Lowe's reports fiscal fourth-quarter earnings

Home-improvement retailer Lowe's announced that its fiscal fourth-quarter net income was $288 million in the period that ended Feb. 1, down 11% from a year earlier. Revenue was down 5%. However, the company beat analysts' expectations due to rising consumer spending brought about by storm cleanup efforts and home improvement. "Certainly we've still got a lot of work to do, but we do feel like we have turned a corner," Lowe's CEO Robert Niblock said.

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