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LOWE'S ANNOUNCES SEPTEMBER SALES; DECLARES CASH DIVIDEND

 NORTH WILKESBORO, N.C., Sept. 27 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW;PSE;London) announced its September sales totaled $351.7 million, a 15 percent increase over September 1992. Retail sales increased 18 percent and sales to contractors grew 8 percent.
 4 Weeks Ended: Sep. 24, 1993 Sep. 25, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 18 $249.7 71 $210.8 69
 Contractor Sales + 8 $102.0 29 $ 94.3 31
 Total Sales + 15 $351.7 100 $305.1 100
 Comparable Stores(A) 256 + 7 $286.2 81 $266.5 87
 New Projects(B) 45 +110 $ 63.8 18 $ 30.4 10
 Closed Stores(C) 1.7 1 $ 8.2 3
 Total Sales + 15 $351.7 100 $305.1 100
 Total Stores 301
 Week Ended: Sep. 24, 1993 Sep. 25, 1992
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 27 $ 60.3 71 $ 47.3 69
 Contractor Sales + 19 $ 25.2 29 $ 21.1 31
 Total Sales + 25 $ 85.5 100 $ 68.4 100
 Total Stores 301 304
 Rounded totals, millions of dollars
 (A) Stores open more than one year with comparable square footage.
 (B) Stores open less than one year, and stores which have been relocated within the past twelve months.
 (C) 17 stores closed or sold between December 1992 and September 24, 1993.
 The Sepember 1991 comparable week's sales were $ 39.0 million retail, $ 19.6 million contractor, and $ 58.6 million total. The two-year compound growth rates in weekly sales are: Retail, + 24 percent; Contractor, + 13 percent; and Total, + 21 percent. The September 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 129th consecutive cash dividend and will be paid on October 29, 1993, to shareholders of record October 15, 1993.
 Lowe's is a specialty retailer of home improvement products. We 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- 9/27/93
 /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 -- CH010 -- 6055 09/27/93 16:05 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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