Lowe's net income rises

Home improvement retailers are seeing signs of life as housing starts to improve.

By MSNMoney partner Feb 23, 2011 8:55AM

The Associated Press


Lowe's (LOW) fourth-quarter net income rose 39% as homeowners took on more renovation projects in the slowly recovering economy.


The No. 2 home improvement retailer says net income rose to $285 million, or 21 cents per share, from $205 million, or 14 cents per share, a year ago. Analysts surveyed by FactSet expected 18 cents per share.


The Mooresville, N.C., company says revenue rose 3% to $10.48 billion. Analysts expected $10.44 billion.

Home improvement retailers are seeing signs of life from shoppers as the housing industry slowly improves and consumers slowly start to spend normally again after a slowdown during the recession.


Home Depot said Tuesday that its fourth-quarter net income rose 72%, while revenue rose 4% to $15.13 billion.


Copyright 2011 The Associated Press. All rights reserved.

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min
Sponsored by:

MARKET UPDATE

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes

[BRIEFING.COM] The stock market ended the Thursday session on a modestly lower note, but a late-morning rebound lifted the indices off their lows. The S&P 500 shed 0.2% with seven sectors ending in the red.

This morning, European equities and U.S. futures slumped around 6:00 ET after Ukraine's President Petro Poroshenko was quoted as saying Russian forces have invaded an area southeast of Donetsk. The news pressured the markets, but a brief uptick took place after a correction to ... More


Currencies

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Sponsored by:

VIDEO ON MSN MONEY