MOORESVILLE, NC - Lowe's sales jumped 13 percent, as the home improvement center did an about-face in its fourth quarter; net earnings rose 11 percent for the quarter to $11.6 billion. For the fiscal year ended February 3, 2012, net earnings decreased 8.5 percent to $1.8 billion, while sales rose 2.9 percent to $50.6 billion.
Following three quarters of punctuated by store closures, Lowe's (NYSE: LOW) earnings gave an indication that remodeling and construction are improving, and that its strategy is working. A major sales channel for cabinets, vanities, closets, moulding, millwork, doors and windows, Lowe's sales trail Home Depot, which last week reported over $70 billion in revenue for the year.
Home Depot Net Income Jumps 31.9% Q4 2011
By Bill Esler | Updated: 02/21/2012 10:46:00 PM
Home Depot earned net income of $774 million, up 31.9 percent, on Q4 2011 sales of $16 billion, up 6.9 percent. Results were boosted as warm weather extended home improvement season in some areas.
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