Strong and efficient distribution system One of the strength that Lowe’s possess is the strong and efficient distribution system. Lowe’s operates 14 regional distribution systems. They also have 15 flatbed distribution centres for lumber, building materials and other long-length items. This allows Lowe’s to efficiently distribute 75% of its merchandise to its sores. Its customers can make a large scale order at once and get discount.
Annual Reports and Press releases The annual reports and press releases of both companies slightly differ though with a portion of similarity. Although, Home Depot’s annual report is composed at the headquarters of giving an inclusive report on all of the retail stores in the world, through the company’s website these reports posted can be found. Therefore, this being impartial and all-inclusive to an extent of analysis it would have to be done on the contrasts, similarities, profitability, and performance of different retail stores in different regions or countries. However, the shareholders and customers analyze the summary provided to know the general performance.
Companies all over the globe will experience some sales and profit decrease. Home Depot in the growing housing industry benefited greatly from the houses being built. The accounting concept portrayed in this situation for home depot is called operating leverage. Operation leverage is when managers view a small change in revenue and magnify it to dramatic changes in revenue (Edmonds, Tsay, & Olds, 2011). With a decrease in the market for construction materials, Home Depot is experiencing a 3% decrease revenue and a 21% decrease in profitability.
Also, customers may worry Ron may give them too much information on products; they could get confused about the information on the products Ron is trying to sell the company (Chang & Chen, 2009). If a company could see the products such as pens, pencils, paper, and other office supplies they would be able to see the quality of the products and purchase them (Chang & Chen,
As we begin I feel that we need to look at the History of one of the top two home improvement stores in the world. Like so many companies that have grown to be known around the world lowes is not much different. The story of a sleeping giant began in the small town of North Wilkesboro, North Caroline back in 1921 under the name of Lowe’s North Wilkesboro Hardware L.S Lowe run the store until his death at which time the store was taken over by his son James Lowe and his brother in-law Carl Buchan their owner ship would be put on hold due to World War II with both of them serving in the Army it was during this time that the Mother and sister run the Store. Buchan was wounded and discharged from the Army due to his injuries in 1943 and returned
Dear Mr. Wheeler & Mr. Ellison. To accomplish both companies' goals of driving foot traffic, I recommend a partnership between Lowe's and Dunkin' Donuts. Given the substantial market share held by both Dunkin' and Lowes and the highly concentrated nature of these markets, forming a partnership is the next logical step toward growth. Strategically placing Dunkin Donuts outlets within Lowes Stores will introduce new clientele, increase sales, and increase foot traffic. One of the main advantages of co-locating Dunkin' within Lowe's stores is the potential to attract new clientele.
The atmosphere of any setting is continuously fluctuating in both obvious and vague ways. A hardware store such as Home Depot is a prominent example of this fluctuation. Home Depot has been providing hardware products for both home and business improvement needs since 1978. Home Depot sells products that fall under categories such as: paint, lumber, electrical, plumbing, garden, and more. The diversity among the customer population is wide ranging, from the different ethnicities, nationalities, and gender shopping on any given day.
Physical department store (brick and mortar retail store) will be around in 30 years. In my opinion, both the Internet purpose online shopping including brick and mortar retail stores (freestanding unit) will go in hand together bring customer needs and satisfaction. Customer today uses multiple channel, customer uses direct channel such as internet conduct a research a products and brand on stores website. If they consider to purchase, customer can save so much money ordering online. Also, it save time to shop at home with a click.
They are able to offer these products through collaborations with third party suppliers as well as their own brand of products. Home depot also provide
These features encompass the overall stylistic or innovative aspects of a website, such as contrasting colors, pictures, animation, and playfulness, which keep the user engaged while he or she navigates through multiple Web pages. The Home Depot makes great use of aesthetic features to attract the viewer’s attention to the friendly, family-oriented culture by the images displayed on the website. Also, the website utilizes videos and pictures where associates affectionately tell their unique stories about their
Hardworking American soldiers are being put in dangerous missions to help ship cargo for military technology corporations. Meanwhile, all of the tax payer's money that goes to the military goes straight to corporations that focus on improving military advancement in weaponry, instead of soldiers' hospital bills or survival needs. In addition to the immoral acts of corporations, companies like Parson's Corporation are given a significant amount of money to spend, only to produce low quality products to make more money for themselves. Yet, CEOs are still living luxurious lifestyles without having to worry about a single concern. 2) “Cashing In On Terror.”
Dillard's and Macy's are both retail department stores that generally target the middle-to-higher-priced market, offering women's, men's, and children's clothing and accessories; house wares; home furnishings; and furniture. Dillard's was found by William Dillard in 1938 and has evolved to a business that now generates $6.78 billion in revenue in 2015. Dillard's holds a presence is the South, Southwest and Midwest. Dillard's has over 300 stores operating in 29 different states. Macy's has deep roots dating back to 1818.
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