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Lowe’s Says Q4 Earnings Up 27%

By Alan Wolf -- TWICE, 3/7/2005

Mooresville, N.C. — Lowe’s, the second-largest home improvement chain and No. 2 majap merchant, said net earnings for its fiscal fourth quarter rose 26.7 percent to $508 million, thanks to new store openings and robust white-goods sales.

Net sales for the three month period ended Jan. 28 grew 17.9 percent to $8.6 billion, and same-store sales gained 6.9 percent.

For the full fiscal year, net earnings increased 18 percent to $2.2 billion; net sales spiked 18.2 percent to $36.5 billion, and same store sales grew 6.6 percent.

CEO Robert Niblock attributed the gains to strong sales of major appliances and building materials, as well as improvements in the company’s installation services model.

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