High increase in earnings

Lowe's, the number two in the United States, recorded sales in the fourth quarter of the completed fiscal year 2004 up 17.9 per cent on the same period a year ago. Volume sales totalled US $ 8.55 bn (€ 6.46 bn). Comparable store sales were up by 6.9 per cent. For the entire year to 28 January 2005 the company announced sales of US $ 36.5 bn (€ 27.59 bn), which amounts to growth of 18.2 per cent over the previous year. Comparable store sales came to 6.6 per cent. Net earnings in fiscal 2004 increased by 26.7 per cent to US $ 508 mio (€ 384 mio). At the end of the fiscal year Lowe's operated 1 087 stores representing a combined retail space that saw a 13.8 per cent increase in 2004 over the previous year to 11.5 mio m².