Lowe's Companies Inc. (Mooresville, N.C.) reported today its net earnings for the second quarter of 2013 were $941 million, a 26.0 percent increase over the same period of 2012. For the six months ended August 2, 2013, net earnings increased 16.2 percent over the prior year to 1.48 billion.
Sales for the second quarter reached $15.7 billion, 10.3 percent above 2012. For the six-month period, sales were $28.8 billion, a 5.1 percent increase over a year ago.
"Home improvement demand was strong during the quarter, and we capitalized on it with improving execution. I'd like to thank our employees for their hard work and continued dedication to serving customers," Robert A. Niblock, Lowe's chairman, president and CEO, said in a statement.
Looking forward, the company predicts total sales to increase approximately 5 percent and plans to open 10 new stores in fiscal year 2013.
