Lowe's Shows Improvement
Jenny York -- Home Textiles Today, December 31, 2012
MOORESVILLE, N.C. - Lowe's third quarter comps were positive in 12 out of 14 product categories for the store, including home fashions, and overall sales beat Wall Street's estimates.
Net earnings for the quarter ended Nov. 2 jumped 76.0% to $396 million, or 35 cents per share. Sales rose 1.9% to $12.1 billion. Comps were up 1.8% on a consolidated basis and up 1.8% for the U.S.
Year-to-date net earnings rose 10.1% to $1.67 billion, or $1.42 per share. Sales increased 2.3% to $39.5 billion. Comps were up 1.3% on a consolidated basis and 1.4% for the U.S.
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