People visit Lowe’s when they need various supplies for home improvement. Starting from a small hardware store, Lowe’s now become one of the biggest home improvement stores in the world.
Lowe’s started its history on March 25, 1921, when Lucius Smith Love opened a general store that sells hardware and building materials, also sewing notions, horse tack, dry goods, groceries, and snuff products.
The business kept growing and in 1958, Lowe’s started to change its focus from DIY customer to pro. In 2002, this company entered the list of Fortune 100 for the first time, thanks to its success in making 22 billion dollars of revenue at that time. In 2021, Lowe’s finally successfully reached 100 years of service to its customers.
Quick Info:
| Founder | I. S. Lowe |
| Founded | March 25, 1921 |
| CEO | Marvin R. Ellison |
| Headquarters | 1000 Lowes Blvd., Mooresville, NC 28117, United States |
| Area Served | United States, Canada |
| Social Media | Twitter.com/lowes Facebook.com/lowes Instagram.com/loweshomeimprovement |
| Website | www.lowes.com |
Lowe’s Slogan and Taglines
Lowe’s has numerous slogans and taglines, such as:
- Never Stop Improving (2011)
- Do it right for less. Start at Lowe’s (2019-present)
Lowe’s Logo
Lowe’s Business Segment
Lowe’s mainly focuses on providing three types of business segments, which are:
Product Segment
This segment contributes to the total revenue as the most earnings that this company receives. In this segment, Lowe’s offers various categories of the product, such as kitchen appliances, flooring, lawn and garden, building materials, etc. The product segment also targets two groups of customers, which is professional and individual or DIY project customer.
Service Segment
Service segments include various installation services, and shopping services, such as stored-value cards, insurance, gift cards, etc. This segment keeps growing and developing thanks to the support of the implementation of the latest technology.
Other Segments
Other than the first two segments, Lowe’s Company also provides insurance for various purposes, mainly for the customer shopping experience. The insurance covers the products and extended protection plans. This company also receives revenue from its official website.
Revenue
Lowe’s Company earned total revenue of 95.487 billion dollars in 2021. This number is higher than the previous year’s revenue by 1.21%.
Due to the pandemic situation becoming much better, experts predict that the revenue for 2022 will increase, even though at the end of the first quarter of 2022, Lowe’s only could earn 23.695 billion dollars, which is 3.12% lower compared to year-over-year revenue of the previous year.
