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Lowe’s Q4 net income up 39%
Mooresville, N.C. -- Lowe’s reported a 39% increase in fiscal fourth-quarter earnings to $285 million, up from $205 million a year earlier.
Sales grew 3% in the latest quarter to $10.5 billion. Same-store sales rose 1.1%.
For fiscal 2010, net income grew to $2 billion, from $1.8 billion in fiscal 2009. Sales grew to $48.8 billion from $47.2 billion.
The company expects to open 25 to 30 stores in 2011.