Last year Lowe’s achieved a turnover of US $ 1.1 bn (€ 0.9 bn) through the installation service available in its stores. President Robert A. Niblock announced at the annual general meeting on 30 May 2003 that the volume achieved by this business is to be doubled by the end of 2005. On the same occasion Robert L. Tillman, chairman and chief executive officer, reported that the company has moved up from 94th to 60th position on the Fortune list of the 500 biggest companies. On the list of the 50 most profitable companies, which is run by Business Week, Lowe’s now ranks seventh.