Lowe's Company Inc is a retail company that was found in 1946 in North Carolina. The first Lowe's was Lowe's North Wilkesboro Hardware, opened in North Wilkesboro, North Carolina in 1921 by Lucius Smith Lowe. Ruth Lowe, daughter or Lucius Lowe inherited the company post Lowe's death. Ruth Lowe later passed the company over to her brother Jim Lowe in 1943 who later partnered with Carl Buchan. Buchan later became the sole owner. He is responsible for the evolution of what Lowe's. Lowe's evolved from a small hardware store to the 2nd largest home improvement retailer worldwide (History, n.d). Lowe's is an international company that comprises of more than 2,370 chain of retail stores in United States, Canada and Mexico with approximately 290,000 employees (About us Lowe's, 2017). The first stores were opened in Canada on December 2007. A few years later, on February 2010 Lowe's opened its first stores in Mexico. …show more content…
From that point on, Lowe's established a lasting reputation of low prices and created a one stop shop for all home owners and commercial builders' projects. In 1961 Lowe's went public. During this time, U.S. housing soared and professional builders became Lowe's loyal customers comprising most of Lowe's business. The organization began to market individual consumers and household "do it yourself" (DIY) model. At that point, Lowe's began to concentrate on selling appliances, hardware and construction materials. In 1982 Lowe's reached their first billion dollar sale earning a record profit of $25