Lowe’s held grand opening celebrations at three Canadian stores, marking the company’s entry into that country.
The second largest home improvement retailer in the United States opened stores in South Brampton, Brantford and Hamilton, Ontario – all suburbs of Toronto. The company will open three additional stores on Feb. 1, with a seventh location planned to open shortly thereafter. Fifteen further sites are in the works in Canada.
Don Stallings, president of Lowe’s Canada, said the stores aim to “meet the unique home improvement needs of Canadians.”
"Today is about delivering on the promise we've made to Canadian customers,” he said in a statement. Lowe’s plans as many as 100 stores in Canada over time, with an average investment per store of more than $18.7 million Canadian dollars ($18.5 million USD). The company opened its Canadian headquarters in Toronto in 2006 and now has more than 700 Canadian employees in the office and its stores, the company said.
Lowe’s has stores in 49 U.S. states, with 2006 sales of $46.9 billion.