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LOWE'S ANNOUNCES MAY SALES; DECLARES CASH DIVIDEND

 NORTH WILKESBORO, N.C., June 1 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW;PSE London) announced its May sales totaled $385.7 million, a 20 percent increase over May 1992. Retail sales increased 24 percent and sales to contractors grew 11 percent.
 4 Weeks Ended: May 28, 1993 May 29, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 24 $280.8 73 $226.3 71
 Contractor Sales + 11 $104.9 27 $ 94.2 29
 Total Sales + 20 $385.7 100 $320.5 100
 Comparable Stores (A) 265 + 15 $326.1 85 $283.7 89
 New Projects (B) 36 + 97 $ 58.2 15 $ 29.5 9
 Closed Stores (C) 1.4 $ 7.3 2
 Total Sales + 20 $385.7 100 $320.5 100
 Total Stores 301
 Week Ended: May 28, 1993 May 29, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 21 $ 68.2 72 $ 56.2 71
 Contractor Sales + 14 $ 26.4 28 $ 23.1 29
 Total Sales + 19 $ 94.6 100 $ 79.3 100
 Total Stores 301 308
 Rounded totals, millions of dollars
 (A) Stores open more than one year on May 1 with comparable
 square footage
 (B) Stores open less than one year and stores which have been
 retrofitted within the past twelve months
 (C) 13 stores closed between June, 1992 and May 21, 1993
 Management commented that the May, 1991 comparable week's sales were $ 54.3 million retail, $ 20.1 million contractor, and $ 74.4 million total. The two-year compound growth rates in weekly sales are: Retail, + 12 percent; Contractor, + 15 percent; and Total, + 13 percent. The May 1991 comparable week's sales were from 307 stores.
 The Annual Meeting of Shareholders was held on Friday, May 28, 1993, in Wilkesboro, N.C. Shareholders reelected William Andres, John Belk and Robert Strickland, each of whom received more than a 97 percent favorable vote of all votes cast. Shareholders also approved the reappointment of Deloitte & Touche as Certified Public Accountants.
 Of further interest, Lowe's Board of Directors declared a quarterly cash dividend of 8 cents per share. This will be the 128th consecutive cash dividend and will be paid on July 31 to shareholders of record on July 17, 1993.
 Lowe's is a specialty retailer of home improvement products. serve customers in 301 stores in 20 states, and were recently ranked in Doubleday's newest edition of The 100 Best Companies To Work For In America.
 -0- 6/1/93
 /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: DIV

CM -- CH006 -- 3922 06/01/93 11:53 EDT
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Publication:PR Newswire
Date:Jun 1, 1993
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