Lowe’s increases sales

Lowe’s increased its sales in the third quarter (ended 28 October) of fiscal 2011/2012 by 2.3 per cent to US$ 11.852 bn compared with the same quarter in 2010. Comparable store sales by the number two in the US and global DIY business grew by 0.7 per cent, but net earnings declined by 44.3 per cent to US$ 225 mio.In the first three quarters of the fiscal year, the company increased its sales by 0.6 per cent to US$ 38.579 bn. Like-for-like sales fell by 1.0 per cent, however. Following eight new openings in the quarter, Lowe’s operated 1 744 stores in the USA, Canada and Mexico as of 28 October.