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Lowe's

Lowe's Home Improvement Warehouse (NYSE: LOW) is a US-based chain of retail home improvement and appliance stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now operates over 1,300 stores in 49 states. Vermont is the only state without a Lowe's store and with the exception of Wyoming, each of the other 48 states is home to multiple stores. (Wyoming is also home to a Lowe's distribution center).

Beginning in 2007 Lowe's will start to operate in Canada with up to 10 stores opening up in Ontario. In 2009 Lowe's will start to operate in Mexico opening between 3 and 5 stores in Monterrey. Lowe's Companies, Inc. is 45 on the Fortune 500 list. The chain is now based in Mooresville, North Carolina, about 30 minutes north of downtown Charlotte. It is currently the second-largest hardware chain in the United States of America.

Lowe's began as a single neighborhood hardware store in North Wilkesboro, North Carolina in 1946. Through growth and expansion, and later with the addition and rebranding of Eagle Hardware stores, Lowe's has grown to be the 2nd largest home improvement store after Home Depot.

Lowe's is organized geographically into Divisions (such as Southeast, West, Northeast), Regions (usually designated with a two-digit number), Areas, Districts and then the individual store. A Lowe's store can have anywhere from 80 to over 200 employees depending on the size and sales volume. Lowe's is a Big-box store, that is, a retail warehouse environment, its primary competition is from Home Depot.

Lowe's Canadian unit will start up operations in Ontario with up to 10 stores by the end of 2007 and will be based in Ontario, headquarters of Home Depot Canada. The initial stores are projected to open in the second half of 2007, each creating up to 175 jobs. Each store represents an average investment of $20.5 million ($18.5 million USD).

A news release on Lowe's website stated that "we’re breaking ground on our first location in Hamilton, have identified additional locations in Brantford, South Brampton and Toronto (Scarborough, Ontario) and have another nine locations approved through our real estate committee process...”"Lowe's Updates Canadian Expansion Plans

Lowe's Mexican unit will start up operations in Monterrey opening between 3 and 5 stores in 2009, and will be based in Monterrey. The new operations will create up to 800 jobs, each store representing an investment of $18 million USD and $20 million USD.

Lowe's offers comprehensive benefits to its employees including 401k, medical, and disability benefits. Many corporate employees express misgivings with the limited amount of company holidays, expensive medical coverage, and limited continuing educational benefits. These policies are typical of retail companies trying to minimize overhead expenses. Lowe's does have a 401k plan with company matching contributions increasing with greater seniority, although in 2007 the "performance match" aspect of the plan was discontinued.

Source: Wikipedia - News Reports

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