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Fourth Quarter Net Income at Lowe's Drops 33 Percent
Published: February 25, 2008
Mooresville, N.C.--Weaker sales caused fourth quarter net income at Mooresville, N.C.-based home improvement retailer Lowe's to fall 33 percent, Bloomberg reported Monday.
Net income was $408 million, or 28 cents a share, for the quarter ended Feb. 1. Last year, net income in the quarter was $613 million, or 40 cents a share.
Lowe's said that revenue at stores that have been open 13 months or more could drop 5 to 6 percent from now through January 2009.
