What Is Lowe’s? (What Is It Known For, How Is It Different, Type Of Store + More)

When searching for home improvement stores in the US, you may come across Lowe’s. Lowe’s is a popular retailer in the US, a favorite among many DIY-ers and professionals alike.

I’ve done some research on Lowes so that you can find out everything you need to know about the retailer. Take a look below to find out more about Lowe’s!

What Is Lowe’s In 2022?

Lowe’s is a home improvements retailer based in the US as of 2022. Founded in 1921, the retailer is currently based in North Carolina and is a popular home improvements retailer across the US. With close to 2,000 stores operating across the US and Canada, you’re likely to find a Lowe’s close to you.

Now that you know that Lowe’s is a US-based home improvements retailer, read on to find out what Lowes is known for, the kind of services Lowe’s provides, and whether it’s considered a good company.

What Is Lowe’s Known For?

Lowe’s is known for its budget-friendly home improvements products, appliances, and other do-it-yourself tools.

Further, operating across the entire US and Canada, it’s somewhat of a haven for DIY-ers.

What Does Lowe’s Do?

Lowe’s is a home improvement retailer that offers a vast range of products, from its store-brand collections and other well-known brands to consumers for value prices.

Also, the retailer offers several in-house services, such as installation services and tool rental.

What Services Does Lowe’s Provide?

Lowe’s provides a range of services and its regular retail services, including:

  • Appliance installation (kitchen appliances, sink and faucet appliances, AC units, and toilets)
  • Floor installation (tiling, carpet, and laminate)
  • Door installation (garage doors and shower doors)
  • Fencing
  • Roofing
  • Decking installation
  • Lighting installation
  • Tool rental
  • Delivery and haul away services

Is Lowe’s A Good Company?

According to anecdotal accounts from current and ex-employees, Lowe’s is generally considered a good company to work for.

That said, Lowe’s offers a range of benefits, including:

  • Health plans
  • Dental plans
  • Vision plans
  • Store discounts
  • Ad life insurance (both full and part-time employees)

Also, Lowe’s publishes corporate responsibility reports each year that detail how it’s helping its local communities and promoting a more environmentally-friendly business approach.

Is Lowe’s A Walmart Company?

No, Lowe’s is not a Walmart company. That said, Lowe’s doesn’t have a majority shareholder as a publicly-traded company, and Walmart has no shares in Lowe’s.

So, Lowe’s is not owned or operated in any way by Walmart.

How Many Stores Does Lowe’s Have?

As of 2020, Lowe’s had almost 2,000 stores operating worldwide.

However, several Lowe’s stores closed in 2018 due to lower performance standards than others, taking the number of Lowe’s stores to below 2,000.

In addition, Lowe’s ceased operating in Mexico in 2019, closing its 13 stores there due to low profits at these stores.

What Kind Of Products Does Lowe’s Sell?

What Kind Of Products Does Lowe's Sell?

Though a home improvements retailer first, Lowe’s sells a wide variety of products covering everything from pet care and workwear to furniture and air conditioners to food and drinks and boating products.

So, its product range is vast, meaning you can find almost anything for your home in Lowe’s stores and online at lowes.com.

For the best value, check out the many blogs on which products you should purchase from Lowe’s and which you should skip.

How Many Products Does Lowe’s Sell?

In each Lowe’s store, it is estimated that there are around 35,000 products available, covering a range of different departments and brands.

In addition, Lowe’s offers even more products online at Lowes.com and through its Special Order Sales system.

Is Lowe’s Cheap Or Expensive?

Generally, Lowe’s is considered a good value retailer.

That said, most information on Lowe’s prices compares the retailer to Home Depot.

As its biggest rival, Lowe’s is in constant competition to keep costs lower than Home Depot’s to ensure customer retention.

Overall, it appears Lowe’s and Home Depot have similar pricing.

Is Lowe’s An American Company?

Yes, Lowe’s was founded as a small hardware store in North Carolina in 1921. Therefore, Lowe’s is a US-based company headquartered in North Carolina.

Further, Lowe’s became a publicly-traded company in 1961.

What Is The Lowe’s Mission Statement?

Lowe’s mission statement is, “Together, deliver the right improvement products, with the best service and value, across every channel and community we serve.”

What Is The Lowe’s Motto?

Lowe’s changed its motto in 2019 to “Do it right for less. Start with Lowe’s.” With that, the new motto is thought to resemble the Home Depot motto.

Further, the change was part of evolving marketing strategy and a call-to-action for customers.

What Is Lowe’s Revenue?

Lowe’s annual revenue for 2020 was $72.148 billion, a 1.18% increase from 2019.

Also, total sales for the second quarter of 2021 for the retailer reached $27.6 billion, an increase on the second quarter of 2020 total sales.

If you want to learn more, you can also read our related posts on Lowe’s statistics & facts, the biggest Lowe’s store, and what is Code 3 at Lowe’s.

Conclusion

Lowe’s is a major retailer of home improvement goods founded in 1921 based in the US with headquarters in North Carolina.

That said, Lowe’s is an American, publicly-traded company with no majority shareholders.

Further, the company has almost 2,000 stores across the US and Canada but ceased operations in Mexico in 2019.

Additionally, Lowe’s offers a variety of products, including home improvement goods, appliances, garden furniture, pet care, workwear, and many more.

On top of that, Lowe’s offers products through its stores, online at lowes.com, and through its Special Order Sales system.

Moreover, the store is generally considered to offer value prices and regularly offers similar prices to its main competitor, Home Depot.

Finally, Lowe’s is considered a good company and offers full and part-time workers good employee benefits.

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Marques Thomas

Marques Thomas graduated with a MBA in 2011. Since then, Marques has worked in the retail and consumer service industry as a manager, advisor, and marketer. Marques is also the head writer and founder of QuerySprout.com.

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