While Lowe’s Expects Estimates to Be on Target

Wilkesboro, NC, Jan. 2–Lowe’s Companies has reconfirmed its sales and earnings expectations for the fiscal fourth quarter and year.

“Quarter-to-date comparable store sales are within our previous guidance of 2% to 4%,” stated Robert A. Niblock, Lowe’s executive vice president and CFO. “Based on these trends, we remain comfortable with our previous guidance of 16% to 17% sales growth, including a 2% to 4% increase in comparable store sales, and diluted earnings of $0.33 per share for the fourth quarter. For the year, Lowe’s expects total sales to increase by approximately 20% and diluted earnings per share of $1.78 which represents an increase of 37% over fiscal 2001.”

Lowe’s fiscal fourth quarter ends on January 31, and operating results will be publicly released on February 24.