Lowes Companies, Inc. (NYSE:LOW) has released the financial results for the first quarter period ended April 30, 2010. The financial report showed net earnings of $489 million, showing a 2.7% increase over the year ago period. The company’s diluted earnings per share also increased by 6.3% to $0.34 from $0.32 for the first quarter of 2009. The company’s sales for the quarter were also reported to have increased by 4.7% to $12.4 billion, $11.8 million over the first quarter of 2009. It’s comparable store sales for the quarter also increased by 2.4%.
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Lowe’s Companies, Inc. (Lowe’s) is a home improvement retailer. As of January 29, 2010, the Company operated 1,710 stores, consisted of 1,694 stores across 50 United States and 16 stores in Canada. Its 1,710 stores represent approximately 193 million square feet of retail selling space. The Company serves homeowners, renters and commercial business customers. Homeowners and renters primarily consist of do-it-yourself (DIY) customers and do-it-for-me (DIFM) customers who utilize its installed sales programs, as well as others buying for personal and family use. Commercial business customers include those who work in the construction, repair/remodel, commercial and residential property management, or business maintenance professions. During the fiscal year ended January 29, 2010 (fiscal 2009), it opened 62 stores, including five Canadian stores.
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