Lowe’s Lands on National Retail Federation’s List of Top 100 Retailers of 2023
By Jennifer Thomas, Senior Staff Writer, Charlotte Business Journal
Lowe’s Cos. Inc. (NYSE: LOW) is one of the Top 100 Retailers of 2023. The National Retail Federation ranked the Mooresville-based home-improvement giant in the No. 9 slot in its annual list. It has held the ninth spot since 2019.
That list is compiled by Kantar, a global marketing data, insight and consultancy company. Companies are ranked by the past 52-or 53-week annual retail sales, with a focus on domestic sales.
Lowe’s had U.S. annual sales of $89.28 billion in 2022. Globally, it reported sales of $93.61 billion last year.
The retailer had 1,738 home-improvement and hardware stores in 2022. It has about 300,000 employees.
Lowe’s projects annual sales will be between $87 billion and $89 billion for 2023, with comparable sales set to decline 2% to 4%. The retailer revamped its outlook for the year after facing softer sales in the first fiscal quarter.
“Collectively, retailers were consistent across the board last year because most everybody grew, and at more or less the same rate,” says David Marcotte, Kantar senior vice president David Marcotte said.