Lowe's 4Q net income tops expectations
NEW YORK – Home improvement retailer Lowe's Cos. credits cleanup efforts after Superstorm Sandy and its new pricing strategy for fourth-quarter earnings that surpassed Wall Street expectations.
The results are a sign that people are beginning to feel better about spending money on their homes as the housing market slowly recovers. Analysts will be watching Lowe's larger rival Home Depot's earnings report on Tuesday to see if its results show a similar story.
Lowe's CEO Robert Niblock said the company is seeing a pickup in spending even in areas of the country hit hardest by the housing slump, like Florida, Arizona and California.
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