Mooresville, N.C. -- Lowe’s Cos. reported Monday that profit for the quarter ended Oct. 29 rose 17% to $404 million, compared with net income of $344 million in the year-ago period.
The second-largest U.S. home-improvement retailer cited shrinking labor expense for the improvement.
Revenue rose 1.9% to $11.59 billion in the third quarter. Wall Street expected sales of $11.75 billion. Same-store sales edged up 0.2%.