Lowe's 2001 Annual Report Download - page 2

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IMPROVING HOME IMPROVEMENTTM
Ho me is … a castle, a retreat, a place to gro w and a place to
make yo ur o wn. In 2001, Americans returned their fo cus to all
that ho me means — co mfo rt, security, friends and family. And
Lo we’s was there, ready to help.
Lo we’s emplo yees are serving custo mers in metro po litan areas
and ho meto wns fro m co ast to co ast in bright, clean, well-o rganized
sto res making sho pping a pleasure. We plan to o pen 123 new
sto res in 2002, and will expand the Lowe’s co ncept to o ur 43rd
and 44th states.
Because Lo we’s understands ho w impo rtant ho me is to o ur
custo mers, we o ffer cho ices pro viding the best value fo r the
do llar — fro m the pro ducts o n o ur shelves to the services that
make sure the jo b is do ne right the first time.
Ho me is the American dream. Lo we’s has an unwavering
co mmitment to ho meo wners pursuing their dream and the
professio nals who help them achieve it.
Lo we’s kno ws the difference...
appro ximately 81 millio n square feet.
In 2001, Lo we’s o pened 115 new sto res, the majo rity of which
were in metro po litan markets. In 2002, the co mpany plans to o pen
123 new sto res and co ntinue its emphasis o n cities with po pulatio ns
greater than 500, 000, such as New Yo rk, Bo sto n, and Lo s Angeles.
Lowe’s is an active suppo rter o f the c o mmunities it serves.
Thro ugh the Lo we’s Hero es vo lunteer pro g rams and Lo we’s Ho me
Safety Co uncil, we provide help to civic groups with public safety
pro jects and share impo rtant ho me safety and fire preventio n
info rmatio n with neighbo rho o ds acro ss the co untry.
Headquartered in Wilkesbo ro, N.C., o ur 56- year-o ld co mpany
Co mpany Profile Lo we’s Co mpanies, Inc. is a $22 billio n retailer
of a co mplete line o f ho me impro vement pro ducts and equipment.
The co mpany serves mo re than seven millio n do - it- yo urself and
co mmercial business custo mers each week thro ugh 744 sto res in 42
states. Lo we’s is the wo rld’s seco nd largest ho me impro vement
retailer and the 14th largest retailer in the U.S.
Lowe’s is in the midst of an aggressive expansio n plan, o pening
a new sto re o n average every three days. The co mpany’s current
sto re pro to type has a 121,000 - square-fo o t sales flo o r with a lawn
and garden center averaging an additio nal 30,000 square feet. At
the beginning o f 2002, o ur retail square fo o tage to taled