Lowe’s sees profit rise 10 percent during quarter

by

Published: August 16,2010

Tags: investing, retail, stocks and bonds

MOORESVILLE, N.C. — Home-improvement retailer Lowe’s Cos. says its profit rose 10 percent in the second quarter as sales edged up and the company kept costs in check.

Lowe’s says revenue from stores open at least a year rose 1.6 percent.

Chairman and CEO Robert Niblock says there won’t be consistent improvement in demand until the labor and housing markets improve.

The Mooresville, N.C., company says net income rose to $832 million, or 58 cents per share, in the quarter ended July 30. That’s up from $759 million, or 51 cents per share.

Revenue grew 4 percent to $14.36 billion.

Thomson Reuters says analysts expected a profit of 59 cents per share and $14.52 billion in revenue.

The company runs 1,724 stores in the U.S., Canada and Mexico.

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Still planning that summer vacation?

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

FOLLOW THE MBJ ON TWITTER

Top Posts & Pages

%d bloggers like this: