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Lowe’s Announces First Quarter Results

Lowe’s Companies, Inc. today reported net earnings of $673 million for the quarter ending May 1, a 7.8 percent increase over the same period a year ago.

Sales for the first quarter increased 5.4 percent to $14.1 billion, up from $13.4 billion in the first quarter of 2014. Comparable sales for the quarter increased 5.2 percent.

“I am pleased that we executed well and delivered another strong quarter,” says Robert A. Niblock, Lowe’s chairman, president and CEO.  “We generated comparable sales growth in all regions of the country and across all product categories, driving strong earnings per share growth.”

Delivering on its commitment to return excess cash to shareholders, the North Carolina company repurchased $1 billion of stock under its share repurchase program and paid $222 million in dividends in the first quarter.

As of May 1, Lowe’s operated 1,843 home improvement and hardware stores in the U.S., Canada and Mexico representing 201.2 million square feet of retail selling space.

For more information, click here.

About Renee Changnon

Renee Changnon is the retail outreach coordinator for NRHA. She meets with retailers in their stores and at industry events and introduces them to the services NRHA provides. Renee previously worked as a member of the NRHA communications team. She earned a degree in visual journalism from Illinois State University, where she served as the features editor for the school newspaper. After college, she implemented marketing and promotions initiatives at Jimmy John’s franchise locations across the country. She enjoys exploring books with her book club, Netflix marathons and hosting goat yoga at her apartment complex. Renee Changnon 317-275-9442 rchangnon@nrha.org

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