Lowe’s grows by more than five per cent

Lowe’s finished the fiscal year 2014/2015 (end: 30 January 2015) with a 5.3 per cent increase on a total volume of USD 56.223 bn. The number two in the US and world market presented a 4.3 per cent growth for its complete branch network in the USA, Canada and Mexico as well as in the US market. In general the “somewhat stronger growth in the home improvement trade, as determined by Robert A. Niblock, Chairman, President and CEO, became particularly noticeable in the fourth quarter. In this period, the sales grew by 7.6 per cent to USD 12.540 bn, and whereas the like-for-like sales throughout the company increased by 7.3 per cent, the US market increased by 7.4 per cent.At the cut-off date, the branch network consisted of 1 840 DIY and hardware stores. In the coming fiscal year 2015/2016, Lowe’s will open between 15 and 20 new stores.