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Lowe's recorded sales 3.7 per cent down on the same period a year earlier; sales for the full year rose by 8.5 per cent
Lowe's recorded sales of US $ 10.4 bn (€ 7.9 bn) in the fourth quarter. This amounts to a fall of 3.5 per cent (5.3 per cent like-for-like) on the same period a year earlier, which comprised 14 weeks rather than this year's 13. After adjustment to make the figures comparable, Lowe's announces a sales increase of around 5 per cent for the fourth quarter. Profit fell by 11.5 per cent to US $ 613 mio (€ 464 mio).
During the full financial year to 2 February 2007, Lowe's increased sales by 8.5 per cent to US $ 46.9 bn (€ 35.5 bn). Once adjusted against the previous year, with 53 weeks instead of 52, Lowe's is assuming sales growth of around 10 per cent. Profit in 2006 was up by 12.3 per cent to US $ 3.1 bn (€ 2.4 bn). Lowe's increased its total number of stores by 151 to 1 385 in the course of the full financial year, and retail space grew by 12.1 per cent to 14.6 mio m².
During the full financial year to 2 February 2007, Lowe's increased sales by 8.5 per cent to US $ 46.9 bn (€ 35.5 bn). Once adjusted against the previous year, with 53 weeks instead of 52, Lowe's is assuming sales growth of around 10 per cent. Profit in 2006 was up by 12.3 per cent to US $ 3.1 bn (€ 2.4 bn). Lowe's increased its total number of stores by 151 to 1 385 in the course of the full financial year, and retail space grew by 12.1 per cent to 14.6 mio m².
