Lowe’s reconfirms expectations

Lowe’s, the American home improvement chain, has reconfirmed its sales and earnings expectations for the fourth quarter and the entire fiscal year (to 31 January 2003). Based on the current figures, the company reconfirms its guidance of 16 to 17 per cent sales growth overall, including a two to four per cent increase in comparable store sales. For the year as a whole, Lowe’s expects total sales to increase by approximately 20 per cent. Earnings per share are expected to increase by 37 per cent.