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Retail briefs

Lowe's concentrates on metro markets

Sixty-five percent of the new stores opened by Lowe's in 2001 sat in metropolitan markets with populations of 500,000 people or more, and the Wilkesboro, NC-based home improvement chain plans to follow a similar percentage for this year's 123 new store openings. These markets, which last year included Danvers, MA, North Bergen, NJ, and Medford, NY, "provide higher initial sales volumes plus a dynamic and growing population that will continue to provide strong comps for years to come," said Robert Tillman, chairman, president and ceo.

Search is on for new Lillian Vernon ceo

Lillian Vernon, the founder and ceo of Lillian Vernon Corp., will relinquish the day-to-day operations of the company and has asked the board to launch a search for a new ceo. A formal search committee of the board has been named, and the new ceo will report to the board. Vernon, who founded the company in 1951, will remain chairman.

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