By: James R. Fiedler, The Associated PressThe makers of Lowes’ turf shoes are launching a new retail store in the New York City area, where they hope to gain customers from a growing retail landscape dominated by big-box retailers.
The company said Tuesday that it has signed a lease at the corner of Fifth and Broadway avenues, which it opened in 2016, for a $2 million retail space with a large display, seating area and a retail front.
The store will be called Lowe’s Urban Grocers and the space is slated to open in 2018.
The move is a response to a new wave of retail expansion in the city, with some high-end chains like Zara and Dolce & Gabbana offering retail at home and online, and others including Macy’s and Forever 21.
Lowes said the company plans to build out its online store and the existing store, with the goal of opening three new locations in the next five years.
The new store is the company’s first of its kind in the U.S.
Lowes is also opening its own grocery store in Seattle and is planning to open another store in New York’s Upper East Side.