Lowe's Profit Stronger in 4Q
Home & Textiles Today Staff -- Home Textiles Today, March 31, 2012
Lowe's Cos. Inc. found momentum in the fourth quarter, although its fiscal-year profit fell.
For the quarter ended Feb. 3, net income climbed 13.0% to $322 million, or 26 cents per share. Sales increased 11.0% to $11.6 billion, and comps grew 3.4%. U.S. comps rose 3.5%.
For the full fiscal year, net income dropped 8.5% to $1.8 billion, or $1.43 per share. Sales rose 2.9% to $50.2 billion, while comps were essentially flat.
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