American Lowe’s increased quarterly profit by 6%

Lowe’s, which owns the second largest chain of household goods stores in the United States, reported the results of the first fiscal quarter ended May 3. For the year, the net profit of the American company grew by 5.9% to 1.046 billion dollars. Earnings per share amounted to 1 dollar 31 cents, an increase from the figure of 1 dollar 19 cents per share in the previous year. At the same time, the adjusted earnings were 1 dollar 22 cents per share, being lower than economists' forecast of 1 dollar 33 cents per share. Revenues amounted to 17.7 billion dollars, an increase of 2.2% over the year. During the earnings period, the company recorded a growth in comparable sales of 3.5%. Since the beginning of the year, Lowe’s capitalization has grown by 20.3% to $88.43 billion.

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