300 stores in two years

Lowe’s is standing by its forecast of three to four per cent sales growth in like-for-like terms for the third quarter. The DIY retailer expects a sales increase of around six per cent for the entire financial year after adjustment. These figures were announced in the run-up to an analysts’ conference being held in Manhattan. The number of new openings is scheduled to reach 150 next year, and could be up to 160 in 2006. Consequently, annual sales are forecast to increase by 16 to 17 per cent next year, and also by around 16 per cent in 2006.