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Lowe’s profit rises 17% in Q3, misses Street
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%. -
Walmart to open stores at midnight on Black Friday
Bentonville , Ark. -- Walmart announced that most of its stores will open their doors at midnight on the Friday after Thanksgiving.
Starting at 12 a.m. on Nov. 26, shoppers can head to the Walmart Open House for big savings on popular toys, apparel and home goods, the company reported. Then, beginning at 5 a.m., Walmart said it will kick off its electronics event, including discounted prices on HDTVs, laptops, gaming systems and cameras.