Lowe's net income rises
Home improvement retailers are seeing signs of life as housing starts to improve.
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.
Copyright © 2014 Microsoft. All rights reserved.
- Precious metals began pit trade in the red but rallied sharply into positive territory moments after equity markets opened.
- June gold brushed a session low of $1268.50 per ounce in early morning action and popped to a session high of $1299.00 per ounce. It then consolidated near the $1290.00 per ounce level and settled with a 0.5% gain at $1290.80 per ounce.
- May silver traded as low as $18.98 per ounce in early morning pit trade and rallied to a session ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
VIDEO ON MSN MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'