Lowe's Net Falls 29.5 Percent in Third Quarter
November 16, 2009,
MOORESVILLE, N.C.--Third-quarter net income for Lowe's finished at $344 million, 29.5 percent down from the third quarter of last year.
The home-improvement retailer's net sales for the quarter totaled $11.4 billion, a 3 percent decline from a year ago, which included a same-store sales decrease of 7.5 percent. In addition, total expenses rose 4.8 percent, including a 5.4 percent increase in selling, general and administrative expenses.