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sold to Lowe's?' We have had other customers tell us, 'This is the last time that I'm shopping you because you sold out.' It's become a huge distraction."

Although he does not know how the rumor got started, Orem confirmed Lowe's has scouted sites in Eugene and Springfield for a store.

Lowe's spokesperson Suzanne McCoy said Oregon is a state the chain sees room for growth in.

Nardelli Vows Sales Will Rise

At his first shareholders meeting as Home Depot president and c.e.o., Robert Nardelli said he believes tax rebates and lower interest rates will encourage mortgage refinancing, increasing home-improvement spending this year.

Nardelli said the chain has not reached saturation in North America and asserted that he will more than double Depot's annual sales to $100 billion by adding more stores and "raising the roof' on existing sales.

The former GE executive maintained that while consumers have not yet benefited from Federal Reserve rate reductions, he believes the cuts eventually will create a "huge influx back into the home improvement" sector. He said the extent of the sales recovery will depend on how consumers choose to spend any discretionary income they receive later in the year.

To commemorate the opening of its 100th Texas store, Home Depot unfurled a 25'x30'orange apron on the front of the new 130,000-sq. ft. unit in The Colony, Tx., just north of Dallas.