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Lowe's Reports 37 Percent Q4 Profit02-27-06 | News
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Lowe’s Reports 37 Percent Profit Increase



MOORESVILLE, N.C. ?EUR??,,????'??? Lowe?EUR??,,????'???s Companies, Inc., the world’s second largest home improvement retailer, reported Monday a 37 percent fourth-quarter profit on earnings of $695 million.

Fourth-quarter sales increased 26.4 percent to $10.8 billion, up from $8.55 billion for the 13-week period ended January 28, 2005, according to the company.

?EUR??,,????'??Our strong fourth quarter and fiscal year results represent a focus on execution and a culture of customer service that solidifies Lowe’s competitive position across the country,” Robert A. Niblock, Lowe’s chairman, president and CEO, said. “Amidst the challenges of a weather-affected 2005 spring selling season and the devastation caused by the most active hurricane season on record, we were ready to serve customers and provide products, services and solutions to meet their home improvement needs.

During the quarter, Lowe’s opened 63 new stores and reopened one store temporarily closed as a result of hurricane Katrina. As of February 3, 2006, Lowe’s operated 1,234 stores in 49 states representing 140.1 million square feet of retail selling space, a 13.2 percent increase over last year.

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