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LOWE'S
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Lowe's (NYSE: LOW) is an American chain of home improvement and major appliance retail stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now operates (as of February 28, 2006) over 1,225 stores in 49 states (excepting Vermont) and is number 42 on the Fortune 500 list. The chain is based in Mooresville, North Carolina, which is about 30 minutes north of downtown Charlotte. It is now the second-largest hardware chain in the United States of America, after Home Depot. In June 2005, Lowe's announced its interest in the Canadian market. In March 2006, the company decided to open 10 stores by 2007, in the Greater Toronto Area. Lowe's has a long term plan of opening 100 stores across Ontario and eventually in other provinces.
Lowe's has attempted to position themselves as a more consumer-friendly alternative to their primary rival, The Home Depot. Many of their advertisements portray Lowe's as an unintimidating warehouse catering to consumers and contractors equally. Lowe's corporate culture is very customer-service oriented and the company makes a point to be welcoming and inviting to consumers.
In 2006, Lowe's adopted a new slogan "Let's Build Something Together" in order to convey that Lowe's is here to help you every step of the way with your home improvement projects.
In the state of California, former and current employees of Lowe's have received notice of a class action lawsuit that claims Lowe's has not fully paid its employees hours worked, including overtime and holiday.
Major sponsorships
Lowe's has purchased naming rights of Lowe's Motor Speedway (formerly Charlotte Motor Speedway) in Concord, North Carolina, which is home to several auto racing events annually. The corporation also sponsors NASCAR drivers Jimmie Johnson(Nextel Series #48) and Kyle Busch (Busch Series #5), both of whom drive for Hendrick Motorsports, as well as Adrian Fernandez and Mario Haberfeild in the Rolex Sports Car Series.
Voice
Gene Hackman's voice can be heard on many commercial advertisements for Lowe's.
External links
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