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Retail Top 100 2012, No. 68: Lowe's

June 21, 2012

As the world's second-largest hardware chain, Lowe's is ranked among the Top 50 corporations in America. Along with chief competitor Home Depot, Lowe's was able to thrive on homeowners' new focus on remodeling. Despite signs of an improving economy and consumer spending, the retail giant recently announced that 20 underperforming stores across the country will be shut down. Moreover, Lowe's is also holding back on its expansion plans of opening up any new stores. As a part of this restructuring effort, it will also be laying off around 2,000 people for better resource utilization and to maximize profits. Lowe's is also working to reduce promotions and moving toward an "everyday low price" philosophy in response to consumers' reluctance to undertake pricey home improvement projects.

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