Lowe’s Companies Inc. (LOW) is an American home retail company that offers customers a wide range of home improvement products, including items used for home decoration, repair, remodeling, property maintenance and installation. Lowe’s offers its products and services to both retail and wholesale customers. Lowe’s reported fourth quarter earnings in February 2021. The home retail company reported $ 978 million in net earnings compared to $ 509 million in the fourth quarter of 2019. Total sales for the fourth quarter were $ 20.3 thousand million compared to $ 16 billion in the fourth quarter of 2019.
Lowe’s saw its same-store sales rise 28.1% as consumers spent more on home projects during the pandemic. However, the company expects its sales to decline as people begin to return to offices and more people receive vaccinations and begin spending more time away from home.
The retailer has also undertaken restructuring initiatives to drive sales, such as redesigning its website, investing in its supply chain, upgrading its stores, and winning business from contractors and electricians.
Lowe’s is committed to the belief that a diverse portfolio of products best meets customer needs. Most of Lowe’s 7,000 suppliers are located in the United States, but the company also has suppliers in South Korea, Canada, China and Taiwan. These are the company’s four largest Lowe’s suppliers as of July 2021, based on valuation and according to CSI Market.
The year-over-year increase in net revenue from Lowe’s suppliers in the second quarter of 2021
Avery Dennison Corporation (AVY)
Avery Dennison (AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. Typical products include pressure sensitive materials for label and graphic applications; industrial, medical and retail tapes and bonding materials; and labels, tags and decorations for garments; and radio frequency identification (RFID) systems for retailers. The company also manufactures and sells a variety of consumer and converted products and other items that do not involve pressure-sensitive components, such as laptops, markers, clips, business forms, and reflective road safety products.
The company’s headquarters are located in Glendale, California. It employs more than 32,000 employees in more than 50 countries. The company reported 2020 sales of $ 7 billion and had a market capitalization of nearly 17.7 billion as of September 2021.
Illinois Tool Works Incorporated (ITW)
Illinois Tool Works Inc. (ITW) is a US Fortune 200 company, founded in 1912. It produces fasteners and engineering components, consumable equipment and systems, and specialty products. It primarily supplies Lowe’s with cleaning products, from garbage bags to brooms and laundry detergent.
Headquartered in Glenview, Ill., The company employs approximately 43,000 people in seven different business segments in 52 countries. It reported $ 12.6 billion in total revenue in 2020 and had a market capitalization of $ 67.55 billion as of September 2021.
Stanley Black & Decker Corporation (SWK)
Stanley Black & Decker (SWK) is engaged in supplying hand and power tools, and related accessories, products, services and equipment. Created in 2010, it represents the merger of two historic companies: Stanley Works (founded in 1843) and Black & Decker (founded in 1910). Since 2018, it has supplied Lowe’s with Craftsman tools, a line it bought from struggling retailer Sears.
Stanley Black & Decker, based in New Britain, Connecticut, has 53,000 employees. As of September 2021, it had a market capitalization of $ 29.5 billion and reported revenue of $ 14.5 billion in 2020.
Deere & Company (DE)
Deere & Company (DE) is the corporate name for John Deere, the venerable (founded 1837) manufacturer and distributor of agricultural, construction, forestry and lawn machinery, tools and equipment. (Although John Deere is the most famous, the company has 25 brands in total.) Deere supplies Lowe’s with a variety of lawn care products and parts. While Deere is considered one of those quintessential American companies, nearly half (47%) of its sales and revenues come from outside the US.
Deere is based in Moline, Ill; Its 69,000 employees operate in more than 70 countries around the world. It reported that net sales and revenue were $ 35.54 billion for 2020, and net revenue was $ 2.75 billion, the sixth best in company history. As of September 2021, it had a market capitalization of $ 110 billion.
Who owns Lowe’s?
Lowe’s was originally owned by its founder, LS Lowe, who opened his first store in 1921. His son Jim took over in 1940 and brought his brother-in-law, Carl Buchan, into the company. Buchan focused the business on home improvement and became a sole proprietor in 1952. Lowe’s went public in 1961.
What is Lowe’s Private Label?
Lowe’s has several private labels. They include Allen + Roth, Project Source, and Harbor Breeze. The latest to join the ranks is carpet maker Stainmaster, acquired in April 2021.
What’s the difference between Lowes and Home Depot?
As the world’s first and second-largest home improvement retailers, respectively, Home Depot (HD) and Lowe’s share many similarities. Both are big stores that appeal to DIYers and DIFMs alike. But Home Depot has a more industrial look and seems more geared toward home improvement professionals; Lowe’s seems more consumer-oriented, with colorful displays. Behind the scenes, Home Depot has a more decentralized supply chain model.