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

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

Nov 21, 2014: Electrolux: new U.S. fridge efficiency requirements are more complex than anticipated

Nov 21, 2014: Whirlpool brand launches Perceptions of Care video

Nov 21, 2014: Hon Hai 3Q profit $1 billion

Nov 21, 2014: Environmental Product Declarations for aluminum product types released

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

More Daily News>>

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

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

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 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