Lowe’s Cos., the second-largest U.S. home-improvement retailer, posted fourth-quarter profit that exceeded analysts’ estimates, helped by spending on remodeling and Hurricane Sandy repairs.
Net income fell 11 percent to $288 million, or 26 cents a share, from $322 million, or 26 cents, a year earlier, the Mooresville, North Carolina-based company said Monday in a statement. Analysts projected 23 cents, the average of 24 estimates in a Bloomberg survey.
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