Real Estate
As of May 4, 2018, Lowe's operated 2,154 stores across all 50 states, Canada, and Mexico, including 245 RONA stores in Canada.
During fiscal 2017, the company opened 23 net new stores (4 internationally). In the first quarter of fiscal 2018, the company added 2 net stores. For fiscal 2018, the company expects to open 10 new stores.
As of year-end, approximately 79% of stores were owned, including stores on leased land, with the remainder being leased. Lowe's stores average approximately 112,000 square feet of retail selling space, plus approximately 32,000 square feet of outdoor garden center selling space, while Orchard stores average approximately 37,000 square feet of selling space.
| TTM | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Stores | 2,154 | 2,152 | 2,129 | 1,857 | 1,840 | 1,832 |
| Store growth | 0.8% | 1.1% | 14.6% | 0.9% | 0.4% | 4.4% |
| Total gross square feet (M) | 215,100 | 214,900 | 213,400 | 202,100 | 200,900 | 200,000 |
| Total gross square feet growth | 0.6% | 0.7% | 5.6% | 0.6% | 0.5% | 1.3% |
| Avg store gross sq ft | 99,900 | 99,900 | 100,200 | 108,800 | 109,200 | 109,200 |
| Avg store gross sq ft growth | -0.2% | -0.4% | -7.9% | -0.3% | 0.0% | -3.0% |
Notes:Square footage excludes outside garden area, which measures approximately 32,000 square foot per store