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.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
February 26, 2025 07:29 ET (12:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.