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Lowe's Reports Quarterly Earnings05-24-06 | News

Lowe?EUR??,,????'???s Reports Quarterly Earnings

MOORESVILLE, N.C. – Lowe’s Companies, Inc. the world’s second-largest home improvement retailer, today reported net earnings of $841 million for the quarter ended May 5, a 43.5 percent increase over the same period a year ago.

Sales for the quarter increased 20.3 percent to $11.92 billion, up from $9.91 billion in the first quarter of 2005. Comparable store sales for the first quarter increased 5.7 percent.

?EUR??,,????'??Industry-leading market share gains in appliances and outdoor power equipment are evidence of our compelling product offering and our success in meeting customers’ needs,?EUR??,,????'?? explained Robert A. Niblock, Lowe’s chairman, president and CEO.

During the quarter, Lowe’s opened 24 new stores. As of May 5, 2006, Lowe’s operated 1,258 stores in 49 states representing 142.8 million square feet of retail selling space, a 12.9 percent increase over last year.