Lowe’s to open 25 new stores in Canadian push

MOORESVILLE, N.C. — Lowe’s has announced a plan for strategic growth amid the U.S. economic recovery, including expansion in Canada and Australia. In addition to adding “high-return stores” in underserved U.S. markets, including two new stores in Manhattan in late 2015 – the company wants to nearly double its Canadian presence with 25 new stores over three years. In Australia, Lowe’s is looking to expand its Masters joint venture with Woolworths, opening 30 new Masters Stores by 2017.

Despite the planned growth, the company continued to project a 4.5-5% hike in sales for the coming fiscal year.