As part of the CapEx program, Lowe's will continue to expand self check-out, which is now in more than 150 stores, to an additional 300 locations. Self check-out, according to Niblock, enhances convenience for customers. Currently, Lowe's operates 1,250 stores in 49 states.During the shareholders' meeting, Niblock reassured investors that he remains confident in the outlook for 2006 and beyond, adding that strong employment and income growth will support continued home improvement spending.
Additionally, shareholders re-elected several board members including: Peter C. Browning, Marshall O. Larsen, Stephen F. Page and O. Temple Sloan, Jr. The board is rounded out by: Leonard L. Berry, Paul Fulton, Dawn E. Hudson, Robert A. Ingram, Robert L. Johnson, Richard K. Lochridge and Niblock.
Shareholders also approved annual and long-term incentive plans and amended the company's articles of incorporation to set the minimum number of directors at three among other changes related to the company's governance.
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