Net income rose to $225.3 million, or 58 cents a share, from $187.1 million, or 49 cents, a year earlier, Lowe's said. Sales in the quarter ended May 4 rose 18% to $5.28 billion, helped by new stores and an extra week in the quarter.
The company sold more flooring, plumbing fixtures and electrical supplies, which generate higher profit than other products, analysts said.
Report Abusive Comment