Who Came First Home Depot or Lowes: Who came first Home Depot or Lowes in the United States and Canada as a retail company that specializes in home improvement and hardware chain stores.
Who Came First Home Depot or Lowes?
The question “Home Depot or Lowe’s? can elicit heated debate among handy homeowners.
However, for the past five years, the answer for buyers has been “Both!” Since the beginning of 2011, Lowe’s stock has roughly tripled and Home Depot’s stock has nearly quadrupled, outperforming the broader retail sector and the S&P 500.
As customers prepare for this spring’s peak sprucing-and-renovation season, it’s a good time to ask: Can either stock continue its run?
Both companies have recently made acquisitions that reflect their growth strategies: Home Depot bought Interline Brands, which sells repair products to property managers, and Lowe’s, based in North Carolina, absorbed Canadian hardware chain Rona.
With roughly 50% more revenue and 212 times the market cap, Home Depot remains by far the bigger brother. In terms of estimated 2017 earnings, its stock is also about 12% more expensive than Lowe’s.
The size and price both reflect competitive advantages. Most notably, Home Depot has a larger footprint in urban areas and densely populated suburbs than Lowe’s.
Home Depot or Lowe’s Who Was Establish First
Lowe’s was founded in 1921, and Home Depot was founded in 1978. However, the newer store was the first to expand.
The Home Depot was co-founded by Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone in 1978 while the first Lowe’s store, North Wilkesboro Hardware, opened in North Wilkesboro, North Carolina, in 1921 by Lucius Smith Lowe.
After Lowe died in 1940, the business was inherited by his daughter, Ruth Buchan, who sold the company to her brother, James Lowe, that same year. James took on his brother-in-law Carl Buchan as a partner in 1943
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Basically, because Home Depot expanded its store presence before Lowe’s, it was given first right of refusal on location.
Lowe’s has many “secondary real-estate locations” that aren’t ideal in terms of population flow or traffic patterns, Lowe’s expansion in terms of new store openings followed Home Depot’s.
In 1952, Buchan became the sole owner of Lowe’s, and the company was incorporated as Lowe’s North Wilkesboro Hardware.
Lowe’s has since grown nationally, operating more than 2,355 locations in the United States, Canada, and Mexico.
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