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ID: 25302
Title: Lowe's 4Q profit drops 11.5 percent (AP)
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A customer enters the Lowe's home improvement store, Wednesday, Feb. 21, 2007, in Sandy, Utah.  Lowe's Cos., the nation's second biggest home improvement store chain, said Friday, Feb. 23, 2007 that its fourth-quarter profit fell 11.5 percent due to a slowing home improvement market amid a continued slump in the housing sector. But the results topped expectations and the company's shares rose. (AP Photo/Douglas C. Pizac)AP - Profit at Lowe's Cos. fell 11.5 percent in the fourth quarter but beat analysts' expectations, and investors Friday rewarded the home improvement retailer. Wall Street sent shares of the nation's second-largest home improvement chain higher. In fact, some analysts made bets Friday that Lowe's might have borne the worst of a slowdown from the slumping housing sector.


Category: Business/
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Date Added: February 24, 2007 12:04:27 AM
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