Lowe's Reports Higher Earnings, Sales in Q4
Mooresville, NC, Feb. 26, 2014 -- Home improvement retailer Lowe's reported net earnings of $306 million for the fourth quarter, a 6.3% increase over the same period a year ago.
Earnings per share increased 11.5% to $0.29 from $0.26 in the fourth quarter of 2012.
For the year, net earnings increased 16.7% to $2.3 billion and earnings per share increased 26.6% to $2.14.
Sales for the fourth quarter increased 5.6% to $11.7 billion from $11.0 billion in the fourth quarter of 2012, and comparable sales increased 3.9%.
For the year, sales were $53.4 billion, a 5.7% increase over fiscal year 2012, and comparable sales increased 4.8%.
Lowe's operate 1,832 home improvement and hardware stores in the U.S., Canada and Mexico representing 200.1 million square feet of retail selling space.
"During the quarter, we delivered solid performance in core home improvement categories, balancing softer sales of seasonal gifts and holiday decorations," said CEO Robert Niblock.