290 new openings in two years

Lowe’s intends to open 140 new stores this year, starting with 29 in the first quarter. The company has announced that a further 150 new openings are already planned for 2005. During the fourth quarter of last year, Lowe’s opened 47 stores, giving the world’s second-largest DIY chain 952 stores with a total retail area of 10.1 mio m2 in 45 US states as of 30 January 2004. The company is aiming for a growth rate of 17 per cent in sales in 2004 and an increase in comparable store sales of five to six per cent is anticipated.