Lowe's 2001 Annual Report Download - page 10

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WHAT YOU WANT
Co nsumers say they have eno ugh “stuff.” They want quality pro ducts and timely so lutio ns. With mo re
than 40,000 pro ducts in sto ck every day, and many mo re available by special o rder, Lo we’s makes
it easy fo r o ur custo mers to find quality and value. We co ntinue to build o n o ur aspiratio nal, “Up The
Co ntinuum” strategy, witho ut abando ning the o pening price po int o n go o d, basic items fo r the mo st
price-co nscio us co nsumers.
Quality is also abo ut trust. Lo we’s co ntinues to expand installatio n services fo r a gro wing segment o f
time- starved ho meo wners. Custo mers trust the jo b will be do ne right because Lo we’s stands behind it.
WHEN YOU WANT I T
When a majo r appliance breaks, it’s no t always po ssible to wait to replace it. Lo we’s unmatched in- sto ck
po sition and co nvenient credit o ptio ns allo w custo mers to get the appliance they need no w, witho ut
missing a beat.
Fo r co mmercial custo mers, time is mo re than numbers o n a clock …it’s mo ney in their po ckets.
Lo we’s caters to the peo ple who cater to ho meo wners. Time- saving Ready- to -Go o rders, fax, pho ne and
o nline o rdering, professio nal pro ducts and supplies, jo b lo t quantities, delivery, and a trained, dedicated
staff who understand the pro s’ business needs are just so me of the ways Lo we’s is gro wing its business
amo ng this impo rtant custo mer gro up.
Lo we’s centralized distributio n strateg y pro vides a better way to get pro ducts into o ur custo mers’
hands and ho mes as quickly as po ssible. Over the past eight years, Lo we’s has invested mo re than $400
millio n in seven distributio n centers. Our state-of-the-art lo gistics techno logy drives co st and time
o ut of the supply chain, helps Lo we’s better manage invento ry and invento ry replenishment, and
increases the in-sto ck po sitio n o f o ur sto res. As a result, custo mers find the pro ducts they want, when
they want them, at a guaranteed lo w price.
WHERE YOU ARE
In 2001, Lo we’s was clo ser to mo re ho meo wners than ever befo re as we o pened 115 new sto res,
the majo rity of which were in metro po litan areas. Nearly 50% o f o ur sto re base is no w in cities with
po pulatio ns o ver 500,000, and metro areas acco unt fo r 65% o f o ur expansio n plans fo r 2002.
Lo we’s has invested wisely —building spacio us, bright and eye- appealing sto res. Our sto res are yo ung,
approximately fo ur years o ld o n average, and well- po sitio ned to meet the demands of to day’s co nsumers.
Lowe’s trained associates know the tools of their trade,
so they can help a weekend DI Yer or a seasoned pro with
in stock products or special order options.