|Lowe's 1Q profit rises, chilly spring hurts sales||| Print ||
|Written by Associated Press|
|Wednesday, 22 May 2013 06:31|
MOORESVILLE, N.C. (AP) — Lowe's first-quarter net income rose almost 3 percent, even as a wet and cool spring dampened sales of gardening products.
Spring is the biggest season for home improvement retailers. While the weather was chilly in the quarter, the improving housing market has helped such businesses.
Lowe's Cos. earned $540 million, or 49 cents per share, for the period ended May 3. That compares with $527 million, or 43 cents per share, a year ago.
Analysts expected earnings of 51 cents per share for the world's second-biggest home improvement retailer.
Revenue for the Mooresville, N.C., company dipped to $13.09 billion from $13.15 billion. Wall Street predicted $13.45 billion.
Lowe's maintained its fiscal 2013 forecasts Wednesday.
The chain's quarterly report comes one day after Home Depot Inc.'s first-quarter results topped Wall Street's view and it raised its full-year outlook.
Copyright 2013 The Associated Press.
Front Page Stories
|Livestock, rides and fair food ready
07/28/2014 | BILL RYAN, Sentinel Farm Editor
The gates of the 2014 Wood County Fair opened this morning as the annual gala at the corner of Poe a [ ... ]
|Market Square already bustling with business|
07/26/2014 | MARIE THOMAS BAIRD Sentinel Education Editor
Market Square in BG along Wooster Street. (J.D. Pooley/Sentinel-Tribune) Market S [ ... ]