{"id":5009,"date":"2015-05-28T09:28:37","date_gmt":"2015-05-28T09:28:37","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/?p=5009"},"modified":"2015-05-28T09:28:37","modified_gmt":"2015-05-28T09:28:37","slug":"company-snapshot-lowes-companies-inc-2","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2015\/05\/company-snapshot-lowes-companies-inc-2\/","title":{"rendered":"Company Snapshot: Lowe's Companies Inc."},"content":{"rendered":"

Will Lowe\u2019s Grow Through OSH?<\/strong><\/p>\n

 <\/p>\n

Address
\n<\/strong>1000 Lowes Boulevard
\nMooresville, NC 28117<\/p>\n

Phone
\n<\/strong>704 758-1000<\/p>\n

Internet Homepage
\n<\/strong>www.lowes.com<\/p>\n

Year Founded
\n<\/strong>1946<\/p>\n

Total Stores
\n<\/strong>1,843<\/p>\n

Total Sales
\n<\/strong>$56,223,000,000<\/p>\n

Senior Executives
\n<\/strong>Robert\u00a0A.\u00a0Niblock- Chairman, President, CEO
\nRick\u00a0D.\u00a0Damron- COO<\/p>\n

 <\/p>\n

The recession brought growth for both industry giants, Lowe\u2019s and Home Depot, to a virtual standstill.\u00a0 Neither has rebounded with proposals for new store openings projecting above single digits for several years.<\/p>\n

This stunning lack of growth has brought many to speculate that the big box format has pretty much reached its limit, that few communities remain which are large enough to support home center warehouses.\u00a0 If this is true, from where can these giants of the market derive future growth?<\/p>\n

Two years ago Lowe\u2019s acquired Sear\u2019s castoff Orchard Supply Hardware.\u00a0 Prior to its acquisition by Sear\u2019s in 1996, OSH had been seen as an innovative, unique California hardware chain. Stores were deemed as rather large for hardware stores and approximated 40,000 sq. ft.\u00a0 Product offerings reflected local communities.\u00a0 When a particularly strong water emergency hit, OSH brought in water from afar, simply to help customers within the community.<\/p>\n

When Sear\u2019s acquired OSH, word quickly spread that new Sear\u2019s Hardware Stores would be created in the Orchard mold.\u00a0 Eventually it became apparent that this would never come to fruition.\u00a0 In 2012 Sear\u2019s spun-off OSH. \u00a0\u00a0Just over a year later it was clear that the spinoff had failed as OSH was spun-off saddled with great debt.<\/p>\n

Lowe\u2019s came to the rescue and acquire the struggling OSH for bargain basement prices and trusted OSH personnel and management to turn the company around after a few store closures.\u00a0 This effort has been so successful that the Orchard prototype now appears to be the eventual key to growth for its parent, Lowe\u2019s.<\/p>\n

Recently Orchard debuted robots on its selling floor.\u00a0 These were designed to be modern age store greeters as well as having the ability to guide shoppers to the products they seek.\u00a0 Orchard\u2019s proximity to Silicon Valley was likely a part of the impetus to test this tech concept.\u00a0 The devices are called OSHbots\u00a0 \u00a0They speak both English and Spanish and are connected to an inventory database.\u00a0 Thus, they can inform customers if an item is out of stock.<\/p>\n

Keeping in line with the Silicon Valley connection, Orchard Supply just began offering 3D printing services.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Will Lowe\u2019s Grow Through OSH?   Address 1000 Lowes Boulevard Mooresville, NC 28117 Phone 704 758-1000 Internet Homepage www.lowes.com Year Founded 1946 Total Stores 1,843 Total Sales $56,223,000,000 Senior Executives Robert\u00a0A.\u00a0Niblock- Chairman, President, CEO Rick\u00a0D.\u00a0Damron- COO   The recession brought growth for both industry giants, Lowe\u2019s and Home Depot, to a virtual standstill.\u00a0 Neither has… Continue reading Company Snapshot: Lowe's Companies Inc.<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[15],"class_list":["post-5009","post","type-post","status-publish","format-standard","hentry","category-home-hardware","tag-snapshot","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/5009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=5009"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/5009\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=5009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=5009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=5009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}