Double-digit increase for Lowe's

Lowe's achieved sales of US $ 13.4 bn (€ 10.4 bn) in the second quarter. This amounts to an increase of 12.2 per cent over the same period last year. Sales grew by 3.3 per cent in like-for-like terms. Net earnings were up by 11.4 per cent to US $ 935 mio (€ 726 mio). The second quarter saw the opening of 24 new DIY stores, and retail area expansion of 12.4 per cent to a total of 13.5 mio m². The company had 1 281 stores in operation at the end of the quarter. For the first six months Lowe's reports sales up by 15.9 per cent to US $ 25.3 bn (€ 19.7 bn). Same-store sales increased by 4.4 per cent over the first six months of 2005.
The company has announced the opening of 48 new stores and a 13 per cent rise in retail area for the third quarter. An increase of 11 per cent is expected in terms of sales.