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Lowe's Companies, Inc., the home improvement retailer, reported net earnings of U.S. $508 million for the quarter ended Jan. 28, 2005, a 26.7-percent increase over the same period in 2004. Diluted earnings per share increased 30.6 percent to $0.64 from $0.49 in the fourth quarter of 2003.
For the fiscal year ended Jan. 28, 2005, net earnings grew 18.0 percent to $2.18 billion, while diluted earnings per share increased 18.9 percent to $2.71.
Sales for the quarter increased 17.9 percent to $8.55 billion, up from $7.25 billion in the fourth quarter of 2003. Comparable store sales for the fourth quarter increased 6.9 percent.
For the year ended Jan. 28, 2005, sales increased 18.2 percent to $36.5 billion. Comparable store sales increased 6.6 percent for fiscal 2004.
During the quarter, Lowe's opened 56 new stores.
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