Established in 1921, Lowe’s has become the world’s renowned and trusted brand for home improvement products.
Headquartered in Mooresville, North Carolina, Lowe’s operates from 2,197 hardware and home improvement stores, extensively offering a series of home appliances and lifestyle products.
As reported by 2021, Lowe’s has documented a US$6.314 billion worth of active income from a vast chain of retail stores in the United States and Canada. Currently, the company employs over 300,000 workers and US $39.471 billion worth of acquisitions. Let’s have a look at the list of Lowe’s competitors.
The Home Depot
Since 1978, The Home Depot was designated as the best seller of authentic and superior grade home products in the United States.
Home Depot sells a wide margin of products through 70 distribution centers across the United States, from home appliances, supply tools, and construction products to services.
Presently, the company serves in roughly 2,312 locations – a result of the endless efforts of Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone.
Being a subsidiary company of Walmart Inc., Sam’s West, Inc. has also stepped the ladder of success in America and other major countries.
It’s a United States-based retail store having a chain membership in retail warehouse clubs. Introduced in 1983 by Sam Walton, the company currently delivers $57.839 billion worth of sales records each year, being the rival of Lowe’s.
It also stands in the 2nd position in sales volume amongst other warehouse club chains.
Another American big-box establishment chain is Target corporation, founded on June 24, 190. It’s a vintage company to beat Lowe’s in a vast margin of sales and profits established by Douglas Dayton, George Dayton, and John Geisse.
The company owns 1,931 stores worldwide, operating from Minnesota, U.S., and yearly, it makes around US$106 billion.
As of 2021, the company has recorded to possess US$51.248 billion worth of assets and ranked 32nd by total revenue on the Fortune 500 list of the largest U.S. corporations in 2020.
Another robust American retail company found in 1997 is the Costco corporation. Costco is a wholesale multinational company that owns gas stations, warehouse clubs, and more.
The company has spread its presence worldwide, counting in almost 828 locations, owning US$45.40 billion in assets as of 2019.
However, Costco currently employs nearly 273,000+ individuals and 105.5 million active members. Costco was reported to get 5th place as the largest retailer in the world in 2022.
The biggest American multinational retail corporation, Walmart, came into form in 1962. Founded by Sam Walton, Walmart was listed on the New York Stock Exchange in 1988.
It’s one of the leading corporations in the United States that majorly operates in global territories. Currently, with 2,300,000 active employees, Walmart successfully touched the ground of success by acquiring US$244.86 billion in assets.
By revenue, Walmart had become the largest in the market in 1989. It’s the strongest competitor of Lowe’s by every means.
Bed Bath & Beyond
From the best and most unique kitchen, home decor items, bathroom products, and beddings, there is no alternative to Bed Bath & Beyond. First commercialized in 1971, the company gradually became one of the famous luxury brands for home decor items.
Bed Bath & Beyond is an American multinational retail company for domestic commodities founded by Leonard Feinstein and Warren Eisenberg in New Jersey, U.S.A. It later got counted among the Forbes Global 2000 and the Fortune 500.
Currently, by operating from nearly 1,460 locations with the active support of 55,000 employees, the company touched the pinnacle of success.
Invented in 1982 in London, England, Kingfisher plc is now one of the leading brands for home improvement products worldwide. With over 1,300 stores in 9 mega countries, the company has employed over
80,000 individuals. This British multinational retailing company has been counted on London Stock Exchange too. However, Kingfisher has its regional offices in Romania, France, the U.K., and even Poland, with headquarters in London.
It’s one of the biggest competitors of Lowe’s, with over £12.34 billion worth of revenues each year.
Best Buy is an American multinational company. It specializes in consumer electronics in the United States.
The company is a leading competitor of Lowe’s. It has headquarters in Minnesota. Founded by James Wheeler and Richard M. Schulze, the company has gained its popularity through the robust audio system.
Currently, the company leads its operations in almost 1,144 locations, as documented in 2022. In 2004, Best Buy was listed in Forbes magazines as the Company of the year and America’s Most Generous Corporations in 2005.
Menards has always been the top priority in the American market for its extensive gamut of home improvement products.
Since 1960, this firm has successfully touched several milestones and now operates from almost 335 Stores And 12 Distribution Centers. The company is reported to generate US$ 11.8 billion in profit with the hard work and support of its 45,000 employees.
Headquartered in Eau Claire, Wisconsin, USA, Menards has its business spread in Kentucky, Michigan, South Dakota, West Virginia, and more.
Another retail company, Costco, competes with Lowe’s by a broad margin of sales and profits. It’s an American wholesale multinational company. It has operations in 828 locations worldwide.
This firm is the 5th largest retail company worldwide. The company also ranked in the 10th position on the list of Fortune 500 in 2021.
Costco offers the largest choice to the consumer to choose from. Thus, it has drawn 45.40 billion dollars to date. Currently, the company employs around 273,000 individuals worldwide.