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Lowe’s 100-Year-Old Rival Crashes After Enduring 10 Recessions

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Tupelo Hardware, a family-owned store in Tupelo, Mississippi, faces a big change after almost 100 years. The shop at 114 West Main Street, where a young Elvis Presley bought his first guitar in 1946, will close on December 31, 2025. This marks the end of an era for the downtown landmark but also the start of a fresh chapter for the business.

Facing Tough Competition

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Big retail chains have changed the hardware store landscape over the past 40 years. Stores like Home Depot and Lowe’s offer huge selections and lower prices thanks to their massive buying power. Home Depot operates more than 1,700 stores across the United States, making it hard for small, independent shops to keep up.

Online shopping added even more pressure. By 2020, giants like Amazon provided same-day delivery, which set a new standard for convenience. Younger customers grew used to this speed, making traditional stores feel outdated. Tupelo Hardware struggled against these forces, just like many other local businesses.

A History of Strength

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Tupelo Hardware opened in 1926 under George H. Booth. The store survived 16 U.S. recessions, including the Great Depression and oil shortages. Family management and loyal customers kept it going through tough times.

Local support played a key role during economic slumps. Shoppers stuck by the store, helping it stay on Main Street. Its fame exploded after selling a $12 guitar to 13-year-old Elvis Presley. Today, tourists visit for that story, mixing with regular folks who need tools and supplies.

A Personal Family Challenge

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The closure comes from a health issue, not money problems. George Booth II, the third-generation manager, had a stroke that cut back his ability to run things. His son, George Booth III, made the hard decision to focus on family over the store’s heavy demands.

On December 10, the family shared the news with deep regret. “It is with a heavy heart that we announce the closing of our historic downtown location,” they said. This choice shows how personal events can reshape even long-standing businesses.

Shifting to a New Location

The Booths already started a new chapter nearby. In 2021, they opened Tupelo Ace Hardware at 1776 McCullough Boulevard, just six minutes from downtown. This store operates under the Ace franchise, based in Oak Brook, Illinois.

Ace helps more than 5,500 independent stores worldwide with supplies, marketing, and operations. Owners keep control while gaining tools to compete with big chains. Booth III sees this as the way to carry on the family legacy in a tough market.

Community Reaction and Future Outlook

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Tupelo locals feel the loss of the downtown store deeply. It held memories linked to Elvis and offered personal service that big chains can’t match. One regular customer called it sad but was glad the business lives on.

This move reflects wider trends. Data shows more independent stores closing nationwide, but franchises like Ace provide a lifeline. Booth III plans to expand products and use online tools to attract more people. With strong community support, the store could blend its rich past with modern ways to survive retail changes. Whether it keeps Tupelo’s unique spirit amid growing sameness will depend on locals sticking around.

Sources

Wikipedia – Tupelo Hardware – Article – 2006
The Clio – Tupelo Hardware Co., Merchant who Sold Elvis Presley’s First Guitar – Article – June 2, 2014
TheStreet – 99-Year-Old Lowe’s and Home Depot Rival Closing Its Doors Forever – Article – December 7, 2025
Building Products Magazine – Historic Tupelo Hardware to Close – Article – December 11, 2025
Elvis Presley Birthplace & Museum – Tupelo – Official Site
Livability – Tupelo Hardware Co.: Important History, Bright Future – Article – August 24, 2021