. . . Home Depot's nationwide growth binge in early 1990s forced North Carolina-based Lowe's to rethink its strategies or drop out of the race, says Robert Tillman, who steps down today after 42 years with the company.

Lowe's overhauled its stores, enlarging and designing them to appeal to women. It grew from a regional operator to the nation's No. 2 home improvement chain, behind Home Depot.

"We got a little lucky," said Tillman in a phone interview from his office at Lowe's headquarters. "As much as they aggressively wanted to put Lowe's out of business, they helped us survive." . . .

Competition is good not just for customers, but for good companies and their shareholders. The best companies quickly learn from their threats and adapt to them, saving jobs and shareholder wealth over the long haul. Companies operating without strong rivals, however, inevitably become the corporate version of a wildebeest, an ungainly pack animal ripe for the picking by more lithe competitors.