By Denny Jacob
Lowe's stock gained, after the home-improvement retailer posted better-than-expected profit and said same-store sales rose for the first time in nearly two years.
Shares advanced about 4% ahead of the market open. Some key items:
-- Profit totaled $1.13 billion for the three months through January.
-- Stripping out some one-time items, earnings were $1.93 a share. That beat the $1.84 expected by analysts polled by FactSet.
-- Sales fell less than expected, to $18.55 billion, and comparable sales rose 0.2%.
"We remain confident in the long-term strength of the home improvement industry," said Marvin Ellison, the company's chief executive.
A day earlier, investors had also reacted positively to results from Home Depot.
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(END) Dow Jones Newswires
February 26, 2025 07:29 ET (12:29 GMT)
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