Lowe’s Says Earnings Will Beat Estimates

Lowe’s Cos., the second-largest home-improvement chain, said its fiscal fourth-quarter earnings would beat forecasts after warmer-than-expected weather helped increase sales at stores open at least a year.

Same-store sales in the quarter ended Friday exceeded the company’s forecast of 3% to 5% growth, and profit topped its estimate of 22 cents to 24 cents a share, Lowe’s said. Analysts’ average estimate was 23 cents, according to Thomson Financial/First Call. Net income for the year-earlier period was 18 cents a share, adjusted for a stock split announced in May.

Shares of Lowe’s rose 66 cents to close at $46.36 on the New York Stock Exchange.