Lowe's: a Structural Analysis
Lowe’s: A Structural Analysis Lowe’s was originally started in 1921 by Lucius S. Lowe in the town of North Wilkesboro, North Carolina and was called Lowe’s North Wilkesboro Hardware Store. The first version of Lowe’s had a different product mix that also included notions, dry goods, horse tack, snuff, produce, and groceries. This was when it was run by Lucius S. Lowe. The business was inherited by his daughter, Ruth, when Lucius died in 1940. She in turn sold the company to her brother James Lowe. In that same year that Jim bought the store him and Ruth’s husband Carl Buchan served in World War II, during the war Ruth and her mother ran the store. After Carl was injured and honorably discharged in 1943 Jim took him on as a partner.
Lowe’s was founded in 1946; Lowe’s has grown from a small hardware store to the second-largest home improvement retailer worldwide. This is when Carl Buchan took management over and the store started to focus primarily on hardware and building materials. Carl Buchan later bought-out his brother-in-law and partner, James Lowe, and foreseeing the post-World War II building boom. By eliminating wholesalers and dealing directly with manufacturers, Lowe’s established a lasting reputation for low prices. Sales began to grow over time and additional Lowe’s stores opened in neighboring towns throughout western North Carolina. 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.
In 1979, Lowe’s began trading on the New York Stock Exchange (NYSE:LOW). During this time, U.S. housing starts soared and professional builders became Lowe’s loyal customers, accounting for the majority of Lowe’s business. In 1982, Lowe’s had its first billion-dollar sales year, earning a record profit of $25 million. Lowe’s stores then reported serving a new type of
Lowe’s was founded in 1946; Lowe’s has grown from a small hardware store to the second-largest home improvement retailer worldwide. This is when Carl Buchan took management over and the store started to focus primarily on hardware and building materials. Carl Buchan later bought-out his brother-in-law and partner, James Lowe, and foreseeing the post-World War II building boom. By eliminating wholesalers and dealing directly with manufacturers, Lowe’s established a lasting reputation for low prices. Sales began to grow over time and additional Lowe’s stores opened in neighboring towns throughout western North Carolina. 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.
In 1979, Lowe’s began trading on the New York Stock Exchange (NYSE:LOW). During this time, U.S. housing starts soared and professional builders became Lowe’s loyal customers, accounting for the majority of Lowe’s business. In 1982, Lowe’s had its first billion-dollar sales year, earning a record profit of $25 million. Lowe’s stores then reported serving a new type of
Cited: Page Lowe 's, . "company overview." n. page. Web. 23 Jul. 2012. <http://media.lowes.com/company overview/>. Lowe 's, . "Our Heritage." n. page. Web. 23 Jul. 2012. <http://media.lowes.com/history/>. "Lowe 's." Wikipedia, 2012. Web. 23 Jul 2012. <http://en.wikipedia.org/wiki/Lowe 's>. Lowe 's, . "LOWE’S ANNOUNCES FIRST STORE IN SASKATCHEWAN." n. page. Web. 23 Jul. 2012. <http://media.lowes.com/article_display.cfm?article_id=2959>. "Home Depot Structure Analysis." 123HelpMe.com. 23 Jul 2012 <http://www.123HelpMe.com/view.asp?id=165419>.