Lowe's 2001 Annual Report Download - page 13

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11
The Lowe’s brand is strong and growing because we offer products
customers respect and installation services they trust.
BUI LDI NG TRUST— BUI LDI NG DREAMS
Fo r the past two years, ho me impro vement spending has been o n the rise. Lowe’s is capturing an
increasing percentage o f tho se do llars by pro viding pro ducts and services fo r the pro jects that dreams
are made o f.
At Lo we’s, we build o ur brand by partnering with the best brand names in the business, like Po rter
Cable®, Pella, Delta®, and Whirlpo o l. We leverage the po wer of these respected names and offer o ur
custo mers brands that are inno vative and exclusive.
WE DO OUR HOMEWORK
Lo we’s evaluates pro ducts based o n quality, value, brand preferences, custo mer trends and sho pping
behavio r. By co nstantly tweaking the mix of pro ducts in the sto re, we ac hieve higher average sales per
custo mer, increase o ur gro ss margin, and enhance pro ductivity fo r Lo we’s and o ur vendo rs.
Lo we’s bro ught success ho me in many pro duct catego ries in 2001. Our best paint is no w America’s
best. Lo we’s exclusive American Traditio n interio r paint was rated a “Best Buy” by a leading co nsumer
magazine. In 2001, appliance sales c o ntinued to perfo rm well, and by the fo urth quarter, Lo we’s had
co mmanded 10% of the natio n’s appliance business, with the highest share g ro wth amo ng any o f the
majo r players.
We co ntinue to enhance the value equatio n fo r custo mers. This spring, Lo we’s intro duced Cub Cadet and
Husqvarna lawn and garden equipment, previo usly unavailable o utside specialty sto res. The Waverly
Ho me Classics® co llectio n o f wallco verings, windo w treatments and drapery hardware, new in sto res this
year, is pro viding ano ther o ppo rtunity fo r Lo we’s to sho wcase o ur expertise in ho me déco r.
Quality is essential, but to satisfy ho meo wners, it must be at the right price. Lo we’s everyday lo w price
po licy and 10% price guarantee means o ur custo mers do n’t have to search fo r sales to get the best
price o n the pro ducts they need fo r their ho mes.