Lowe's Net Jumps 26.5 Percent in Fourth Quarter
February 22, 2010,
MOORESVILLE, N.C.-Fourth-quarter net income for Lowe's registered at $205 million, 26.5 percent ahead of last year's fourth-quarter profit.
Net sales edged up 1.8 percent to $10.2 billion in the quarter, and gross margin improved by 122 basis points. These items helped offset a 4 percent gain in total expenses. For the full fiscal year, Lowe's posted a drop of 18.8 percent in net income, to $1.78 billion; and a decline of 2.1 percent in net sales to $47.2 billion.