Home improvement retailer Lowe's Companies, Inc. (LOW) said, excluding charges in the prior-year period related to the extinguishment of debt, third quarter earnings per share increased 38% from a year ago. Comparable sales increased 2.2%. Comparable sales for the U.S. home improvement business were up 2.6% for the third quarter.
With sales momentum continuing into November, Lowe's once again increased its outlook for the operating results of fiscal 2021. Given its better-than-expected performance, Lowe's now plans to repurchase approximately $3 billion in shares in the fourth quarter, bringing the expected total share repurchases for the year to approximately $12 billion.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com