"We have identified additional locations in Brantford, South Brampton and Toronto and have another nine locations approved through our real estate committee process," Robinson said. "We have begun the search for potential store employees with home improvement know-how and a passion for customer service."
Each store represents an average investment of $18.5 million US, and will employ up to 175 people. Lowe's has said that it plans to have up to 100 stores in Canada. As of August 4, 2006, Lowe's operated 1,281 stores in 49 US states.
The company is following chief rival Home Depot, which already has 144 stores in Canada. Home Depot, however, entered the country by acquiring Aikenhead's Home Improvement Warehouse in 1994.
The announcement comes on the heels of good second-quarter results for Lowe's. Sales were $13.4 billion, up 12.2% from the second quarter of 2005. Comparable store sales for the second quarter rose 3.3% compared with 2005. Earnings rose 11.4% to $935 million.
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