It is a common misconception that Lowe’s is owned by Walmart. However, while Walmart once owned a stake in the company, they sold their shares in 2005 and the two companies are now completely independent from one another.
So why do people often think that Lowe’s is owned by Walmart There are a few reasons.
Firstly, both companies sell similar products and have a very similar business model. This can lead to confusion, especially as both stores are often found in close proximity to one another.
Secondly, Walmart was once a major shareholder in Lowe’s, owning around 15% of the company. However, as mentioned above, they sold all of their shares in 2005.
Finally, while Lowe’s is not currently owned by Walmart, that doesn’t mean that there isn’t a connection between the two companies. The current CEO of Lowe’s, Marvin Ellison, used to work for Walmart. He was appointed as Lowe’s CEO in 2018 after serving as the president and CEO of J.C. Penney.
So while there is a connection between Lowe’s and Walmart, the two companies are now completely independent from one another.
