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LOWE'S ANNOUNCES MARCH SALES DECLARES CASH DIVIDEND

 NORTH WILKESBORO, N.C., March 30 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW; PSE London) announced its March sales totaled $270.5 million equaling March 1992. Retail sales were flat and sales to contractors increased 2 percent.
 4 Weeks Ended: Mar. 26, 1993 Mar. 27, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales - $183.6 68 $183.7 68
 Contractor Sales + 2 $ 86.9 32 $ 85.1 32
 Total Sales - $270.5 100 $268.8 100
 Comparable Stores(A) 259 ( 5) $222.0 82 $233.2 87
 New Projects(B) 42 + 57 $ 48.5 18 $ 30.8 11
 Closed Stores(C) $ 4.8 2
 Total Sales - $270.5 100 $268.8 100
 Total Stores 301
 Week Ended: Mar. 26, 1993 Mar. 27, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 13 $ 51.5 71 $ 45.6 68
 Contractor Sales - $ 21.5 29 $ 21.7 32
 Total Sales + 8 $ 73.0 100 $ 67.3 100
 Total Stores 301 307
 Rounded totals, millions of dollars
 (A) Stores open more than one year on March 1 with comparable
 square footage
 (B) Stores open less than one year and stores which have been
 retrofitted within the past twelve months
 (C) 12 stores closed between March, 1992 and February 21, 1993
 Management commented that the March 1991 comparable week's sales were $ 49.5 million retail, $ 18.5 million contractor, and $ 68.0 million total. The two-year compound growth rates in weekly sales are: Retail, + 2 percent; Contractor, + 8 percent; and Total, + 4 percent. The March 1991 comparable week's sales were from 307 stores.
 Of further interest, Lowe's Board of Directors declared a quarterly cash dividend of 8 cents per share. This will be the 127th consecutive cash dividend and will be paid on April 30 to shareholders of record on April 16, 1993.
 Lowe's is a specialty retailer of home improvement products. We serve customers in 301 stores in 20 states, and were recently selected as one of the 100 Best Companies to work for in America.
 -0- 3/30/93
 /CONTACT: (Corporate contacts) W. Cliff Oxford or Clarissa S. Felts, Lowe's Companies, 919-651-4631 or 919-651-4254/
 (LOW)


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

CM -- CH010 -- 1127 03/30/93 14:25 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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