Lowe's

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Headquarters: 1000 Lowe's Blvd. Mooresville, NC 28115 Employees: 210,000 CEO: Robert Niblock Stock Symbol: LOW Website: http://www.lowes.com Company News Career Site Lowe's is the nation's second-largest chain of home-improvement stores. Founded in 1946 in Mooresville, NC, Lowe's serves 14 million customers a week at more than 1,649 home improvement stores in the U.S. and Canada. Lowe's sells everything from lighting fixtures to hardware, appliances and garden supplies. The company opened 33 new stores in the fourth quarter. The company expects to open 60-70 stores in 2009. In 2008, the company reported record revenues of $48.2 billion, down 0.1%, and net income of $2.8 billion. It expects sales to decline 4-8% this year due to the poor economy. The company's main units are Stores, Distribution Centers and Corporate. Approximately 92% of Lowe's employees are located in Stores, 6% are at Distribution Centers and 2% are at Corporate locations. About 75% of all jobs are full-time positions. Benefits Lowe's 401(k) Plan Eligibility: All employees after 90 days of continuous service. Baseline Match Eligibility: All employees after one year of service. After one year of service the company matches the first 1% you save each pay period at 100%. Savings above 1%, up to 6% of compensation, will be matched at 25%. Immediate vesting. Vacation Eligibility: All regular full-time and regular part-time employees after one year of employment. You become eligible for vacation based on service as follows: Full-time: After 1 year of service: 2 weeks After 5 years of service: 3 weeks After 15 years of service: 4 weeks Part-time: After 1 year of service: 40 hours After 5 years of service: 60 hours After 15 years of service: 80 hours Holidays Eligibility: All regular full-time salaried employees, first day of employment All regular full-time hourly and part-time employees, after 90 days of employment Lowe's generally provides the following six paid holidays: New Year's Day Memorial Day Fourth of July Labor Day Thanksgiving Day Christmas Day Full-time employees will receive eight hours holiday pay and part-time employees will receive four hours holiday pay for each scheduled holiday. Hourly employees who are required to work on a holiday will receive holiday pay plus regular pay for the holiday; salaried employees who work on a holiday will be given another day off with pay. Basic Sick Pay Eligibility: All regular full-time employees after 89 days of continuous employment. Sick days are accrued at a rate of six days (48 hours) per year. Unused sick days may be carried forward with no limit on days accumulated. Employee Purchase of Company Products Eligibility: All employees (full-time, part-time, and temporary) first day of employment Employees may purchase company products at a 10% discount. Purchases must be for the use of the employees, their dependents, or as bona fide gifts. Updated February 21, 2009