UPDATE 1-Lowe’s reaffirms view, to tell of new growth plans

* Still sees FY EPS $1.37-$1.40 vs Street View $1.41

* Still sees FY same-store sales up 1-2 pct

* CEO says store experience not enough for consumers

NEW YORK, Nov 30 (BestGrowthStock) – Home improvement chain Lowe’s
Cos (LOW.N: ) reiterated its sales and profit outlook for its
current fiscal 2010 fiscal year, and it said it would announce
new strategies to serve what it called more exacting
consumers.

In a statement issued ahead of Lowe’s analyst and investor
conference, Chief Executive Robert Niblock said the company has
contended with an uncertain housing environment and a
“declining industry.”

Niblock hinted that Lowe’s would announce strategies to
build its business beyond its core big box stores at its
investor and analyst meeting in Mooresville, North Carolina.

“In no way are we stepping away from the retail operations
that are the foundation of our success, but we recognize that
the store experience alone is not enough for customers today,”
Niblock said.

Lowe’s did not provide any details about its plans to
increase sales but said executives would discuss them at the
meeting.

Lowe’s also said it is still forecasting earnings per share
of between $1.37 and $1.40 for the fiscal year ending Jan. 28,
2011, reaffirming its outlook given earlier this month. That
compares with Wall Street forecasts of $1.41 per share.

It also still expects sales at stores open at least a year
to rise between 1 and 2 percent. It plans to open 42 new stores
in all.
(Reporting by Phil Wahba, editing by Gerald E. McCormick)

UPDATE 1-Lowe’s reaffirms view, to tell of new growth plans