Lowe’s Boosts Q3 Profit by 130 Percent

Lowe’s (Mooresville, N.C.) reported a third-quarter profit of $872 million, a 130 percent increase compared with its profit in the third quarter of 2016 of $379 million, according to the company’s financial filing.

Sales for the quarter were $16.77 billion, a 6.5 percent increase compared with sales of $15.74 billion in the third quarter of 2016. Comparable store sales for the quarter increased 5.1 percent.

“During the third quarter, we drove traffic in-store and online with compelling messaging and integrated customer experiences,” said Robert Niblock, Lowe’s chairman, president and CEO, in a statement. “We continue to invest in omni-channel capabilities to enhance value for customers and shareholders. I am also pleased with the progress we’ve made to enhance our product and service offering for the Pro customer, delivering another quarter of comparable sales above the company average.”

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