Lowe's

Lowe's Companies, Inc. is one of the largest home improvement retailers in the world, operating over 1,750 stores across North America with approximately 270,000 employees. As the second-largest hardware chain in the United States behind rival Home Depot, Lowe's serves as a go-to destination for both do-it-yourself (DIY) customers and professional contractors. The company operates in an approximately $1 trillion home improvement sector, generating over $83 billion in annual revenue for fiscal year 2024.

Founded in 1921 by L.S. (Lucius Smith) Lowe as a small hardware store in North Wilkesboro, North Carolina, the company has evolved from selling diverse products including hardware, building materials, sewing notions, dry goods, horse tack, snuff, produce and groceries to becoming a specialized home improvement powerhouse. After World War II, Carl Buchan, who became part owner during Jim Lowe's military service, refocused the company solely on home improvement products and transformed it into a national chain.

Lowe's business model centers on retailing home improvement products through a dual-market approach, serving both Business-to-Consumer (B2C) and Business-to-Business (B2B) customers. The company offers an extensive range of products including lumber, tools, appliances, paint, hardware, plumbing supplies, garden supplies, and home décor. Beyond product sales, Lowe's differentiates itself through professional installation and repair services, adding revenue streams that reinforce customer loyalty. The company has successfully blended its extensive physical presence with a robust e-commerce platform, offering a seamless omnichannel retail experience.

In December 2024, Lowe's unveiled its 2025 Total Home Strategy, designed to drive long-term growth and market share by helping customers solve their home improvement needs with more value and exceptional service. This strategy focuses on expanding offerings for professional customers, enhancing e-commerce capabilities, growing home service offerings, unifying loyalty programs, and improving physical store layouts. The company's strategic acquisitions, including the $1.325 billion purchase of Artisan Design Group in 2025 and the landmark $8.8 billion acquisition of Foundation Building Materials announced in August 2025, demonstrate Lowe's commitment to expanding its professional services portfolio and competing more effectively with rival Home Depot.

Lowe's maintains competitive advantages through a blend of competitive pricing, product diversity, and strong customer service focus. The company leads in the major appliances market with 40.2% share, ahead of Home Depot's 36.2%, while also maintaining strong positions across multiple product categories. Under the leadership of CEO Marvin R. Ellison since July 2018, Lowe's continues to execute on strategic initiatives including digital transformation, professional customer penetration (reaching 30% in 2025), and sustainability efforts with over 100 rooftop solar panel sites operational by the end of fiscal 2024.