Lowe’s Companies, Inc., saw sales increases for the third quarter of 2015, and expects to end the fiscal year on a growth pattern.
In quarter three, the company’s sales grew to $14.4 billion, an increase of 5 percent over the same period a year ago. Comparable store sales for the U.S. home improvement business also increased 5 percent.
For the first nine months of the fiscal year, sales were $45.8 billion, up 4.9 percent over the year prior. Overall sales growth for the full year is expected to be approximately 5 percent above 2014.
“I am pleased that we delivered another solid quarter,” Robert A. Niblock, Lowe’s chairman, president and CEO, says. “Comparable sales growth was driven by gains in both transactions and average ticket, while our focus on productivity and profitability also allowed us to deliver strong earnings per share growth.”
As of Oct. 30, Lowe’s operated 1,849 home improvement stores in the U.S., Canada and Mexico, representing 201.6 million square feet of retail space.