Lowe’s sees Q4, fiscal 2014 sales and comps soar

Mooresville, N.C. – Home improvement chain Lowe’s Companies Inc. posted strong sales, comp and earnings for the fourth quarter and full fiscal year, driven by better economic trends and its efforts to upgrade stores and services.

The 1,840-unit chain reported a 47% jump in net earnings to $450 million for the quarter, ended January 30, and a 58.6% increase in diluted earnings per share to $0.46.

Sales for period rose 7.6% to $12.5 billion. Comparable sales were up 7.3% for the total company and 7.4% for the U.S..

For fiscal 2014, results included: and 18.0% increase in net earnings to $2.7 billion; a 26.6% rise in earnings per share to $2.71; a 5.3% increase in sales to $56.2 billion; and a 4.3% comp both on a consolidated basis and for the U.S. business.

Robert Niblock, chairman, president and ceo, said the company expects modestly stronger home improvement industry growth in 2015.

Lowe’s business outlook for fiscal 2015 include:

• Total sales to increase 4.5% to 5%;
• Comparable sale increases of 4% to 4.5%;
• The opening of 15 to 20 new home improvement and hardware stores.
• Diluted earnings per share of $3.29.