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Lowe’s reported sales increases for its fourth quarter of 2014, as well as for the fiscal year.
The year’s sales were $56.2 billion, a 5.3-percent increase from 2013. Fourth-quarter sales totaled $12.5 billion, which was an increase of 7.3 percent from the fourth quarter of the year prior. Comparable store sales went up 4.3 percent for the year.
Robert Niblock, Lowe’s chairman, CEO and president, credits employees’ customer service and hard work as key drivers of the quarter’s growth.
“Their steadfast commitment to serving customers is critical to our success,” he says.
He expects modest growth in the home improvement industry in 2015, he says. The company plans to open 15 to 20 new stores this year, and predicts continued sales growth.
Lowe’s is headquartered in Mooresville, North Carolina, and currently operates more than 1,800 home improvement stores in the U.S., Canada and Mexico.
For more information on Lowe’s 2014 sales and earnings results, click here.
