US Lowe's posts 14% rise in Q1 profit 

(MENAFN) Lowe's Cos. Chairman, President and CEO, Robert Niblock, announced that profit of the world's second-biggest home improvement firm jumped 14 percent in the first quarter to USD527 million from USD461 million in 2011's same period, reported AP.

Niblock said that during the period that ended May 4, revenue reached USD13.15 billion, with an increase of 8 percent from the USD12.19 billion recorded a year earlier.

Moreover, revenue at stores open at least a year rose 2.6 percent, with 2.7 percent in the US.

He added that at the end of the quarter, the retailer had 1,747 stores in the US, Canada and Mexico.

It is worth noting that the Mooresville, N.C.- based company forecasts 2012's revenue to go up 1-2 percent, reaching between USD50.69 billion and USD51.2 billion.