| | Business Summary | | Lowe's
Companies,
Inc.
is
the
second
largest
retailer
of
home
improvement
products
in
the
United
States.
At
January
29,
1999,
Lowe's
operated
484
stores
in
27
states,
principally
located
in
the
eastern
half
of
the
United
States.
Lowe's
current
prototype
store
has
a
115,000-square-foot
sales
floor
with
a
lawn
and
garden
center
comprising
approximately
35,000
additional
square
feet.
Lowe's
serves
both
retail
and
commercial
business
customers,
providing
a
wide
selection
of
high
quality,
nationally
advertised
brand
name
merchandise.
A
typical
Lowe's
home
improvement
warehouse
stocks
more
than
40,000
items
ranging
from
lumber
and
tools
to
appliances
and
home
decorations,
as
well
as
additional
items
available
through
its
special
order
system.
Lowe's
also
offers
specific
services
such
as
installation,
delivery,
loading,
assembly,
free
how-to
clinics,
wood
and
glass
cutting,
free
kitchen
design
and
a
project
desk
to
assist
Lowe's
customers
in
planning
their
home
improvement
tasks. | | Financial
Summary | | Lowe's
Companies
Inc.
is
a
retailer
serving
the
do-it-yourself
home
improvement,
home
decor,
and
home
construction
markets.
LOW
operates
484
stores
located
in
24
states
predominantly
in
the
eastern
half
of
the
U.S.
For
the
nine
months
ended
10/29/99,
net
sales
increased
19%
to
$12.12
billion.
Net
income
increased
30%
to
$523.9
million.
Results
benefited
from
an
increase
in
comparable
store
sales,
new
store
openings
and
favorable
changes
in
the
product
mix. | | | | FY1999 Pay | |
| Robert Tillman, 55 Chairman,
Pres, CEO | $2.1M | Thomas Whiddon, 46 Exec.
VP and CFO | 927K | Larry Stone, 47 Exec.
VP and COO | 1.1M | Dale Pond, 53 Exec.
VP of Merchandising and Marketing | 790K | William Warden, Jr., 46 Exec.
VP and CAO | 951K | | Dollar amounts are as of 29-Jan-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
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