Lowe's
Encyclopedia
Lowe's Companies, Inc. is a U.S.
-based chain of retail
home improvement
and appliance
stores. Founded in 1946 in North Wilkesboro, North Carolina
, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada
. Expansion into Canada began in 2007, with the opening of a store in Hamilton, Ontario
, in early 2008. Lowe's started the construction of two stores in the Mexican city of Monterrey
officially entering the Mexican market. In 2011, Lowe's released plans to build over 150 stores in Australia over the coming 5 years, hoping to compete with the AUD$46 billion industry.
Lowe's Companies, Inc. is 43 on the Fortune 500
list. As of 2010, the chain is based in Mooresville, North Carolina
, near Charlotte, North Carolina
. Lowe's is the second-largest hardware chain in the U.S. behind The Home Depot
and ahead of Menards
. Globally, Lowe's is also the second-largest hardware chain, again behind The Home Depot and ahead of the Europe
an stores B&Q
and OBI
.
, in 1921. The business was inherited by his daughter, Ruth, when Lucius died in 1940. She sold the company to her brother, Jim, that same year. Jim Lowe and Ruth's husband, Carl Buchan, both served in World War II, and during the war, the store was run by Ruth and her mother. Jim took on Carl (honorably discharged after receiving an injury) as a partner in 1943.
Under Buchan's management, the store focused on hardware and building materials. Before then, the product mix had also included notions, dry goods, horse tack, snuff, produce, and groceries. The company bought a second store in Sparta, North Carolina
, in 1949.
Carl Buchan and Jim Lowe differed on expanding the company to new areas, and they split in 1952, with Buchan taking control of the hardware and building supply business, and Lowe taking other joint ventures the two controlled, including a car dealership. Buchan became the sole owner of Lowe's. Lowe started the Lowes Foods
grocery store chain in 1954.
Buchan quickly expanded, opening stores by 1955 in Asheville, Charlotte
, and Durham
, North Carolina
. More stores opened through the 1950s.
In 1960, Carl Buchan died of a heart attack at age 44. His five-man executive team, which included Robert Strickland and Leonard Herring, took the company public in 1961. By 1962 Lowe's operated 21 stores and reported annual revenues of $32 million.
Lowe's continued to expand throughout the southeast United States.
It suffered in the 1980s, due to market conditions and increasing competition from the new big-box
chain, The Home Depot
. For a while, Lowe's resisted adopting the mega-store format, partly because Lowe's management believed that the smaller towns where Lowe's mostly operated would not support huge stores. However, Lowe's eventually had to adopt the big-box format in order to survive. Today most Lowe's stores are of the big-box variety, though some classic format stores remain in smaller markets.
Lowe's has since grown nationally, aided by the purchase of Eagle Hardware & Garden in 1999. It is now the second-largest home improvement chain in North America, and has begun expanding outside the United States, starting with the Southern Ontario area. The first store outside of United States was in Hamilton, Ontario
, at Barton Street
and Woodward Avenue.
Lowe's announced on 25 August 2009 that it had entered a joint venture with the Australia
n retailer Woolworths
to enter the Australian market with 150 big box style superstores. Trading under the brand Masters Home Improvement
, the first store opened in Braybrook, Victoria
, to tradesmen
on 31 August 2011, and the general public on 1 September 2011.
.
The headquarters of subsidiary Lowe’s Companies Canada, ULC are located in Toronto
, Ontario
and opened in 2006.
. As with other large retailers across North America
, Lowe's also owns and exclusively sells certain brands.
for its payroll. Employees without a bank account receive a Chase Payroll Card. As of 5/2010, over 250,000 Lowe's employees participate in direct deposit.
, and Charlotte, North Carolina
. These cities also hold the companies corporate headquarters.
was "Improving Home Improvement," and before that was "Lowe's Knows." In 2006, Lowe's adopted the slogan "Let's Build Something Together." In the mid-to-late 2000s most of Lowe's tv spots were soundtracked with the Bruce Hornsby song, "Gonna Be Some Changes Made." In 2011, Lowe's began using the slogan "Never Stop Improving."
In 2006, Lowe's partnered with designer Marianne Cusato
to develop and offer affordable house plans for the hurricane-affected Gulf region. Lowe's is the exclusive retailer for both the plans and building materials for the Lowe's Katrina Cottage
. They offer easy construction and affordability, as well as the possibility of expansion. Moreover, they meet all international building codes and exceed hurricane codes.
Lowe's has a wide variety of television and radio commercials. A significant number of different racing-inspired commercials can be seen and are often played outside of television race coverage. Gene Hackman
's voice can be heard on many commercial advertisements for Lowe's. However, Ben Yannette is currently doing the Lowe's advertising campaign voiceovers.
In 2006, Lowe's began sponsoring the radio broadcast booth of the New York Yankees
. Frequently during every game Yankees announcer John Sterling
states "We are coming to you live from the Lowe's Broadcast Booth. Lowe's: Let's build something together."
Lowe's and other landscaping companies landscape some areas of Busch Gardens Williamsburg.
The domain lowes.com receives at least 7 million unique visitors per month.
of Charlotte Motor Speedway
in Concord, North Carolina
, in 1998, and the speedway changed names to Lowe's Motor Speedway. After the ten year naming rights expired, Lowe's extended naming rights by one year. After the one year extension expired, Lowe's discontinued naming rights, and as of the 2010 racing season the racetrack returned to its original name. Lowe's is an associate sponsor of several Speedway Motorsports, Inc. properties such as Atlanta Motor Speedway
and Bristol Motor Speedway
.
The corporation is the primary sponsor for five-time NASCAR
Sprint Cup champion Jimmie Johnson
in the #48 Chevrolet Impala SS and a part time sponsor of the #5 Nationwide Series team; both teams are owned by Hendrick Motorsports
. Prior to the current sponsorship deal with Hendrick Motorsports
, Lowe's was the sponsor of the #31 Chevrolet
for Richard Childress Racing
driven by Mike Skinner
and Robby Gordon
from 1997 to 2001. Prior to the RCR deal, Lowe's was the primary sponsor of the #11 Ford driven by Brett Bodine
for Junior Johnson And Associates
, and later, Brett's own team, Brett Bodine Racing
(after Bodine bought the #11 team from Johnson).
Lowe's also sponsors Fernandez Racing
in the American Le Mans Series
and previously sponsored the team in the Rolex Sports Car Series
; in that series, Lowe's sponsors the #99 Gainsco Stallings Racing Pontiac in events where Johnson is driving.
Based in Toronto
, Ontario
, Lowe's opened its first three stores in Canada on December 10, 2007, in Hamilton
, Brampton
and Brantford. On February 1, 2008, they opened three more stores in Toronto
, East Gwillimbury
and a second store in Brampton as well as a new location in Maple (Vaughan). Currently, additional stores are under construction, with 19 now open in the province of Ontario. Lowe's also recently announced expansion into Western Canada, starting with three new stores in Calgary
, Alberta
. One of the three locations opened in late September 2010. The other two are projected to open in early 2011.
Each store represents an average investment of $20.5 million ($20.4 million USD).
, the first store opened in Braybrook, Victoria
to tradesman
on 31 August 2011, and the general public on 1 September 2011. Masters
is a joint venture of the Lowe's Companies Inc. and Woolworths Limited
to compete against Wesfarmers' owned Bunnings Warehouse
which operate in the large bigbox format similar to Lowe's and Home Depot.
The stores will be 1/3 owned by Lowe's Companies Inc.(USA) and 2/3 owned by Woolworths Limited (Australian Owned Public Company Listed on the Australian Securities Exchange (ASX)
.
, Memorial Day
, Independence Day
, Labor Day
, Thanksgiving Day, and Christmas Day. All holidays except Thanksgiving and Christmas are working holidays, with full-time employees receiving eight hours of holiday pay which can now be banked and utilized, and part-time employees receiving four.
Full-time hourly employees are entitled to two weeks of vacation after one year of service, three weeks after five years of service, and four weeks after fifteen years of service, while salaried corporate employees with prior experience often receive two weeks of vacation immediately. Lowe's also offers a comprehensive service reward to long-term employees, such as additional vacation time and a series of gifts, ranging from a two-year pin to a thirty-year Rolex
watch.
Lowe's offers health, vision, and dental plans for full-time employees. In addition, part-time employees are eligible for health benefits as well, although the part-time employees' health plan is more limited than those offered for full-time employees. Lowe's further offers a variety of other health-and-wellness benefits including optional pre-paid legal services and a program called LifeTrack, which offers programs and rewards to encourage healthy behavior in employees (including smoking cessation
and weight-loss programs and incentives).
Lowe's offers a 401(k)
plan for employees after six months of employment. Employees are given a wide selection of mutual funds to invest in, as well as company stock. In addition, Lowe's contributes a baseline match to all employees following 180 days of service. Employees can contribute up to 50% of their paycheck, and the company will fully match the first 3% and partially match up to 6% after the employee has been enrolled in the program for a full year. In addition to the 401(k) plan, employees may also elect to participate in a stock-purchase program in which employees contribute either a flat dollar amount or a percentage of their paycheck for a period of 6 months, after which the company purchases Lowe's stock for the employee at a discount equal to 15% off the price of the stock on the last day of the 6 month period.
The first case was filed in October 2002 by employees of the Lowe's store in Shawnee, Kansas
. In September 2005, the cases were certified as class action. Lowe's has four similar cases in New York
, Indiana
, Pennsylvania
and Ohio
. The lawsuits for New York, Indiana and Kansas resulted in an out-of-court settlement on September 22, 2006.
The lawsuit in Pennsylvania became a class-action lawsuit in June 2004, with 550 employees.
The case in Ohio was filed by ten former Lowe’s employees, in August 2004.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
-based chain of retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
home improvement
Home improvement
Home improvement, home renovation or remodeling is the process of renovating or making additions to one's home.-Types of home improvement:...
and appliance
Major appliance
A major appliance, or domestic appliance, is usually defined as a large machine which accomplishes some routine housekeeping task, which includes purposes such as cooking, or food preservation, whether in a household, institutional, commercial or industrial setting...
stores. Founded in 1946 in North Wilkesboro, North Carolina
North Wilkesboro, North Carolina
North Wilkesboro is a town in Wilkes County, North Carolina, United States. The population was approximately 4,116 at the 2000 census and is now 4,245 as of the 2010 census. North Wilkesboro is the birthplace and original home of Lowe's Home Improvement, which continues to have a major presence in...
, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. Expansion into Canada began in 2007, with the opening of a store in Hamilton, Ontario
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
, in early 2008. Lowe's started the construction of two stores in the Mexican city of Monterrey
Monterrey
Monterrey , is the capital city of the northeastern state of Nuevo León in the country of Mexico. The city is anchor to the third-largest metropolitan area in Mexico and is ranked as the ninth-largest city in the nation. Monterrey serves as a commercial center in the north of the country and is the...
officially entering the Mexican market. In 2011, Lowe's released plans to build over 150 stores in Australia over the coming 5 years, hoping to compete with the AUD$46 billion industry.
Lowe's Companies, Inc. is 43 on the Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
list. As of 2010, the chain is based in Mooresville, North Carolina
Mooresville, North Carolina
Mooresville is a large suburban town in southern Iredell County, North Carolina, USA. It is in the Metrolina metro area. The population was 32,133 at the 2010 United States Census...
, near Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. Lowe's is the second-largest hardware chain in the U.S. behind The Home Depot
The Home Depot
The Home Depot is an American retailer of home improvement and construction products and services.The Home Depot operates 2,248 big-box format stores across the United States , Canada , Mexico and China, with a 12-store chain...
and ahead of Menards
Menards
Menards is a chain of home improvement stores in the Midwestern United States.The privately held company headquartered in Eau Claire, Wisconsin has 262 stores in 13 states: Ohio, Michigan, Indiana, Illinois, Wisconsin, Minnesota, Iowa, Missouri, Nebraska, Kansas, South Dakota, North Dakota, and...
. Globally, Lowe's is also the second-largest hardware chain, again behind The Home Depot and ahead of the Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
an stores B&Q
B&Q
B&Q plc is a multinational DIY and home improvement retailer headquartered in Eastleigh, United Kingdom. It was founded in 1969 and is a wholly owned subsidiary of Kingfisher plc, which is listed on the London Stock Exchange....
and OBI
OBI (store)
Founded in 1970, OBI GmbH & Co. Deutschland KG is the second largest DIY retailer in Europe, and the fourth largest in the world, behind The Home Depot, Lowe's and Kingfisher plc. It is headquartered in Wermelskirchen, Germany, and belongs to the Tengelmann Group.-OBI in Europe:It formerly had...
.
History
Lucius S. Lowe opened Lowe's North Wilkesboro Hardware in North Wilkesboro, North CarolinaNorth Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
, in 1921. The business was inherited by his daughter, Ruth, when Lucius died in 1940. She sold the company to her brother, Jim, that same year. Jim Lowe and Ruth's husband, Carl Buchan, both served in World War II, and during the war, the store was run by Ruth and her mother. Jim took on Carl (honorably discharged after receiving an injury) as a partner in 1943.
Under Buchan's management, the store focused on hardware and building materials. Before then, the product mix had also included notions, dry goods, horse tack, snuff, produce, and groceries. The company bought a second store in Sparta, North Carolina
Sparta, North Carolina
Sparta is a town in Alleghany County, North Carolina, United States. The population was 1,817 at the 2000 census. It is the county seat of Alleghany County.-Geography:Sparta is located at ....
, in 1949.
Carl Buchan and Jim Lowe differed on expanding the company to new areas, and they split in 1952, with Buchan taking control of the hardware and building supply business, and Lowe taking other joint ventures the two controlled, including a car dealership. Buchan became the sole owner of Lowe's. Lowe started the Lowes Foods
Lowes Foods
Lowes Foods is a grocery store chain based in Winston-Salem, North Carolina. The company now has 102 stores in North Carolina, five in South Carolina, and two in Virginia...
grocery store chain in 1954.
Buchan quickly expanded, opening stores by 1955 in Asheville, Charlotte
CHARLOTTE
- CHARLOTTE :CHARLOTTE is an American blues-based hard rock band that formed in Los Angeles, California in 1986. Currently, they are signed to indie label, Eonian Records, under which they released their debut cd, Medusa Groove, in 2010. Notable Charlotte songs include 'Siren', 'Little Devils',...
, and Durham
Durham, North Carolina
Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham County and also extends into Wake County. It is the fifth-largest city in the state, and the 85th-largest in the United States by population, with 228,330 residents as of the 2010 United States census...
, North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
. More stores opened through the 1950s.
In 1960, Carl Buchan died of a heart attack at age 44. His five-man executive team, which included Robert Strickland and Leonard Herring, took the company public in 1961. By 1962 Lowe's operated 21 stores and reported annual revenues of $32 million.
Lowe's continued to expand throughout the southeast United States.
It suffered in the 1980s, due to market conditions and increasing competition from the new big-box
Big-box store
A big-box store is a physically large retail establishment, usually part of a chain. The term sometimes also refers, by extension, to the company that operates the store...
chain, The Home Depot
The Home Depot
The Home Depot is an American retailer of home improvement and construction products and services.The Home Depot operates 2,248 big-box format stores across the United States , Canada , Mexico and China, with a 12-store chain...
. For a while, Lowe's resisted adopting the mega-store format, partly because Lowe's management believed that the smaller towns where Lowe's mostly operated would not support huge stores. However, Lowe's eventually had to adopt the big-box format in order to survive. Today most Lowe's stores are of the big-box variety, though some classic format stores remain in smaller markets.
Lowe's has since grown nationally, aided by the purchase of Eagle Hardware & Garden in 1999. It is now the second-largest home improvement chain in North America, and has begun expanding outside the United States, starting with the Southern Ontario area. The first store outside of United States was in Hamilton, Ontario
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
, at Barton Street
Barton Street (Hamilton, Ontario)
Barton Street is an arterial road in the Lower City of Hamilton, Ontario, Canada. It's also the longest street in the city. It starts off at the Western end of town at Locke Street North and is a two-way street that stretches eastward through a number of different and varied communities in the...
and Woodward Avenue.
Lowe's announced on 25 August 2009 that it had entered a joint venture with the Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n retailer Woolworths
Woolworths Limited
Woolworths Limited is a major Australian company with extensive retail interest throughout Australia and New Zealand. It is the:* largest retail company in Australia and New Zealand by market capitalisation and sales...
to enter the Australian market with 150 big box style superstores. Trading under the brand Masters Home Improvement
Masters Home Improvement
Masters Home Improvement is the trading name of an Australian Home Improvement chain, operated by a joint venture between Australian Retailer Woolworths Limited and Mooresville, North Carolina based hardware chain, Lowe's...
, the first store opened in Braybrook, Victoria
Braybrook, Victoria
Braybrook is a suburb 9 km west of Melbourne, Victoria, Australia. Its Local Government Area is the City of Maribyrnong. At the 2006 Census, Braybrook had a population of 6940....
, to tradesmen
Tradesman
This article is about the skilled manual worker meaning of the term; for other uses see Tradesperson .A tradesman is a skilled manual worker in a particular trade or craft. Economically and socially, a tradesman's status is considered between a laborer and a professional, with a high degree of both...
on 31 August 2011, and the general public on 1 September 2011.
Corporate affairs
Headquarters
Lowe's Companies is based in Mooresville, North CarolinaMooresville, North Carolina
Mooresville is a large suburban town in southern Iredell County, North Carolina, USA. It is in the Metrolina metro area. The population was 32,133 at the 2010 United States Census...
.
The headquarters of subsidiary Lowe’s Companies Canada, ULC are located in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
and opened in 2006.
Organization
Lowe's is organized geographically into Divisions (Northeast, Southeast, North Central, South Central, and West), Regions, Districts and then the individual store. It is decentralised. A Lowe's store can have anywhere from 80 to over 400 employees depending on the size and sales volume.Brands
Lowe's is also one of the top 50 trademark applicants according to the United States Patent and Trademark OfficeUnited States Patent and Trademark Office
The United States Patent and Trademark Office is an agency in the United States Department of Commerce that issues patents to inventors and businesses for their inventions, and trademark registration for product and intellectual property identification.The USPTO is based in Alexandria, Virginia,...
. As with other large retailers across North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
, Lowe's also owns and exclusively sells certain brands.
- Allen & Roth (Home Decoration)
- AquaSource (bathroom products)
- Garden Treasures (patio furniture and landscaping)
- Harbor Breeze (ceiling fanCeiling fanA ceiling fan is a fan, usually electrically powered, suspended from the ceiling of a room, that uses hub-mounted rotating paddles to circulate air....
s and accessories) - KobaltKobalt (tools)Kobalt is a line of tools operated by the American home improvement chain Lowe's as their house brand.Lowe's and manufacturing partner J.H. Williams launched Kobalt in 1998, with the intention of competing against rival retailers Sears and The Home Depot and their respective Craftsman and Husky...
(tools) - Olympic (paint)
- Perfect Flame and Masterforge (grills)
- Portfolio (lighting)
- Precision Components (flooring)
- Surface Source (flooring)
- Task Force (tools)
- TopChoice (lumber)
- Utilitech (electrical and plumbing supplies)
- Valspar (paint)
Environmental record
Lowe's has won eight consecutive ENERGY STAR awards (2003–2010), including four ENERGY STAR Partner of the Year awards for educating consumers about the benefits of energy efficiency. On March 1, 2010 Lowe's also became the first winner of the ENERGY STAR Sustained Excellence Award in Retail. The award recognizes Lowe's long-standing leadership as a retailer of energy-efficient products. Lowe’s was awarded for its outstanding contribution to reducing greenhouse gas emissions through promoting energy-efficient products and educating consumers and employees on the value of the Energy Star program. In 2000, Lowe’s released a policy promising that all wood products sold would not be sourced from rainforests. "Our new environmental policy represents a major victory for the forests and our customers," said Bob Tillman, Chairman and CEO of Lowe's. "Our customers expect Lowe's to deliver the best quality lumber and wood products that have been responsibly harvested and produced by our suppliers." However according to a new report released by the Environmental Investigation Agency, wood used in flooring that Lowe’s has been selling is coming from the forests of Indonesia’s remote Papua Province, where 80 percent of logging is estimated to be illegal. As part of Lowe's ongoing effort to preserve the environment, the company uses direct depositDirect deposit
Direct deposit also known as Direct credit is a banking term used to refer to certain payment systems used to transfer money where a payment is initiated by the payer not the payee, namely:* In Europe, the giro system...
for its payroll. Employees without a bank account receive a Chase Payroll Card. As of 5/2010, over 250,000 Lowe's employees participate in direct deposit.
Flagship stores
Lowe's has two flagship locations both in the cities of Wilkesboro, North CarolinaWilkesboro, North Carolina
Wilkesboro is a town in and the county seat of Wilkes County, North Carolina, United States. The population was 3,159 at the 2000 census, and it is the second largest municipality in the county. The 2010 Census listed the town's population at 3,044. The town is located along the south bank of the...
, and Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. These cities also hold the companies corporate headquarters.
Advertising and sponsorships
Prior to 2006, the Lowe's taglineTagline
A tagline is a variant of a branding slogan typically used in marketing materials and advertising. The idea behind the concept is to create a memorable phrase that will sum up the tone and premise of a brand or product , or to reinforce the audience's memory of a product...
was "Improving Home Improvement," and before that was "Lowe's Knows." In 2006, Lowe's adopted the slogan "Let's Build Something Together." In the mid-to-late 2000s most of Lowe's tv spots were soundtracked with the Bruce Hornsby song, "Gonna Be Some Changes Made." In 2011, Lowe's began using the slogan "Never Stop Improving."
In 2006, Lowe's partnered with designer Marianne Cusato
Marianne Cusato
Marianne Cusato is a designer, educator, author, and urban designer based in Greenwich Village in New York City. She was the designer of the "Katrina Cottage," conceived in 2005 as an alternative to the FEMA emergency trailers supplied to some of the newly-homeless survivors of Hurricane Katrina...
to develop and offer affordable house plans for the hurricane-affected Gulf region. Lowe's is the exclusive retailer for both the plans and building materials for the Lowe's Katrina Cottage
Katrina Cottage
Katrina Cottages are small residential shelters designed and marketed in the United States in the wake of Hurricane Katrina . They were designed as a response to the inadequacies of the trailers issued to flood victims by the Federal Emergency Management Agency...
. They offer easy construction and affordability, as well as the possibility of expansion. Moreover, they meet all international building codes and exceed hurricane codes.
Lowe's has a wide variety of television and radio commercials. A significant number of different racing-inspired commercials can be seen and are often played outside of television race coverage. Gene Hackman
Gene Hackman
Eugene Allen "Gene" Hackman is an American actor and novelist.Nominated for five Academy Awards, winning two, Hackman has also won three Golden Globes and two BAFTAs in a career that spanned five decades. He first came to fame in 1967 with his performance as Buck Barrow in Bonnie and Clyde...
's voice can be heard on many commercial advertisements for Lowe's. However, Ben Yannette is currently doing the Lowe's advertising campaign voiceovers.
In 2006, Lowe's began sponsoring the radio broadcast booth of the New York Yankees
New York Yankees
The New York Yankees are a professional baseball team based in the The Bronx, New York. They compete in Major League Baseball in the American League's East Division...
. Frequently during every game Yankees announcer John Sterling
John Sterling
John Sterling may refer to:*John Sterling , British author, subject of a life by Thomas Carlyle*John Sterling, character in Robert A...
states "We are coming to you live from the Lowe's Broadcast Booth. Lowe's: Let's build something together."
Lowe's and other landscaping companies landscape some areas of Busch Gardens Williamsburg.
The domain lowes.com receives at least 7 million unique visitors per month.
Racing sponsorships
Lowe's purchased naming rightsNaming rights
In the private sector, naming rights are a financial transaction whereby a corporation or other entity purchases the right to name a facility, typically for a defined period of time. For properties like a multi-purpose arena, performing arts venue or an athletic field, the term ranges from three...
of Charlotte Motor Speedway
Charlotte Motor Speedway
Charlotte Motor Speedway is a motorsports complex located in Concord, North Carolina, United States 13 miles from Charlotte, North Carolina. The complex features a quad oval track that hosts NASCAR racing including the prestigious Coca-Cola 600 on Memorial Day weekend and the Sprint All-Star Race...
in Concord, North Carolina
Concord, North Carolina
Concord is a city in the U.S. state of North Carolina. According to Census 2010, the city has a current population of 79,066. It is the largest city in Cabarrus County and is the county seat. In terms of population, the city of Concord is the second largest city in the Charlotte Metropolitan Area...
, in 1998, and the speedway changed names to Lowe's Motor Speedway. After the ten year naming rights expired, Lowe's extended naming rights by one year. After the one year extension expired, Lowe's discontinued naming rights, and as of the 2010 racing season the racetrack returned to its original name. Lowe's is an associate sponsor of several Speedway Motorsports, Inc. properties such as Atlanta Motor Speedway
Atlanta Motor Speedway
Atlanta Motor Speedway is a track just outside Hampton, Georgia, twenty miles south of Atlanta. It is a quad-oval track with a seating capacity of over 125,000. It opened in 1960 as a standard oval. In 1994, 46 condominiums were built over the northeastern side of the track...
and Bristol Motor Speedway
Bristol Motor Speedway
Bristol Motor Speedway, formerly known as Bristol International Raceway and Bristol Raceway is a NASCAR short track venue located in Bristol, Tennessee. Constructed in 1960, it held its first NASCAR race on July 30, 1961...
.
The corporation is the primary sponsor for five-time NASCAR
NASCAR
The National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...
Sprint Cup champion Jimmie Johnson
Jimmie Johnson
Jimmie Kenneth Johnson is an American NASCAR Sprint Cup Series race car driver. He currently drives the No. 48 Lowe's Chevrolet for Hendrick Motorsports....
in the #48 Chevrolet Impala SS and a part time sponsor of the #5 Nationwide Series team; both teams are owned by Hendrick Motorsports
Hendrick Motorsports
Hendrick Motorsports , originally named All Star Racing, is a current American auto racing team created in 1984 by Rick Hendrick. The team currently competes in the NASCAR Sprint Cup Series with Chevrolet Impalas...
. Prior to the current sponsorship deal with Hendrick Motorsports
Hendrick Motorsports
Hendrick Motorsports , originally named All Star Racing, is a current American auto racing team created in 1984 by Rick Hendrick. The team currently competes in the NASCAR Sprint Cup Series with Chevrolet Impalas...
, Lowe's was the sponsor of the #31 Chevrolet
Chevrolet
Chevrolet , also known as Chevy , is a brand of vehicle produced by General Motors Company . Founded by Louis Chevrolet and ousted GM founder William C. Durant on November 3, 1911, General Motors acquired Chevrolet in 1918...
for Richard Childress Racing
Richard Childress Racing
RCR Enterprises, LLC, doing business as Richard Childress Racing, is a NASCAR team based in Welcome, North Carolina, and is owned and operated by former driver Richard Childress...
driven by Mike Skinner
Mike Skinner (NASCAR)
Mike Skinner is an American driver in the NASCAR Sprint Cup Series. He is the primary driver of the #60 Big Red Soda Toyota Camry for Germain Racing. He is the father of former NASCAR drivers Jamie and Dustin Skinner...
and Robby Gordon
Robby Gordon
Robert W. "Robby" Gordon is an American racecar driver who currently competes in the NASCAR Sprint Cup Series as an owner-driver, driving the No. 7 Speed Energy Dodge Charger for Robby Gordon Motorsports, and also competes part-time in the Nationwide Series...
from 1997 to 2001. Prior to the RCR deal, Lowe's was the primary sponsor of the #11 Ford driven by Brett Bodine
Brett Bodine
Brett Bodine is a former NASCAR Winston Cup Series driver and is the current driver of the pace car in Sprint Cup events. Brett is the younger brother of 1986 Daytona 500 winner Geoff Bodine and the older brother of 2006 Craftsman Truck Series champion Todd Bodine...
for Junior Johnson And Associates
Junior Johnson
Robert Glenn Johnson, Jr. , better known as Junior Johnson, is a retired moonshiner in the rural South who became one of the early superstars of NASCAR in the 1950s and 1960s. He won 50 NASCAR races in his career before retiring in 1966...
, and later, Brett's own team, Brett Bodine Racing
Brett Bodine Racing
Brett Bodine Racing was a NASCAR racing team from 1996 until 2003. It was owned by former NASCAR driver Brett Bodine and his wife of 23 years Diane Bodine . The Bodines purchased the team Brett had driven for in 1995 following that season from Junior Johnson...
(after Bodine bought the #11 team from Johnson).
Lowe's also sponsors Fernandez Racing
Fernández Racing
Fernández Racing is a Mexican motor racing team that competes in the American Le Mans Series and previously Champ Car, the IRL IndyCar Series, and the Rolex Sports Car Series. The team was co-founded by Adrian Fernández and Tom Anderson in 2001.-Open wheel:...
in the American Le Mans Series
American Le Mans Series
The American Le Mans Series presented by Tequila Patrón is a sports car racing series based in the United States and Canada. It consists of a series of endurance and sprint races, and was created in the spirit of the 24 Hours of Le Mans. Teams compete in one of five classes: LMP1, LMP2 and LMPC...
and previously sponsored the team in the Rolex Sports Car Series
Rolex Sports Car Series
The Rolex Sports Car Series is the premier series run by the Grand American Road Racing Association. It is a North American-based sports car series that was founded in 2000 under the name Grand American Road Racing Championship to replace the failed United States Road Racing Championship...
; in that series, Lowe's sponsors the #99 Gainsco Stallings Racing Pontiac in events where Johnson is driving.
Canada
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
, Lowe's opened its first three stores in Canada on December 10, 2007, in Hamilton
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
, Brampton
Brampton
Brampton is the third-largest city in the Greater Toronto Area of Ontario, Canada.Brampton may also refer to:- Canada :* Brampton, a city in Ontario** Brampton GO Station, a station in the GO Transit network located in the city- United Kingdom :...
and Brantford. On February 1, 2008, they opened three more stores in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, East Gwillimbury
East Gwillimbury, Ontario
East Gwillimbury is a town on the East Holland River in the Regional Municipality of York. It is part of the Greater Toronto Area of south-central Ontario, in Canada. It was formed by the amalgamation of the Township of East Gwillimbury with all the previously incorporated villages and hamlets...
and a second store in Brampton as well as a new location in Maple (Vaughan). Currently, additional stores are under construction, with 19 now open in the province of Ontario. Lowe's also recently announced expansion into Western Canada, starting with three new stores in Calgary
Calgary
Calgary is a city in the Province of Alberta, Canada. It is located in the south of the province, in an area of foothills and prairie, approximately east of the front ranges of the Canadian Rockies...
, Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
. One of the three locations opened in late September 2010. The other two are projected to open in early 2011.
Each store represents an average investment of $20.5 million ($20.4 million USD).
Australia
Trading as Masters Home ImprovementMasters Home Improvement
Masters Home Improvement is the trading name of an Australian Home Improvement chain, operated by a joint venture between Australian Retailer Woolworths Limited and Mooresville, North Carolina based hardware chain, Lowe's...
, the first store opened in Braybrook, Victoria
Braybrook, Victoria
Braybrook is a suburb 9 km west of Melbourne, Victoria, Australia. Its Local Government Area is the City of Maribyrnong. At the 2006 Census, Braybrook had a population of 6940....
to tradesman
Tradesman
This article is about the skilled manual worker meaning of the term; for other uses see Tradesperson .A tradesman is a skilled manual worker in a particular trade or craft. Economically and socially, a tradesman's status is considered between a laborer and a professional, with a high degree of both...
on 31 August 2011, and the general public on 1 September 2011. Masters
Masters Home Improvement
Masters Home Improvement is the trading name of an Australian Home Improvement chain, operated by a joint venture between Australian Retailer Woolworths Limited and Mooresville, North Carolina based hardware chain, Lowe's...
is a joint venture of the Lowe's Companies Inc. and Woolworths Limited
Woolworths Limited
Woolworths Limited is a major Australian company with extensive retail interest throughout Australia and New Zealand. It is the:* largest retail company in Australia and New Zealand by market capitalisation and sales...
to compete against Wesfarmers' owned Bunnings Warehouse
Bunnings Warehouse
Bunnings Warehouse is Australia's largest hardware chain with stores in Australia and New Zealand. The chain is owned by Wesfarmers Limited.-History:-Pre 1900s:...
which operate in the large bigbox format similar to Lowe's and Home Depot.
The stores will be 1/3 owned by Lowe's Companies Inc.(USA) and 2/3 owned by Woolworths Limited (Australian Owned Public Company Listed on the Australian Securities Exchange (ASX)
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
.
Lowe's benefits, employment, and culture
Six company holidays are standard including New Year's DayNew Year's Day
New Year's Day is observed on January 1, the first day of the year on the modern Gregorian calendar as well as the Julian calendar used in ancient Rome...
, Memorial Day
Memorial Day
Memorial Day is a United States federal holiday observed on the last Monday of May. Formerly known as Decoration Day, it originated after the American Civil War to commemorate the fallen Union soldiers of the Civil War...
, Independence Day
Independence Day
An Independence Day is an annual event commemorating the anniversary of a nation's assumption of independent statehood, usually after ceasing to be a colony or part of another nation or state, and more rarely after the end of a military occupation...
, Labor Day
Labor Day
Labor Day is a United States federal holiday observed on the first Monday in September that celebrates the economic and social contributions of workers.-History:...
, Thanksgiving Day, and Christmas Day. All holidays except Thanksgiving and Christmas are working holidays, with full-time employees receiving eight hours of holiday pay which can now be banked and utilized, and part-time employees receiving four.
Full-time hourly employees are entitled to two weeks of vacation after one year of service, three weeks after five years of service, and four weeks after fifteen years of service, while salaried corporate employees with prior experience often receive two weeks of vacation immediately. Lowe's also offers a comprehensive service reward to long-term employees, such as additional vacation time and a series of gifts, ranging from a two-year pin to a thirty-year Rolex
Rolex
Rolex SA is a Swiss watchmaking manufacturer of high-quality, luxury wristwatches. Rolex watches are popularly regarded as status symbols and BusinessWeek magazine ranks Rolex No.71 on its 2007 annual list of the 100 most valuable global brands...
watch.
Lowe's offers health, vision, and dental plans for full-time employees. In addition, part-time employees are eligible for health benefits as well, although the part-time employees' health plan is more limited than those offered for full-time employees. Lowe's further offers a variety of other health-and-wellness benefits including optional pre-paid legal services and a program called LifeTrack, which offers programs and rewards to encourage healthy behavior in employees (including smoking cessation
Smoking cessation
Smoking cessation is the process of discontinuing the practice of inhaling a smoked substance. This article focuses exclusively on cessation of tobacco smoking; however, the methods described may apply to cessation of smoking other substances that can be difficult to stop using due to the...
and weight-loss programs and incentives).
Lowe's offers a 401(k)
401(k)
A 401 is a type of retirement savings account in the United States, which takes its name from subsection of the Internal Revenue Code . A contributor can begin to withdraw funds after reaching the age of 59 1/2 years...
plan for employees after six months of employment. Employees are given a wide selection of mutual funds to invest in, as well as company stock. In addition, Lowe's contributes a baseline match to all employees following 180 days of service. Employees can contribute up to 50% of their paycheck, and the company will fully match the first 3% and partially match up to 6% after the employee has been enrolled in the program for a full year. In addition to the 401(k) plan, employees may also elect to participate in a stock-purchase program in which employees contribute either a flat dollar amount or a percentage of their paycheck for a period of 6 months, after which the company purchases Lowe's stock for the employee at a discount equal to 15% off the price of the stock on the last day of the 6 month period.
Lowe's class actions
Lowe's was involved in a small cluster of class action lawsuits, that all revolve around Lowe's employee payment system. The cases focused on a pay practice known as "variable rate overtime". Variable rate overtime has the effect of paying a decreasing overtime rate the more hours a person works in a week. The suits alleged that salaried managers who worked between 40 and 50 hours per week, were improperly compensated for that time. The variable rate overtime ended in the first quarter of 2006.The first case was filed in October 2002 by employees of the Lowe's store in Shawnee, Kansas
Shawnee, Kansas
Shawnee is a city located in northwest Johnson County, Kansas, United States and is a western suburb of Kansas City, Missouri. As of the 2010 census, the city population was 62,209. Shawnee's fur trading and pioneering heritage blends histories of these Kansas Territory townships: Monticello and...
. In September 2005, the cases were certified as class action. Lowe's has four similar cases in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
and Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
. The lawsuits for New York, Indiana and Kansas resulted in an out-of-court settlement on September 22, 2006.
The lawsuit in Pennsylvania became a class-action lawsuit in June 2004, with 550 employees.
The case in Ohio was filed by ten former Lowe’s employees, in August 2004.