Lowe's: Sales grow, earnings explode

Lowe’s ended the third quarter to 1 November 2002 with sales of US $ 6.41 bn (€ 6.37 bn). This amounts to a 17.6 per cent increase over the same period a year ago, and 4.1 per cent in comparable terms. In the first nine months of the current fiscal year sales added up to US $ 20.37 bn (€ 20.24 bn). They are 20.9 per cent above the 2001 performance target. Comparable store sales increased by 6.1 per cent. The company’s net earnings have experienced a virtual explosion, exceeding the previous year’s result in the third quarter by 35.4 per cent, and in the first nine months by 43.1 per cent for a total of US $ 1.15 bn (€ 1.14 bn).