Lowe’s Companies is an American based chain of retail appliance and home improvement stores. It was founded in 1946 and the chain is now serving 14 million customers weekly and is operating 1,710 stores in the US and 20 in Canada. Its expansion in Canada started in 2007 with the opening of store in Ontario in 2008. In 2011, Lowe’s introduced plans to build over 150 stores in Australia in the next five years to compete with the industry. It is included in the Fortune 500 list and is ranked number 43. Lowe’s is the second largest US hardware chain, next to The Home Depot, leaving Menards in the third place. Lowe’s is also the world’s second largest hardware chain, again following The Home Depot.