Lowe’s 4th-Quarter Profit Rises 55%

Lowe’s Cos.’ profit rose 55% in its latest quarter as the second-largest home improvement retailer opened stores in new markets.

Net income in its fourth quarter ended Feb. 1 rose to $218.4million, or 28 cents a share, the Wilkesboro, N.C.-based company said. Sales rose 16% to $5.25 billion.

Lowe’s shares rose $1.44 to close at $47.49 on the NYSE.