High on Lowe's: Home improvement retailer coming to Covina

Store to provide tools, supplies, jobs

By Kevin Smith, Staff Writer
The San Gabriel Valley Tribune
Posted: 06/01/2010 11:41:00 PM PDT

Construction of a new Lowes home and hardware store in is just beginning at the former site of Home Depot at 1348 N. Azusa Ave. in Covina June 1, 2010 (SGVN/Staff photo by Leo Jarzomb/SVCITY)

COVINA - Ninety-four thousand square feet of retail space, a garden center and more than 40,000 products, ranging from tools and building supplies to lighting and paint.

Not bad for one store.

But the new Lowe's home improvement center will also bring another much needed commodity to Covina - jobs. About 120 of them to be exact.

City officials and representatives from Lowe's will gather at 9 a.m. today to break ground on the new store at 1348 N. Azusa Ave., the site of a former Home Depot center.

Home Depot relocated about two years ago to a new site at the southwest corner of Azusa Avenue and San Bernardino Road.

"This is phenomenal for the city," said Robert Neiuber, Covina's director of community development and deputy executive director of redevelopment. "It's creating jobs and it will provide a lot of services for the community."

The new Lowe's store will be located in Covina Town Square and is expected to open by the first quarter of fiscal 2011.

"The center is already busy, but this will make it even better," Neiuber said.

Other anchor stores at the center include the AMC Covina 30 movie complex with an IMAX theater, Hometown Buffet, Outback Steakhouse, Michaels and Staples.

With more than 1,700 home improvement stores in the United States, Canada and Mexico, Lowe's is the second-largest home improvement retailer in the world.

But like nearly every retailer, the Mooresville, N.C.-based company has weathered a decline in profits amid the current economic downturn.

In fiscal 2009 Lowe's posted net income of $1.8 billion, down from $2.2 billion the previous fiscal year. But company spokeswoman Katie Cody said said the do-it-yourself home improvement chain is still expanding.

"We opened 62 stores last year and we're planning to open 40 to 45 more stores this year," she said.

Home foreclosures, job losses and other economic factors have eaten heavily into the home- improvement market over the past two years.

But Cody said people still want to maintain and fix up their homes.

"As far as remodeling, we're seeing consumers reordering their priorities," she said. "They're being more pragmatic all around, and as a result they are increasing their investment in home-improvement projects. The affinity for the home remains strong."

The new store's 22,200-square- foot garden center will display a wide selection of flowers, bushes, trees and garden supplies tailored to the California climate and lifestyle.

Lowe's Companies, Inc. is a Fortune 50 company that serves approximately 15 million customers a week.

"Lowe's and Covina are a great fit," Covina Mayor Peggy Delach said. "The quality products and professional services Lowe's provides are benefits our residents want and deserve."

kevin.smith@sgvn.com

626 962-8811, Ext. 2701