Lowe's extends contract with track through 2009

CONCORD, N.C. -- Lowe's Companies Inc. will continue as title sponsor of Lowe's Motor Speedway in 2009, executives from both companies announced Tuesday.

The home improvement retailer, based in Mooresville, N.C., obtained naming rights for the track, formerly known as Charlotte Motor Speedway, in 1999. Lowe's will retain naming rights at the superspeedway as well as marketing exclusivity in the home improvement category through a one-year contract extension.

With fiscal year 2007 sales of $48.3 billion, Lowe's Companies Inc. serves approximately 14 million customers a week at more than 1,600 home improvement stores in the United States and Canada. Founded in 1946, Lowe's is the second-largest home improvement retailer in the world.