Lowe's (NYSE:LOW) today announced it turned $322 million, or 26 cents per share for the fiscal quarter ended on February 1st, up from $285 million, or 21 cents per share in the same period last year. Analysts had estimated earnings of 24 cents per share. Revenue increased to $11.63 billion from $10.48 billion.
For the full year, earnings fell 9 percent to $1.84 billion, or $1.43 per share, from $2.01 billion, or $1.42 per share. Annual revenue, however, increased 3 percent to $50.21 billion from $48.82 billion. The company expects fiscal 2012 earnings between $1.75 to $1.85 per share with revenue expected to rise 1 percent to 2 percent.
Shares are higher by 1.8 percent.
Just last week, rival home improvement retailer Home Depot (NYSE:HD) announced that sales at U.S. stores increased by three percent.
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