Fourth quarter doesn’t slow Lowe’s
February 23, 2007,
Mooresville, N.C. -- A fourth-quarter sales and net earnings decline did not prevent Lowe’s Companies from recording record earnings for fiscal 2006, as the big home improvement retailer said full-year net earnings grew 12.3% to $3.1 billion, while diluted earnings per share were up 15.0% to $1.99 for the year.
"We are encouraged by indications that our sales trends have bottomed. As a result, we believe our comparable store sales performance will gradually improve throughout 2007," said chairman and ceo Robert Niblock.