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LOWE'S ANNOUNCES SEPTEMBER SALES DECLARES CASH DIVIDEND

 LOWE'S ANNOUNCES SEPTEMBER SALES DECLARES CASH DIVIDEND
 NORTH WILKESBORO, N.C., Sept. 28 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announced its September sales totaled $305.1 million, a 29 percent increase over September of 1991. Retail sales increased 32 percent and sales to contractors increased 22 percent.
 4 Weeks Ended: Sept. 25, 1992 Sept. 27, 1991
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 32 $210.8 69 $159.5 67
 Contractor Sales + 22 $ 94.3 31 $ 77.2 33
 Total Sales + 29 $305.1 100 $236.7 100
 Comparable Stores A 262 + 21 $253.8 83 $209.0 88
 New Projects B 42 +117 $ 51.3 17 $ 23.6 10
 Closed Stores C - $ 4.1 2
 Total Sales + 29 $305.1 100 $236.7 100
 Total Stores 304
 Week Ended: Sept. 25, 1992 Sept. 27, 1991
 Pct. Change Sales Pct. Mix Sales Pct. Mix
 Retail Sales + 21 $ 47.3 69 $ 39.0 67
 Contractor Sales + 8 $ 21.1 31 $ 19.6 33
 Total Sales + 17 $ 68.4 100 $ 58.6 100
 Total Stores 304 307
 Rounded totals, millions of dollars
 A. Stores open more than one year on September 1 with comparable
 square footage
 B. Stores open less than one year and stores which have been
 retrofitted or relocated within the past twelve months
 C. 10 stores closed between November, 1991 and July 24, 1992
 Management commented that the September, 1990 comparable week's sales were $ 35.3 million retail, $ 29.3 million contractor, and $ 64.6 million total. The two-year compound growth rates in weekly sales are: Retail, + 16 percent; Contractor, - 15 percent; and Total, + 3 percent. The September 1990 comparable week's sales were from 305 stores.
 Of further interest, Lowe's Board of Directors declared a quarterly cash dividend of 7 cents per share. This will be the 125th consecutive cash dividend and will be paid on October 31, 1992 to shareholders of record October 17, 1992.
 Relocated stores opened in Fayetteville, and Rockingham, North Carolina; Greenville, South Carolina and Longview, Texas during the month.
 Lowe's is a specialty retailer serving the home center do-it- yourself business, the consumer durables business, and the building contractor business. Lowe's operates 304 stores in 20 states.
 -0- 9/28/92
 /CONTACT: (Corporate contacts) W. Cliff Oxford or Clarissa S. Felts, Lowe's Companies, Inc., 919-651-4631 or 919-651-4254/
 (LOW) CO: Lowe's Companies, Inc. ST: North Carolina IN: REA SU: DIV


CM -- CH006 -- 4039 09/28/92 15:05 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
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