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Lowe's Sees Higher Quarterly, Yearly Profits on Stronger-Than-Expected Sales.
Byline: Brian Louis
Sep. 24--Lowe's Cos. Inc. said yesterday that profit for its fiscal third quarter and full year will be slightly higher than it previously forecast because of stronger-than-expected sales.
The increase in sales reflects Lowe's push into densely populated metropolitan areas, the No. 2 home-improvement retailer said.
Lowe's said its same-store "sales are running ahead of previous expectations for a 5 percent to 6 percent increase for the quarter" that ends on Oct. 31.
Same-store sales exclude new and closed stores and are a key measure of a retailer's performance.
The profit-forecast increase announcement was made …
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