Success for Lowe’s

For the second quarter Lowe’s has posted a net profit of US $ 467.1 mio. This amounts to an increase of 42 per cent over the same period last year. Turnover was up by 22 per cent to US $ 7.49 bn, and the like-for-like increase comes to 6.8 per cent. In the second quarter Lowe’s opened 22 new stores, thereby expanding the total retail area by 19 per cent. For the first six months the company announced growth of turnover to US $ 13.96 bn, which amounts to a 22.4 per cent increase (or 7.1 per cent like-for-like). In the first six months profit rose by 47 per cent over the same period in the previous year to US $ 812.9 mio.