BY ROY ALBERT ANDRADE, K1LLER, Inc.
MOORESVILLE, NORTH CAROLINA - Lowe's Companies, Inc. (NYSE: LOW) this morning reported net earnings of $554 million, and diluted earnings per share of $0.67 for the quarter ended Feb. 2, 2018.
"We achieved comparable sales growth that exceeded our expectations driven by compelling consumer messaging, strong holiday event performance, and our integrated omni-channel customer experiences," commented Robert A. Niblock, Lowe's chairman, president and CEO. "As we enter 2018, we are working diligently to improve execution with a focus on conversion, gross margin, and inventory management. Given the rapidly evolving competitive landscape, we are also accelerating our strategic investments leveraging the benefits of tax reform. We continue to build the capabilities required to deliver simple and seamless experiences and strengthen our position as the omni-channel project authority."
As of Feb. 2, 2018, Lowe's operated 2,152 home improvement and hardware stores in the United States, Canada and Mexico representing 214.9 million square feet of retail selling space.
"I would like to express my appreciation to our employees for their unwavering commitment to serving customers and the communities in which they live and work," Niblock added.
Shawn W. Anderson