AllBestEssays.com - All Best Essays, Term Papers and Book Report
Search

Lowe's Fortune 500 Company

Essay by   •  January 9, 2012  •  Research Paper  •  835 Words (4 Pages)  •  1,687 Views

Essay Preview: Lowe's Fortune 500 Company

Report this essay
Page 1 of 4

Lowes is a nationwide hardware store known to many as one of the world's most evolved hardware stores that carry hardware supplies, appliances and building materials since 1961. They make it possible to do it yourself or have Lowes do it for you. Lowes is not just a business that earns a profit, but one that strives to help the economy with their low prices, and a strong desire for business environment which ultimately affects the business and economy helping to support good causes throughout the country and working towards a worldwide goal.

Lowes is a home improvement retailer who offers products and services for home decorating, maintenance, repair and remodeling of commercial buildings employing 239,000 people for which 73,000 are part-time employees as of January 29, 2010 (Lowes, 2011). Its revenues have fluctuated each year based on the economic differences. For instance, the company had a decline in revenues in 2010 from 2009; however based upon the economy will change. Despite the fluctuation of revenues, they continue to make a very good profit on a yearly basis.

Lowes procures its merchandise from approximately 7,000 domestic and foreign suppliers. Because they choose not to use manufacturing companies to do their buying, any failure on the part of vendor and manufacturer to achieve and maintain high manufacturing standards could result in manufacturing errors resulting in product recalls or withdrawals, delays or interruptions of production, cost overruns or other problems that could seriously harm the company's business (Lowes, 2011). Also, as it sources many of its products directly from foreign manufacturers it is exposed to the risks related to political or financial instability among suppliers, trade restrictions, tariffs, currency exchange rates and transport capacity and costs (Lowes, 2011).

According to Forbes (forbes.com, 2011), Lowes has become one of the most successful businesses, being placed at number thirty-five as one of the Fortune 500 companies of 2011. With recorded revenue of $47,220 by the end of 2010, Lowes has proven their success and desire to continue to exceed in the businesses world (Lowes Company, Inc. 2011). They base their success on their commitment to its employees and customers, low prices to help with the uprising costs of the economy.

Lowes has continued to open new buildings across North America, with 1,750 locations thus far. They believe in supporting the neighborhoods they serve and those where customers and employees live, through a variety of community involvement initiatives which include Lowes Charitable and Educational Foundation, Lowe's Toolbox for Education, Habitat for Humanity, American Red Cross, Home Safety Council, Lowe's Heroes, Skills USA, Rebuilding Together, National Trust for Historic Preservation, The Nature Conservancy, and scholarships offered directly from Lowe's Companies (Lowes, 2011).

By offering the community

...

...

Download as:   txt (5.3 Kb)   pdf (84.5 Kb)   docx (10.8 Kb)  
Continue for 3 more pages »
Only available on AllBestEssays.com
Citation Generator

(2012, 01). Lowe's Fortune 500 Company. AllBestEssays.com. Retrieved 01, 2012, from https://www.allbestessays.com/essay/Lowe's-Fortune-500-Company/17788.html

"Lowe's Fortune 500 Company" AllBestEssays.com. 01 2012. 2012. 01 2012 <https://www.allbestessays.com/essay/Lowe's-Fortune-500-Company/17788.html>.

"Lowe's Fortune 500 Company." AllBestEssays.com. AllBestEssays.com, 01 2012. Web. 01 2012. <https://www.allbestessays.com/essay/Lowe's-Fortune-500-Company/17788.html>.

"Lowe's Fortune 500 Company." AllBestEssays.com. 01, 2012. Accessed 01, 2012. https://www.allbestessays.com/essay/Lowe's-Fortune-500-Company/17788.html.