Lowe's was established in 1946 by Carl Buchan in North Carolina after he became full owner of the North Wilkesboro Hardware Company. Lowe's was established with the aim of providing hardware, appliances and building materials at low prices by purchasing directly from the manufacturers.
Lowe's became a publicly traded company in 1961 and was listed on the New York Stock Exchange in 1979 under the LOW stock ticker. The company recorded its first billion dollars in annual sales in 1982, earning a profit of $25 million. In 2007 and 2009, Lowe's announced plans to open branches in both Canada and Mexico, respectively.