Showing a profit again

Lowe’s recorded a turnover of US $ 14.2 bn (€ 10.5 bn) in the second quarter of 2007, which amounts to an increase of 5.8 per cent year-on-year. In like-for-like terms, however, sales were 2.6 per cent down. The company’s profit nevertheless increased by 9.0 per cent to US $ 1.02 bn (€ 767 mio), though it was not enough to compensate for the poor results of the first quarter. This means that a 1.0 per cent drop in profit to US $ 1.76 bn (€ 1.31 bn) remains for the first six months of 2007. Sales rose in this period by 4.1 per cent to US $ 26.3 bn (€ 19.5 bn), but were down by 4.4 per cent in same-store terms.