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Wilkesboro, N.C., Lowe’s Cos. income rose 15.5% in the third quarter to $522 million, up from $452 million in the same period last year. Comp-store sales increased 5.2% as total sales increased to $9.1 billion, from $7.8 billion a year ago.
"Continued signs of a robust housing market, improving employment and strong demographic trends provide a foundation for our optimism for the future," Robert Tillman, chairman and chief executive, said in a statement.
The company’s 5.2% comps on top of the 12.2% increase in last year’s third quarter marked the best two-year performance in almost a decade.