Gregory Bridgeford, executive vice president of businessdevelopment with Mooresville, NC-based Lowe's, says the chain ispositioned to continue gaining market share in the highlyfragmented industry. "While a pullback in the pace of our expansionis appropriate given the pressures in many markets, we continue tosee opportunity for new store growth in the years ahead,"Bridgeford said in prepared remarks Wednesday for the company'sannual conference in Charlotte with analysts and investors.

Robert Niblock, Lowe's chairman and CEO, notes that the companyis trying to prudently manage expenses while looking for ways todrive efficiencies. "I am confident our heightened focus on thefundamentals, along with our ongoing investments, will continue toenable us to capitalize on opportunities both today and when theenvironment improves," Niblock says.

Lowe's is scheduled to release financial results Nov. 17 for itsfiscal third quarter, which ends Oct. 31. Company executives toldanalysts they expect comparable store sales to decline as much as7% this year, with no more than 1% growth in 2009.