Lowe's Revenue Jumps 19.3%

Lowe's, the No. 2 U.S. home improvement retailer, reported a 19.3 percent rise in holiday quarter revenue on Wednesday, boosted by a strong U.S. housing market. Continue Reading Below Sales at Lowe's stores open more than 13 months rose 5.1 percent in the...

Lowe's Revenue Jumps 19.3%

Lowe's, the No. 2 U.S. home improvement retailer, reported a 19.3 percent rise in holiday quarter revenue on Wednesday, boosted by a strong U.S. housing market.

Continue Reading Below

Sales at Lowe's stores open more than 13 months rose 5.1 percent in the fourth quarter ended Feb. 3, above the average estimate of a rise of 2.2 percent, according to analysts polled by research firm Consensus Metrix.

The Mooresville, North Carolina-based company's net earnings increased to $663 million, or 74 cents per share, in the quarter, from $11 million, or 1 cent per share, a year earlier.

Net sales rose to $15.78 billion from $13.24 billion.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Sriraj Kalluvila)

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