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LOWE'S ANNOUNCES JUNE SALES

 NORTH WILKESBORO, N.C., June 29 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW), announced its June sales totaled $376.2 million, a 20 percent increase over June 1992. Retail sales increased 25 percent and sales to contractors grew 9 percent.
 4 Weeks Ended: Jun. 25, 1993 Jun. 26, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 25 $271.7 72 $217.8 69
 Contractor Sales + 9 $104.5 28 $ 96.0 31
 Total Sales + 20 $376.2 100 $313.8 100
 Comparable Stores(A) 263 + 14 $323.0 86 $284.4 91
 New Projects(B) 37 +119 $ 51.9 14 $ 23.7 7
 Closed Stores(C) 1.3 $ 5.7 2
 Total Sales + 20 $376.2 100 $313.8 100
 Total Stores 300
 Week Ended: Jun. 25, 1993 Jun. 26, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 16 $ 63.1 71 $ 54.4 69.
 Contractor Sales + 4 $ 25.6 29 $ 24.6 31
 Total Sales + 12 $ 88.7 100 $ 79.0 100
 Total Stores 300 305
 Rounded totals, millions of dollars
 (A) Stores open more than one year on June 1 with comparable square footage.
 (B) Stores open less than one year and stores which have been relocated within the past twelve months.
 (C) 15 stores closed between June, 1992 and June 25, 1993.
 Management commented that the June, 1991 comparable week's sales were $ 42.2 million retail, $ 21.4 million contractor, and $ 63.6 million total. The two-year compound growth rates in weekly sales are: Retail, + 22 percent; Contractor, + 9 percent; and Total, + 18 percent. The June 1991 comparable week's sales were from 307 stores.
 In August 1992 the company announced and in May 1993 the company updated plans for opening 55 to 60 of its large home center stores in fiscal year 1993. The company has now formulated plans for opening 100 to 120 of these large stores in fiscal years 1993 and 1994.
 Lowe's is a specialty retailer of home improvement products. We serve customers in 300 stores in 20 states, and were recently ranked in Doubleday's newest edition of The 100 Best Companies to Work For in America.
 -0- 6/29/93
 /CONTACT: (Corporate contacts) W. Cliff Oxford or Clarissa S. Felts of Lowe's Companies, 919-651-4631 or 919-651-4254/
 (LOW)


CO: Lowe's Companies, Inc. ST: North Carolina IN: REA SU:

CM -- CH002 -- 6564 06/29/93 08:58 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
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