Lowe's 2004 Annual Report Download - page 8

Page 6 Lowe’s 2004 Annual Report
With each passing decade, the American consumer’s
attention to and focus on the home has increased
significantly. People are choosing to spend more of
their free time at home enjoying the company of
family and friends. For nearly all families, home
ownership represents the largest investment of their
lives, and investments in their homes are true
reflections of their lifestyles, priorities and dreams.
At every stage of our growth, we have focused
on the critical importance of building a customer-
obsessed organization by making long-term
investments in our business and employees.
Those investments enable us to offer a growing
number of customers expanded product selections
and complete home improvement solutions.
In 2004, we had positive performance in all our
product categories and across all regions. In our
highly fragmented marketplace, where Lowe’s and
its largest competitor hold approximately 20
percent share of U.S. sales, our opportunity for
growth remains robust. We are expanding at the
rate of more than one new store every three days,
The Lowe’s story is one of
constant improvement, long-term
strategic growth and
exceptional customer service. With
the clear goal of Improving Home
Improvement®for our customers,
Lowe’s is continuing to define
new opportunities
for growth as we strive to be
our customers’ first choice for
home improvement.