Stainmaster Promotion Moves Carpet at Lowe's

Mooresville, NC, Nov. 17, 2009--One of the few bright spots in Lowe's Cos. earnings report Monday was the increased sales of floor covering.

CEO Robert Niblock said overall traffic was nearly flat compared with last year's third quarter, but higher than it was in this year's second quarter. Average ticket size fell 7 percent. Stronger sellers included interior paint, appliances and flooring.

The firm saw increased carpet sales, driven by positive response to a $39 installation deal on Stainmaster carpet.

"When the right value is out there, we have seen consumers respond better than what we've seen in the past," Niblock said.

Profit in the quarter ended Oct. 30 fell 30 percent to was $344 million, or 23 cents per share, from $488 million, or 33 cents per share, in the same quarter last year.