Rochester, NY 8/21/2009 10:35:55 PM
Lowe's Companies Inc., LOW - Lowe’s Temporarily Stop its Berea Plans
Lowe's Companies Inc.
Plans to bring Lowe’s to Berea have been put on hold indefinitely, according to Tom McCay, Berea’s business development director.
He broke the news Tuesday to the Berea City Council after hearing a news report that the retail chain would be putting a halt to 49 projects because of a decrease in sales.
The Wall-Street Journal reported Monday that second-quarter profits for Lowe’s declines by 19 percent with net income dropping to $759 million, or 51 cents a share to $20.47. Net income was $938 million, or 63 cents a share, at the end of last year’s second quarter, according to the report.
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