Lowe's 2003 Annual Report Download - page 17

“When a new neighbor moves in next door to you, I think everyone’s
initial reaction is the same. You hope they will be friendly, courteous, and
a good fit within the community. I get excited every time we announce a
new Lowe’s store, because that’s just the kind of neighbor we are.”
JORGE RODRIGUEZ
|
Store Manager, Bryan, TX
Investing nationwide. We are meeting our customers where they live. In their
neighborhoods with new stores; at their homes with an enhanced installed sales model;
and online with educational and purchasing tools on Lowes.com. We answered the call
to become increasingly more convenient with 130 new stores in 2003, expanding with
both our 116,000-square-foot prototype in metro markets and our 94,000-square-foot
store predominately in the smaller markets of the U.S. Incredible growth opportunities
still remain … opportunities that will continue to broaden Lowe’s position as a one-stop
shopping location for home improvement. With 140 stores planned for 2004, we will continue to increase our national
presence, market penetration and convenience for our customers.
For our customers, convenience means more than just a store closer to their homes. It means having the right products
at the right time in the right places and at the right prices. And it’s the part of Lowe’s most customers never see that enables us
to deliver on our promise. Behind the well-stocked shelves of products in the quantities necessary to meet our customers’
needs is a distribution infrastructure that includes a network of nine state-of-the-art regional distribution centers, allowing us
to flow product efficiently to every store, regardless of the location. Efficient distribution is the key to profitably serving small
markets and vital to flowing product to high-volume, large markets to maximize sales.
And we are more than a home improvement store to the markets we serve. We are a good neighbor. During the year, Lowe’s
responded to more than 40 natural disasters in 23 states. Following Hurricane Isabel and the California wildfires, Lowe’s and
its employees rushed relief supplies to aid victims of the disasters. Through the combination of a Lowe’s customer donation
program, corporate contributions, and Lowe’s Racing for Relief program with Team Lowe’s NASCAR driver Jimmie Johnson,
Lowe’s and its customers were able to contribute over $580,000 in response to these two disasters alone.
As a co-sponsor with Whirlpool Corporation on the Habitat for Humanity Jimmy Carter Work Project, Lowe’s impacted
communities in the Southeast, donating nearly $375,000 to facilitate the construction of more than 100 homes. And as a
continuation of its long-standing support, in 2004, Lowe’s will donate $2 million to help families achieve the dream of home
ownership by joining forces with Habitat across the country as the national partner for Habitat’s Women Build program.
Fulfilling Lowe’s mission to improve the communities it serves, Lowe’s Charitable and Educational Foundation awarded ten
$100,000 grants in 2003, with six of them going to K-12 public education systems throughout the country. Additionally, Lowe’s
is a proud supporter of the American Red Cross, the Home Safety Council, United Way of America and numerous nonprofit
organizations and programs that help communities across the country. Lowe’s also encourages volunteerism through the Lowe’s
Heroes program, a company-wide employee volunteer initiative aimed at addressing safety at home.
2003 ANNUAL REPORT 15