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8 mind-blowing facts about Lowe’s’ business (LOW)


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Lowe’s says it’s the world’s second largest home-improvement retailer by net sales.
Business Insider reviewed the company’s filings with the US Securities and Exchange Commission to get a better sense of its size.
From the size of its workforce to the number of its stores, here are several mind-blowing facts about Lowe’s.
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Lowe’s first arrived on the scene nearly 70 years ago in North Carolina, and since then it’s grown into a major contender in the world of home improvement.

To get a better sense of the company’s overall scale, Business Insider recently examined the company’s most recent annual filings with the US Securities and Exchange Commission.

Read more: How Lowe’s CEO Marvin Ellison went from making $4.35 an hour as a Target security guard to running the second biggest home-improvement retailer in the US

We were able to pick out some interesting numbers and stats from the financial filings that highlight the company’s size. Here are a few stats that provide a clearer glimpse at just how large Lowe’s truly is:

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Lowe’s first launched in 1952 and went public nine years later.

Source: Lowe’s

Lowe’s boasts 2,015 stores in total …

Source: Lowe’s

… with 1,723 stores across the United States, 279 Canadian locations, and 13 soon-to-be closed stores in Mexico, as of February 1, 2019.

Those stores take up a total of 209 million square feet of space, altogether.

And Lowe’s says that its US-based stores “average approximately 112,000 square feet of retail selling space,” with an additional “32,000 square feet of outdoor garden center selling space.”

Source: Lowe’s

Most Lowe’s contain up to 34,000 different products.

Source: Lowe’s

As of February 2019, Lowe’s boasted a workforce of “190,000 full-time and 110,000 part-time employees.”

Source: Lowe’s

Lowe’s and its namesake foundation have pledged to invest $350 million in different communities by 2025.

Source: Lowe’s

…read more

Source:: Business Insider

      

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