MOORESVILLE, NC -- Lowe's Companies, Inc. reported net earnings of $673 million for the quarter ended May 1, 2015, a 7.8 percent increase over the same period a year ago.
Sales for the first quarter increased 5.4 percent to $14.1 billion from $13.4 billion in the first quarter of 2014, and comparable sales for the quarter increased 5.2 percent. Comparable sales for the U.S. home improvement business increased 5.3 percent.
"I am pleased that we executed well and delivered another strong quarter," commented Robert A. Niblock, Lowe's chairman, president and CEO. "We generated comparable sales growth in all regions of the country and across all product categories, driving strong earnings per share growth. I would like to thank our employees for their dedication to serving customers."
As of May 1, 2015, Lowe's operated 1,843 home improvement and hardware stores in the United States, Canada and Mexico representing 201.2 million square feet of retail selling space.