Lowe’s is pushing ahead with selective store growth, planning to open five new locations in 2026 despite wider contraction across the U.S. retail sector.
The first site is set to open in June in Port St. Lucie, Florida. The 94,000-square-foot store, which includes a 30,000-square-foot garden centre, will be the retailer’s second location in the city and its 133rd in the state. Around 100 associates are expected to staff the store.
The new location reflects Lowe’s continued investment in tech-enabled retail. Features include centralised selling desks, enhanced digital signage and QR codes that connect shoppers to tools such as style quizzes, budget calculators and 3D visualisers.
The store will also include redesigned kitchen and appliance showrooms — a format the company plans to roll out across parts of its existing estate.
Additional capabilities include self-service kiosks to streamline ordering and dedicated buy online, pick up in-store (BOPIS) zones to support omnichannel fulfilment.
Lowe’s expansion comes as the broader retail landscape faces significant contraction. Analysts at UBS recently projected that more than 40,000 U.S. stores could close over the next five years, with department stores and specialty retailers most exposed.
Against that backdrop, large-format retailers such as Walmart, Costco and Lowe’s are expected to capture share, supported by scale, pricing power and integrated omnichannel capabilities.
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While Lowe’s had previously guided for 10 to 15 store openings annually, the more measured rollout reflects a cautious approach amid ongoing softness in the home improvement sector.
The company is still targeting full-year sales growth of 7% to 9%, with comparable sales expected to range from flat to up 2%. In its most recent quarter, Lowe’s reported net sales growth of 10.9%, with comps up 1.3%.
At the same time, the retailer has taken cost actions to improve efficiency, including cutting around 600 corporate roles earlier this year.
The expansion signals Lowe’s intent to invest where it sees long-term demand, while modernising its store base to better integrate digital and physical retail.
In a market where many competitors are retrenching, targeted growth combined with operational discipline is positioning big-box players to consolidate share.
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