Case 1 – Lowe’s
BUS 574-02 Strategic Management
Summer Term 2013
Table of Contents
RESEARCH AND ANALYSIS
CONCLUSION AND RECOMMENDATIONS
Lowe’s began in 1921 when Mr. L.S. Lowe opened the North Wilkesboro Hardware store in North Carolina. By 1956 Carl Buchan, son-in-law of Mr. Lowe, bought the Lowe’s share of the company. Carl Buchan kept the Lowe’s name because he liked their slogan “Lowe’s Low Prices,” which was consistent with his philosophy of offering low prices to customers. The company began expanding due to the post World War II building boom and by 1960 had 15 stores in 4 states. Carl Buchan suddenly died from a heart attack in 1960. Even though there was this tragic loss the company continued to grow and went public in 1960, began trading on the New York Stock Exchange by 1979, and eventually was renamed to Lowe’s Companies, Inc.
Until 1988, the Lowe’s outlets were about 20,000 square feet, but in 1989 they were overtaken by The Home Depot as the number one home retail chain, so they started focusing on building larger stores of about 100,000 square feet and phasing out the smaller stores. Lowe’s began its expansion into the western states in 1999 when it purchased Washington-based Eagle Hardware & Garden which owned 38 stores. Currently, Lowe’s has 1,755 stores in the United States, Canada and Mexico with additional stores in Australia. The company was ranked 54th on the 2012 Fortune 500 list, has been named Forbe’s Best Managed Companies in America, and rated one of the Top 100 Companies Offering Opportunities for Hispanics by Hispanics Magazine. Lowe’s Companies serves approximately 13 million customers each week and is committed to offering everyday low prices and a 10% low price guarantee.
Research and Analysis
Lowe’s vision statement is: “To be our...
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Lowe’s Corporate Website
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