Quarterly figures from Lowe’s

Lowe’s, the second-largest DIY chain in the USA, has announced a sales decline of 1.5 per cent to US $ 11.8 bn for the first quarter of 2009. Like-for-like sales are 6.6 per cent down. When compared with the same period last year the chain’s net profit shrank by 21.6 per cent to US $ 476 mio. The company increased its total number of stores in the USA and Canada by 21 to 1 670, while expanding floorspace by 7 per cent to 17.54 mio m². There are plans for 18 new openings altogether in the second quarter.