Home Improvement Chain Says Earnings Up 9%

Lowe's says its second-quarter earnings rose 9 percent, despite a slowing home improvement market.

The Mooresville home improvement chain reported earnings of one billion dollars, or 67 cents per share for the second quarter. That compares with earnings of 935 million dollars, or 60 cents a share
last year.

The company's revenue rose nearly 6 percent from about 13 billion dollars to more than 14 billion dollars.

Sales in stores open at least one year fell 2.6 percent in the quarter.

The chief executive of the nation's second-largest home improvement chain, Robert Niblock, says Lowe's its getting its share of the market in a difficult sales environment.

The largest home improvement chain, Home Depot, said last week its income dropped nearly 15 percent in the second quarter.