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Lowe’s Q2 profit up 10%; trims outlook
Mooresville, N.C. -- Lowe's second-quarter net income rose a better-than-expected 10%, helped by improving weather. But the chain lowered its full-year revenue outlook slightly, citing its year-to-date sales and prior assumptions for the second half.
For the three months ended Aug. 1, Lowe's Cos. earned $1.04 billion, up from $941 million in the prior year.
Revenue increased 6% to $16.6 billion, topping Wall Street's estimates.
Same-store sales were up 4.4%.
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T.J.Maxx to open five stores in Chicago area
Framingham, Mass. -- T.J.Maxx will be opening five stores in the Chicagoland area starting this week and through October.
"The opening of these five stores in the Chicagoland area marks a momentous occasion for our brand," Richard Sherr, president of T.J.Maxx, stated.
All five T.J.Maxx stores will occupy over 122,000 sq. ft. of retail space.