3.4 per cent more at Lowe’s

owe’s recorded sales in the recently completed fiscal year (to 28 January 2011) of US $ 48.8 bn, or 3.4 per cent more than the previous year. The company, which is number two in the USA and worldwide, achieved an increase of 1.3 per cent like-for-like. Sales in the fourth quarter grew by 3.1 per cent to US $ 10.5 bn. During this period Lowe’s opened 17 stores and closed two down. At the cut-off date at the end of January the group had 1 749 DIY stores in operation in the USA, Canada and Mexico. Between 25 and 30 more stores are to be added to the total during this current year, with a sales growth target of five per cent.