Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Lowe's Reports Record Q4, FY Earnings
Feb 27, 2006
 Printable format
 Email this Article
 Search

Appliance retailer Lowe's Companies, Inc. reported net earnings of U.S. $695 million for the 14-week period ended Feb. 3, 2006, a 36.8 percent increase over the 13-week period ended Jan. 28, 2005. For fiscal 2005, net earnings grew 27.3 percent to $2.77 billion.

Sales for the 14-week period increased 26.4 percent to $10.8 billion, up from $8.55 billion for the 13-week period in the prior-year period. Comparable store sales for the fourth quarter increased 7.8 percent versus a comparable 14-week period. For the fiscal year ended Feb. 3, 2006, sales increased 18.6 percent to $43.2 billion. Comparable store sales increased 6.1 percent for fiscal 2005.

"Our strong fourth quarter and fiscal year results represent a focus on execution and a culture of customer service that solidifies Lowe's competitive position across the country," explained Robert A. Niblock, Lowe's chairman, president and CEO. "Amidst the challenges of a weather-affected 2005 spring selling season and the devastation caused by the most active hurricane season on record, we were ready to serve customers and provide products, services and solutions to meet their home improvement needs.

During the quarter, Lowe's opened 63 new stores and reopened one store temporarily closed as a result of hurricane Katrina. As of Feb. 3, 2006, Lowe's operated 1,234 stores in 49 states representing 140.1 million square feet of retail selling space, a 13.2-percent increase over last year.

In the first quarter of 2006, Lowe's expects sales to increase 19 percent to 20 percent with diluted earnings per share of $0.92 to $0.94. Second quarter 2006 sales are expected to increase 13 percent to 14 percent with diluted earnings per share of $1.22 to $1.25.

For the full fiscal year 2006, total sales are expected to increase approximately 13 percent to 14 percent and diluted earnings per share of $4.03 to $4.13 are expected for the fiscal year ending Feb. 2, 2007.

Back to Daily News

 

Daily News

...........................................................

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows