Lowe's Companies, Inc. is an American company that operates a chain of
retail home improvement and
appliance stores in the
United States,
Canada, and
Mexico. Founded in 1946 in
North Wilkesboro, North Carolina, the chain has 1,840 stores in the United States, Canada, and Mexico. Expansion into Canada began in 2007 with the opening of a store in
Hamilton, Ontario in early 2008. Lowe's started the construction of two stores in the Mexican city of
Monterrey officially entering the Mexican market. In 2011, Lowe's released plans to build over 150 stores in
Australia (as
Masters Home Improvement) over the next five years, hoping to compete with the A$46 billion industry. Lowe's Companies, Inc. is ranked #50 on the Fortune 500 list. As of 2010, the chain is based in
Mooresville, North Carolina. Lowe's is the second-largest hardware chain in the United States behind
The Home Depot and ahead of
Menards. Globally, Lowe's is also the second-largest hardware chain, again behind The Home Depot but ahead of the
European stores
B&Q and
OBI.