Limited expectations

Lowe’s, the number two home improvement retailer in the USA, is expecting a fall in comparable store sales of 2 per cent for fiscal 2007. Total sales are expected to grow by approximately 6 per cent compared with the previous year, according to company forecasts. Lowe’s aims to open 150 - 160 stores in all, thereby increasing its overall retail area by 11 per cent. Store opening costs are estimated at US $ 135 to 140 mio.