Key Stats
Lowe’s Companies, Inc. operates as the second-largest home improvement retailer in the United States.
The company generated $83.67 billion in revenue during fiscal year 2024.
Lowe’s employs approximately 300,000 associates across its operations.
The company operates more than 1,700 stores throughout the United States.
Lowe’s holds a market capitalization of approximately $138 billion as of December 2025.
Lowe’s Companies, Inc. stands as a Fortune 50 home improvement company headquartered in Mooresville, North Carolina. The retailer serves approximately 16 million customer transactions weekly across the United States.
The company offers products for construction, maintenance, repair, remodeling, and decorating. Lowe’s provides installation services through independent contractors and extends protection plans alongside repair services.
Lowe’s sells national brand-name merchandise and private brand products to professional customers, individual homeowners, and renters. The company also operates e-commerce platforms including Lowes.com and LowesForPros.com to serve customers online.
Lowe’s Companies History
The origins of Lowe’s trace back more than a century to a small hardware store in North Carolina. The company evolved from a single storefront into one of the largest retailers in the world through strategic expansion and acquisitions.
In 1921, Lucius Smith Lowe opened North Wilkesboro Hardware in North Wilkesboro, North Carolina. The store initially sold hardware, dry goods, horse tack, and farming supplies to the local community.
After the founder’s death in 1940, his son James Lowe inherited the business. James brought his brother-in-law Carl Buchan into the company as a partner in 1943. Buchan recognized the potential for growth in the construction industry following World War II.
Under Carl Buchan’s leadership, the company focused exclusively on hardware and building materials. The business dropped notions, dry goods, and groceries to concentrate on home improvement products. Buchan became sole owner in 1952 and expanded the store count across North Carolina.
The company went public in 1961 following Buchan’s death in 1960. By 1962, Lowe’s operated 21 stores generating $32 million in annual revenue. The retailer began trading on the New York Stock Exchange in 1979 as expansion accelerated throughout the southeastern United States.
Lowe’s Companies Co-founders
Lucius Smith Lowe
Founded North Wilkesboro Hardware in 1921. A farmer and former rural mail carrier, Lowe established the small-town hardware store that would grow into a national retail chain.
James Lowe
Took ownership of the company in 1940 after his father’s death. James brought Carl Buchan into the business and helped transition the store toward building materials and hardware.
Carl Buchan
Joined as partner in 1943 and became sole owner in 1952. Buchan transformed Lowe’s into a focused home improvement retailer and led rapid expansion before his death in 1960.
Lowe’s Companies Revenue
Lowe’s Companies generated $83.67 billion in revenue during fiscal year 2024, representing a decline from the peak of $97 billion achieved in 2022.
The company experienced significant growth during the COVID-19 pandemic as homeowners invested in home improvement projects. Revenue increased from $72 billion in 2019 to nearly $97 billion by 2022.
Lowe’s Companies Marketcap
Lowe’s Companies holds a market capitalization of approximately $138 billion as of December 2025. The company’s stock trades on the New York Stock Exchange under the ticker symbol LOW.
The market cap reached an all-time high of approximately $170 billion in late 2021 during the home improvement boom. Share prices fluctuated with broader market conditions before stabilizing in 2024.
Lowe’s Companies Acquisitions
Lowe’s pursued strategic acquisitions to expand market share and enhance capabilities throughout its history. The company focused on geographic expansion and professional customer services through targeted purchases.
In 1999, Lowe’s acquired Eagle Hardware and Garden for approximately $1.34 billion. The deal added 47 stores in the Pacific Northwest and accelerated expansion into western markets. This acquisition marked a turning point in the company’s national growth strategy.
The acquisition of RONA in 2016 for $3.2 billion CAD established Lowe’s as the largest home improvement retailer in Canada. The deal added over 500 stores under multiple retail banners including RONA, Reno-Depot, and Dick’s Lumber. However, Lowe’s sold the Canadian operations to Sycamore Partners for $400 million in 2023 to focus on the U.S. market.
Lowe’s acquired Maintenance Supply Headquarters for $512 million in 2015 to strengthen capabilities serving multifamily housing professionals. The STAINMASTER brand acquisition in 2021 expanded the company’s flooring and home decor offerings.
Recent acquisitions reflect a strategy to serve large professional contractors. Lowe’s purchased Artisan Design Group for $1.325 billion in June 2025, adding design, distribution, and installation services for interior finishes. The Foundation Building Materials acquisition for $8.8 billion in October 2025 added 370 locations distributing drywall, ceiling systems, and metal framing products.
Lowe’s Companies Competitors
Lowe’s operates in the competitive home improvement retail market alongside several major retailers. The Home Depot remains the primary competitor with approximately $153 billion in annual revenue.
Competition extends beyond traditional home improvement stores to include general retailers and e-commerce platforms. Walmart, Costco, and Amazon compete for customers seeking home improvement products through their extensive retail networks.
| Company | Headquarters | Primary Focus | Est. Revenue |
|---|---|---|---|
| The Home Depot | Atlanta, Georgia | Home Improvement | $153B |
| Menards | Eau Claire, Wisconsin | Home Improvement | $13.4B |
| Ace Hardware | Oak Brook, Illinois | Hardware Cooperative | $9.0B |
| 84 Lumber | Eighty Four, Pennsylvania | Building Materials | $8.8B |
| Harbor Freight | Calabasas, California | Tools and Equipment | $7.0B |
| True Value | Chicago, Illinois | Hardware Cooperative | $4.8B |
| Tractor Supply | Brentwood, Tennessee | Rural Lifestyle | $14.6B |
| Floor and Decor | Atlanta, Georgia | Flooring Specialty | $4.4B |
| Build-A-Sign | Austin, Texas | Custom Products | $0.5B |
| Builders FirstSource | Dallas, Texas | Building Materials | $16.5B |
FAQs
When was Lowe’s Companies founded?
Lowe’s was founded in 1921 when Lucius Smith Lowe opened North Wilkesboro Hardware in North Wilkesboro, North Carolina. The company renamed to Lowe’s Hardware in 1946.
Who owns Lowe’s Companies today?
Lowe’s Companies is a publicly traded corporation on the New York Stock Exchange under ticker symbol LOW. Institutional investors and individual shareholders own the company with no single controlling owner.
How many stores does Lowe’s operate?
Lowe’s operates more than 1,700 home improvement stores throughout the United States. The stores average approximately 112,000 square feet of retail selling space each.
What is Lowe’s annual revenue?
Lowe’s Companies generated $83.67 billion in revenue during fiscal year 2024. The company reached peak revenue of $97 billion in 2022 during the home improvement boom.
Who is the CEO of Lowe’s Companies?
Marvin R. Ellison serves as Chairman, President, and CEO of Lowe’s Companies. Ellison joined the company in 2018 after previously serving as CEO of J.C. Penney and executive roles at The Home Depot.
