Lowe's chair hopeful for housing's future

CHARLOTTE, N.C. Speaking at Lowe's annual shareholders meeting, chairman and ceo Robert Niblock told investors that the company is maintaining its high standards for stores, diligently managing expenses and continuing its keen focus on customer service, despite the tough economic environment.

"In a tough environment, great companies look for opportunities to strengthen their business, and that is exactly what Lowe's is doing," explained Niblock. "We're committed to taking care of our customers and pursuing profitable, long-term market share gains while prudently managing the business to provide the best long-term return for shareholders.

Niblock went on to say that the long-term demographic trends for the home improvement industry remain favorable due to population growth and the aging of more than 130 million existing homes in the U.S.