Two of the most well-known home improvement stores in the US are Home Depot and Lowes. Home Depot offers a wide selection of products, from tools to appliances, while Lowe's focuses more on providing services such as installation and repair.
Only Lowe's carries in-house brands like Stainmaster carpet, allen + roth home decor and Project Source kitchen cabinets. The Home Depot, on the other hand, is known for its proprietary brands, including Behr Paint, ChemDry carpet stain removers and Ryobi tools — it also has a top-notch home decor department.
Together, they have an estimated 45% market share in the industry. As you can see from the chart below, both stocks have performed well over the last 10 years, though Lowe's has slightly outperformed Home Depot. If you're looking to invest in the sector, you're likely choosing between these two stocks.
However, Home Depot's larger scale, strong brand reputation, and efficient operations continue to give it a competitive edge. As the industry evolves, both retailers will need to adapt to changing consumer preferences and technological advancements to maintain their market positions.
By building their stores together they force the buying public to come to their area for hardware, and between the two superstores they pretty effectively cut Ace Hardware, True Value Hardware, and other smaller competitors out of the marketplace.
The Right Products At The Right Price. Lowe's strives to provide customers with everything you need to get the job done – from home maintenance and repairs to remodeling and decorating. We have an extensive selection of products from national brands, as well as private brands shoppers can only find at Lowe's.
Two of the most well-known home improvement stores in the US are Home Depot and Lowes. Home Depot offers a wide selection of products, from tools to appliances, while Lowe's focuses more on providing services such as installation and repair.
(/loʊz/ LOHZ) is an American retail company specializing in home improvement. Headquartered in Mooresville, North Carolina, the company operates a chain of retail stores in the United States. As of Oct. 28, 2022, Lowe's and its related businesses operated 2,181 home improvement and hardware stores in North America.
As the world's first and second-largest home improvement retailers, Home Depot and Lowe's share many similarities. They compete for a shared customer base across the U.S. and Canada. Both companies are committed to allowing customers to move seamlessly between online and offline channels.
Lowe's Home Improvement is most highly rated for Compensation and benefits and The Home Depot is most highly rated for Culture. Learn more, read reviews and see open jobs.
Some of the highest wages a worker can make at Lowe'S are in the job titles Product Manager ($121,866), and title Sales Specialist ($78,155) which are the highest paying jobs at Lowe'S.
More sales from less space equals operating leverage. The improved customer service for DIY customers and pros contributed to increasing Lowe's sales per location, and that's a big reason its operating margin is catching up to Home Depot's.
In 2023, the DIY chain 'Home Depot' had a total of 2,335 stores worldwide. Meanwhile, Lowe's registered 1,978 stores at the end of the same period.
Lowes was founded in 1946, The Home Depot in 1978. Despite that 32 year head start, Lowes has consistently lost ground to The Home Depot for several years, now running a distant second nationally in the big box hardware category.
Flooring, framing, drywalling, painting, removals and replacements of all materials – our basement renovators will remodel your basement any way you want. Whether it's finishing an entire basement or you just want a few upgrades to your existing finished basement, our basement contractors can help.
Lowe's is looking to simplify. The home improvement retailer earlier this month disclosed that it has entered into a definitive agreement to sell its Canadian operations to the private equity firm Sycamore Partners for $400 million in cash and future performance-based considerations.
In 2023, indoor garden sales held the largest share of The Home Depot's net sales, at a 9.7 percent share. Appliances also accounted for a significant share of the net sales, at over nine percent.
In 2023, Home Depot's annual sales amounted to over 152 billion U.S. dollars, whereas its main competitor, Lowe's, reached more than 86 billion U.S. dollars of sales.
The chain is privately owned by founder John Menard Jr.
Weaknesses. Operational Efficiency Challenges: Despite its financial success, Lowe's must continuously address operational efficiency within its vast network of stores. The company faces the ongoing task of optimizing inventory management and supply chain processes to meet customer demand promptly.
Among Lowe's 15 product categories, appliances generates the most sales. In the fiscal year ended Feb. 3, appliance sales at Lowe's reached $13.08 billion.
The Lowe's story began in North Carolina when Wilkes County farmer L.S. Lowe decided to start his own store, opening Lowe's North Wilkesboro Hardware in 1921.
Half of Lowe's locations have a Home Depot within 2.23 miles and 77% have a location within 10-miles. This suggests that either (1) the brands see themselves as going after different customers in the same market or (2) they compete head-to-head for the same customers in the same places.
While it is true that some chains have "sister stores" like Olive Garden and Red Lobster, it is false that there is any direct relationship between Lowe's and Home Depot management. There are similarities to be found in these home improvement giant retailers for sure, but there are also many differences.
One benefit to shopping at Lowe's over Home Depot is that the price match policy allows customers to price match Amazon products, while Home Depot's policy is limited to brick-and-mortar stores. Lowe's customers can enroll in the Lowe's rewards program to get a variety of free, incentivized, or discounted products.