Lowe's reveals western Canada expansion plans

Home improvement retailer to open Calgary locations in fiscal 2010; additional locations identified

TORONTO , Dec. 7 /CNW/ - Lowe's Companies Canada , ULC (Lowe's), a subsidiary of Lowe's Companies, Inc. (NYSE: LOW), announced today plans for continuing its growth in the Canadian marketplace by expanding into Western Canada in the company's fiscal 2010.

As part of the company's previously announced plans to open 35 to 45 stores in North America in fiscal 2010, Lowe's plans to open three stores in the Calgary region (one located at CrossIron Mills in the County of Rocky View , one located in the Shepard Industrial Area/McKenzie Town and one located in the Sunridge Industrial Area), with further plans to expand into Edmonton , British Columbia and Saskatchewan in future years. Lowe's first opened Canadian stores in December 2007 and now operates 15 stores in Ontario.

"Lowe's has been warmly welcomed by Canadian consumers over the past two years, and our research shows that our innovative products and passion for superior customer service will appeal to home improvement enthusiasts across Western Canada , as well," said Alan Huggins , president, Lowe's Canada . "This week, Lowe's celebrates our second anniversary in Ontario, and we remain on track with our goals to bring great products and outstanding customer service to homeowners and commercial customers across Canada ."

In 2005, Lowe's announced plans to open its first stores in the Greater Toronto Area, with as many as 100 stores across Canada over time. Each new store creates more than 100 local jobs and represents an average investment of $19.4 million CDN(1) ( $18.5 million USD ).

"Based on our experience, we know Canadians want to both protect their investment in their homes and make home improvements that will enhance their quality of life for years to come," Huggins added. "We look forward to making that process convenient for our Calgary customers while we also pursue additional opportunities in Edmonton , British Columbia and Saskatchewan."

Lowe's opened its Canadian headquarters in Toronto in 2006 and now has more than 2,300 employees in the Canadian office and stores. Lowe's continues to hire employees for upcoming stores and offers comprehensive benefits for full-time and part-time positions. For more information, visit www.lowes.ca/careers.

ABOUT LOWE'S:

With fiscal year 2008 sales of $48.2 billion , Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 14 million customers a week. Lowe's operates more than 1,700 home improvement stores in the United States and Canada . Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit www.Lowes.ca.

    
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    (1) Based on currency conversion rates as of Dec. 3, 2009, as per Bank of
        Canada
    

For further information: Media Contact: Maureen Rich, Lowe's Companies, Inc., [phone] or [email protected]