Lowe's Offers Cautious Forecast |
Wall Street Journal - Sep 22, 2009 |
Lowe's Cos. will slow store openings over the next five years to between 35 and 45 stores annually, the home-improvement retailer said.
The statement came as Lowe's issued a cautious earnings outlook for next year, though the company said it expects same-store sales to rise after three years of declines.
Lowe's will focus on high volume, metropolitan markets where it has far fewer stores than larger rival Home Depot Inc., Greg Bridgeford, executive vice president of business development, said at an investor conference Tuesday. In such markets, Lowe's estimates it has 104 stores to Home Depot's 256. Real-estate prices in such markets tend to be lower than elsewhere with more flexible terms.
Read Full Article from Wall Street Journal
- Posted: 2009-09-22 12:49:48
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