(Reuters) - Lowe's Cos , the world's second-largest home improvement chain, reported higher-than-expected quarterly sales as a warm winter prompted many homeowners take up renovation projects that they normally take up only in the spring.
The results echoed those from larger rival Home Depot Inc
Shares of Lowe's were up 2.7 percent at $27.90 in trading before the market opened on Monday.
The company's sales rose 11 percent to $11.63 billion in the fourth quarter ended on February 3, well ahead of the analysts' average estimate of $11.34 billion, according to Thomson Reuters I/B/E/S. Sales at stores open at least a year rose 3.4 percent.
Net income rose to $322 million, or 26 cents a share, from $285 million, or 21 cents a share, a year earlier.
Excluding items, the company earned 24 cents a share, in line with the analysts' average estimate.
For the current fiscal year, Lowe's forecast earnings of $1.75 to $1.85 a share.
(Reporting by Dhanya Skariachan; Additional reporting by Ranjita Ganesan; Editing by Saumyadeb Chakrabarty and Lisa Von Ahn)
Relacionados
- La adquisición convertirá a GlobalCollect en el proveedor de servicios de pago líder de Latinoamérica
- Pinger, el principal proveedor de SMS gratuitos en Estados Unidos, crece con un servicio mundial
- COMUNICADO: Telefónica selecciona a Ceragon como proveedor estratégico global de microondas (1)
- COMUNICADO: Telefónica selecciona a Ceragon como proveedor estratégico global de microondas (y 2)
- Takara Bio Europe ofrece webinarios de formación PCR en tiempo real en colaboración con el proveedor líder internacional, TATAA Biocenter
