Lowe's

Second largest chain of home-improvement stores.

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Headquarters: 1000 Lowe's Blvd.
Mooresville, NC 28117
Employees: 310,000
CEO: Marvin Ellison
Stock Symbol: LOW

Website: http://www.lowes.com

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Lowe's is the nation's second-largest chain of home-improvement stores serving both retail and professional customers.

Founded in 1946 in Mooresville, NC, Lowe's operates 1,974 home improvement and hardware stores in the United States and Canada representing 208 million square feet of retail selling space, and it serviced approximately 230 dealer-owned stores.

Lowe's sells everything from lighting fixtures to hardware, appliances and garden supplies. Each store averages 112,000 square feet and stocks 37,000 products and more than 500,000 products are available by special order.

Lowe's offers more than 50 interior and exterior installation services, such as appliances, flooring and blinds; and extended protection plans, repair services, and credit financing.

In 2020, Lowe's reported revenues of $89.5 billion and net earnings were $5.83 billion. Comparable sales in the fourth quarter increased 28.6% with the pandemic forcing people to spend more time at home and improving their living spaces.

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.

The company closed all 99 Orchard Supply hardware stores in California, Oregon and Florida at the end of 2018.

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 December 20, 2021