Sales decline at Lowe’s

Lowe’s announced net earnings of $ 461 mio for the first quarter (to 29 April 2011). This result is the equivalent of a 5.7 per cent decline in comparison with the same period last year. Compared with 2010, sales declined by 1.6 per cent to $ 12.2 bn. Lowe’s had 1 751 stores in operation in the USA, Canada and Mexico at the end of the first quarter. The company expects sales to increase by approximately four per cent in the second quarter.