Lowe's Grew Sales & Earnings in Q3, Names Maltsbarger CDO

Mooresville, NC, November 21, 2017-Lowe’s Companies has reported net earnings of $872 million for Q3 2017, compared to net earnings of $379 million in Q3 2016.

Sales for the third quarter increased 6.5% to $16.8 billion from $15.7 billion in the third quarter of 2016, and comparable sales increased 5.7%. Hurricane-related sales in the quarter were approximately $200 million.

As of November 3, Lowe’s operated 2,144 home improvement and hardware stores in the United States, Canada and Mexico representing 214.2 million square feet of retail selling space.

The company also announced that Richard D. Maltsbarger, Lowe’s chief development officer and president, international, has been appointed chief operating officer, effective February 3, 2018, and will continue to report to Robert A. Niblock, chairman, president and CEO. Maltsbarger succeeds Rick D. Damron who plans to retire after 36 years with the company. Damron has served as chief operating officer since 2012.