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Lowe’s posts higher earnings

Monday, Aug. 16, 2004 | 9:18 a.m.

Lowe's Cos., the world's No. 2 home-improvement chain, today said second-quarter earnings rose 18 percent, helped by new stores and increased demand for building materials such as lumber. Net income climbed to $704 million, or 89 cents a share, from $597 million, or 75 cents, a year earlier. Sales at stores open at least a year rose 5.1 percent in the quarter ended July 30, the slowest rate in more than a year, the company said in a statement.

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