North Wilkesboro, NC, December 3, 1998 -- Lowe’s Companies, Inc. (NYSE: LOW) announced today that for the four-week period ended November 27, 1998, sales increased 21.1% to $946.1 million from $781.3 million a year ago. The Company’s comparable store sales for November 1998 increased 6.9%. Large stores (those larger than 80,000 square feet) also had a comparable store sales increase of 6.9% in the month.
During the month, the Company opened eight stores and relocated four stores. As of November 27, 1998, Lowe’s operated 473 stores in 26 states.
As previously disclosed, the Company will begin reporting sales results on a quarterly basis concurrent with its quarterly earnings results in the first quarter of fiscal 1999.
Lowe’s Companies, Inc. is the second largest retailer of home improvement products in the world with specific emphasis on do-it-yourself retail and commercial business customers. Lowe’s was recently ranked in Fortune magazine’s inaugural list of "The 100 Best Companies to Work For in America" and currently employs more than 65,000 people.
Shareholders’ and Security Analysts’ Inquiries:
Robert A. Niblock, Vice President and Treasurer 336-658-4860
Carson Anderson, Manager - Investor Relations 336-658-4385
Brian Peace, Director - Public Relations 336-658-4170