Lowes, Home Depot Keep Raking In The Profits 11/17/2004
The Home Depot today reported record third quarter earnings of $1.3 billion on sales of $9.1 billion, while its smaller competitor Lowes netted fourth quarter earnings of $522 million, a 15.5 percent increase over the same period a year ago.
Home Depot continued its agressive $1 billion upgrade of store interiors, as well as adding new products lines such as Ralph Lauren Paints, Hampton Bay interior lighting and ceiling fans, Ryobi air grip laser level, Charmglow outdoor fireplace products, RIDGID titanium coated saw blades, Porter Cable compressor combo, Masonite doors and Trex composite decking.
For its part, Lowe’s opened 35 new stores including one relocation during the fourth quarter. As of October 29, 2004, Lowe's operated 1,031 stores in 45 states representing 117.5 million square feet of retail selling space, a 13.4 percent increase over last year. |
