![]() Lowe's began trading on the New York Stock Exchange in 1979. ![]() By 1962, Lowe's operated 21 stores and reported annual revenues of $32 million. His five-man executive team, which included Robert Strickland and Leonard Herring, took the company public in 1961. In 1961, Buchan died of a heart attack at age 44. Over time, the Lowe's Sparta Hardware store opened and Jim was satisfied with these two stores but Carl was beginning to dream of a chain of Lowe Hardware stores.Jim Lowe was a hearty, happy-go-lucky guy whose large frame had inspired the nickname 'Puny.' In 1946, he met and fell in love with dark-haired Lucy Thurston, a teacher from Taylorsville. ![]() Jim took on Carl Buchan as a partner in 1943.Buchan anticipated the dramatic increase in construction after, and under his management, the store focused on and building materials. In 1954, Lowe started the Lowes Foods grocery store chain.īy 1955, Buchan quickly expanded the company by opening stores in the North Carolina cities of Asheville, Charlotte, and Durham. After Lowe died in 1940, the business was inherited by his daughter Ruth, who sold the company to her brother Jim that same year. Lowe and Buchan differed on expanding the company to new areas and they split in 1952 with Buchan (himself) taking control of the hardware and building supply business and Lowe taking other joint ventures the two controlled (including a car dealership). The company bought a second location in Sparta, North Carolina in 1949. Before then, the product mix had also included notions, dry goods, horse tack, snuff, produce, and groceries. Jim took on Carl Buchan as a partner in 1943.īuchan anticipated the dramatic increase in construction after World War II, and under his management, the store focused on hardware and building materials. After Lowe died in 1940, the business was inherited by his daughter Ruth, who sold the company to her brother Jim that same year. The first Lowe's store, Lowe's North Wilkesboro Hardware, was first opened in North Wilkesboro, North Carolina in 1921 by Lucius Smith Lowe (1879 - 1940).
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