Lowe's, the No.2 U.S. home improvement chain, reported better-than-expected quarterly same-store sales, helped by higher demand for items such as appliances and outdoor power equipment.
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The company's same-store sales rose 4.3 percent in the second quarter, stronger than the 3.9 percent expected by analysts polled by research firm Consensus Metrix.
Lowe's sells a range of outdoor power equipment including chainsaws, lawn mowers and branch trimmers, and appliances such as refrigerators, dishwashers and washing machines.
Larger rival Home Depot also reported a stronger-than-expected rise in quarterly same-store sales on Tuesday, helped by increased home remodeling activity in the United States and a recovery in the housing market.
Lowe's net income rose to $1.13 billion, or $1.20 per share, in the quarter ended July 31 from $1.04 billion, or $1.04 per share, a year earlier.
Net sales rose 4.5 percent to $17.35 billion.
Analysts on an average had expected earnings of $1.24 per share and revenue of $17.27 billion, according to Thomson Reuters I/B/E/S.
Lowe's shares were down slightly at $72.71 in premarket trading on Wednesday.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Kirti Pandey)