Lowe's 1997 Annual Report Download - page 2

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Financial Highlights
In thousands, except for per share data Change
from 1996 Fiscal 1997 Fiscal 1996
Sales 18% $10,136,890 $8,600,241
Net Earnings 22% $357,484 $292,150
Earnings per Share:
Basic 18% $2.05 $1.74
Diluted 20% $2.05 $1.71
Cash Dividends per Share: 5% $0.22 $0.21
Company Profile
Lowe’s Companies, Inc. is one of America’s 25 largest retailers and a Fortune 200 company
serving the home improvement, home decor, and home construction markets from approxi-
mately 450 stores located primarily in the eastern half of the United States. At the beginning of
1998, our employees numbered nearly 60,000 and our retail sales space totaled approximately
36.5 million square feet.
Lowe’s has been selected by Fortune magazine as one of the “ 100 Best Companies to Work
For in America” and is the only home improvement retailer to receive that distinction.
In late 1997 we proudly announced our commitment as a Gold Sponsor to the 1999 Special
Olympics World Summer Games. The 10th Special Olympics World Games will be the largest
sporting event in the world in 1999. Our goal is to provide all the visiting athletes, coaches,
volunteers, families and friends a memorable and enriching life experience.
Lowe’s has been a publicly held company since October 10, 1961. Our stock is listed on the
New York Stock Exchange, the Pacific Stock Exchange, and the London Stock Exchange with
shares trading under the ticker symbol LOW.
Contents
Letter to Shareholders ................................................... 1
“ How Can We Help You Today?” ................................... 4
Message from Bob Strickland ...................................... 13
Board of Directors........................................................ 14
Lowe’s Executive Management Committee ................. 16
Disclosure Regarding Forward-looking Statements..... 16
Auditors’ Report ........................................................... 17
Management’s Discussion and Analysis ....................... 18
Financial History ........................................................... 36
Investor Information ...................................... Back Cover