Real Estate
As of May 5, 2017, Lowe's operated 2,137 stores across all 50 states, Canada, and Mexico, including 246 RONA stores in Canada.
During fiscal 2016, the company opened 30 new stores, and on May 20, 2016, company aqcuired 242 stores from one of Canada's largest home improvement retailers, RONA. The company added 8 net new stores in the first quarter of 2017. For fiscal 2017, the company expects to open 35 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 109,000 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 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|
| Stores | 2,137 | 2,129 | 1,857 | 1,840 | 1,832 | 1,754 |
| Store growth | 14.9% | 14.6% | 0.9% | 0.4% | 4.4% | 0.5% |
| Total gross square feet (M) | 213,800 | 213,400 | 202,100 | 200,900 | 200,000 | 197,400 |
| Total gross square feet growth | 5.7% | 5.6% | 0.6% | 0.5% | 1.3% | 0.5% |
| Avg store gross sq ft | 100,000 | 100,200 | 108,800 | 109,200 | 109,200 | 112,500 |
| Avg store gross sq ft growth | -8.0% | -7.9% | -0.3% | 0.0% | -3.0% | -0.1% |
Notes:Square footage excludes outside garden area, which measures approximately 32,000 square foot per store