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Lowe’s looking better with room for improvement
Positive same-store sales in 12 of 14 merchandise categories at Lowe’s pushed third-quarter profits up 76%.
Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago on revenues that increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion. Same-store sales increased 1.8%.
Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.
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Home Depot opens 100th location in Mexico
Home Depot has opened its 100th location in Mexico, according to an article in El Financiero. The Atlanta-based retailer now operates 95 stores in 60 cities in Mexico, where it generates annual revenues of $1 billion, the newspaper said.
In the final quarter of 2012, Home Depot will open stores in the towns of Coahuila, Sonora, Veracruz, Michoacán and Nuevo León.