Lowe’s with an 18 per cent increase

Lowe’s has announced sales increases of 18.1 per cent overall for the 2003/2004 financial year (to 30 January). Volume sales of US $ 30.838 bn (€ 24.353 bn) yielded an increase of 6.7 per cent in comparable terms. This figure amounted to 7.3 per cent in the fourth quarter alone. Net earnings grew by 27.6 per cent to US $ 1.877 bn (€ 1.482 bn) within twelve months. In his statement, President Robert A. Niblock said that the company’s strategy of expansion in major metropolitan markets is one of the factors leading to these strong results.
At the end of the financial year the company completed the sale of 26 locations under the name of Contractor Yard. The product- and pro-oriented builder centres were taken over by the Strober Organization, which claims as a result to have become the country’s seventh biggest builders’ merchant group.