Wilkesboro, NC, Dec. 18--Lowe's, which is adding about 60 stores in the greater New York area over the next several years, will spend $80 million to $100 million to add five stores and improve existing ones in northern New Jersey.
Lowe's, which currently has 14 stores in New Jersey, plans to build stores in Hackettstown, Rockaway, Union, East Brunswick and Jersey City as soon as it receives the appropriate state permits and approvals. It said the stores would create 1,000 jobs.
Lowe¹s, which has more than 800 stores in the U.S., is expanding to larger markets, intensifying competition with Home Depot. As of September, Home Depot, which has over 1,400 stores in the U.S., Canada and Mexico, had at least 75 stores in the New York region, with plans to add roughly 40 stores there over the next five years.
