Wednesday, February 26, 2014

Home improvement retailer Lowe's posts strong sales growth


Credit: Reuters/Fred Prouser


People load a roll of carpet into a vehicle at the Lowe's Home Improvement Warehouse in Burbank, California August 15, 2011.


The company said net income rose to $306 million, or 29 cents per share in the fourth quarter ended January 31 from $288 million, or 26 cents per share, a year earlier.


Sales rose 5.6 percent to $11.66 billion.


Lowe's also said its board has authorized an additional $5 billion share repurchase program.


(Reporting by Maria Ajit Thomas in Bangalore; Editing by Joyjeet Das)






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