Fat profit for the first quarter

In the first quarter Lowe's, the number two worldwide, achieved a sales increase of 29.3 per cent over the same period last year for a total of US $ 11.92 bn (€ 9.30 bn). Growth amounted to 5.7 per cent in like-for-like terms. The company managed to increase net profit by 43.5 per cent to US $ 841 mio (€ 655.82 mio). The number of outlets rose to 1 258 with the addition of 24 new stores in the first quarter. Retail area was expanded by 12.9 per cent to 13.266 mio m². Lowe's has announced the opening of 24 more outlets and 12 per cent more retail space for the second quarter.