Appliance retailer Lowe's Companies, Inc. announced plans to expand into Canada. The company said it expects to open its first Canadian stores in Toronto in 2007.
"Building on Lowe's home improvement expertise and passion for outstanding customer service, extending our business into Canada is not only a logical expansion of our growth strategy, it's a tremendous opportunity to serve a vibrant, growing home improvement market," explained Robert A. Niblock, Lowe's chairman, president, and CEO. "Canada is a unique market, and we believe the Lowe's shopping experience will be attractive for Canadian homeowners and commercial customers."
Initially, Lowe's plans to open six to 10 stores in the Toronto market in 2007, creating approximately 1,700 new Canadian jobs. Long-term plans include the potential for as many as 100 Lowe's stores in Canada as the company continues to evaluate additional opportunities for future expansion.
Lowe's will establish an office in the Toronto area later this year, which will be led by Doug Robinson, newly named president of the Canada operation. Over the next several months, the company said Mr. Robinson will build a team to manage the company's entry into Canada and ongoing operations.
Mr. Robinson joined Lowe's in 2003 with more than 20 years experience in the home improvement industry. Most recently, Robinson served as vice president of Special Projects. Prior to joining the company, he was president and CEO of ARXX Building Products in Ontario, and previously served as president and CEO of Beaver Lumber Company headquartered in Toronto.
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