Lowe's

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Headquarters: 1000 Lowe's Blvd. Mooresville, NC 28115 Employees: 234,000 CEO: Robert Niblock Stock Symbol: LOW Website: http://www.lowes.com Company News Career Site Lowe's is the nation's second-largest chain of home-improvement stores. Founded in 1946 in Mooresville, NC, Lowe's serves 15 million customers a week at 1,725 home improvement stores in the U.S., Canada and Mexico. Lowe's sells everything from lighting fixtures to hardware, appliances and garden supplies. Each store stocks 40,000 products and more than 500,000 products are available by special order. In 2010, the company reported sales of $48.8 billion and net income of $2.0 billion. The company's main units are Stores, Distribution Centers and Corporate. Approximately 92% of Lowe's employees are located in Stores, 6% are at Distribution Centers and 2% are at Corporate locations. About 75% of all jobs are full-time positions. The company has closed about 25 underperforming stores this year and cut over 2,000 jobs. Lowe's plans to open 25-30 new stores in 2011 and only 10-15 new stores in 2012, down from a projected 30 stores. Benefits Lowe's 401(k) Plan Eligibility: All employees after 90 days of continuous service. Baseline Match Eligibility: All employees after one year of service. After one year of service the company matches the first 1% you save each pay period at 100%. Savings above 1%, up to 6% of compensation, will be matched at 25%. Immediate vesting. Vacation Eligibility: All regular full-time and regular part-time employees after one year of employment. You become eligible for vacation based on service as follows: Full-time: After 1 year of service: 2 weeks After 5 years of service: 3 weeks After 15 years of service: 4 weeks Part-time: After 1 year of service: 40 hours After 5 years of service: 60 hours After 15 years of service: 80 hours Holidays Eligibility: All regular full-time salaried employees, first day of employment All regular full-time hourly and part-time employees, after 90 days of employment Lowe's generally provides the following six paid holidays: New Year's Day Memorial Day Fourth of July Labor Day Thanksgiving Day Christmas Day Full-time employees will receive eight hours holiday pay and part-time employees will receive four hours holiday pay for each scheduled holiday. Hourly employees who are required to work on a holiday will receive holiday pay plus regular pay for the holiday; salaried employees who work on a holiday will be given another day off with pay. Basic Sick Pay Eligibility: All regular full-time employees after 89 days of continuous employment. Sick days are accrued at a rate of six days (48 hours) per year. Unused sick days may be carried forward with no limit on days accumulated. Employee Purchase of Company Products Eligibility: All employees (full-time, part-time, and temporary) first day of employment Employees may purchase company products at a 10% discount. Purchases must be for the use of the employees, their dependents, or as bona fide gifts. Updated October 19, 2011