Surry Business

For and about business in Surry County, N.C., including Dobson, Elkin, Lowgap, Pilot Mountain and Mount Airy

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Lowe’s lowers expectations for 2007 profits

September 25th, 2007 · No Comments

Lowe’s Companies Inc. says lower-than-expected sales could cause its fiscal 2007 profit to be at the low end or below its August estimate of $1.97 to $2.01 per share. The company’s fiscal year ends in February.

The home-improvement company (NYSE:LOW) says drought conditions in the mid-Atlantic, southeastern and western regions of the country have adversely affected sales of outdoor products.

Lowe’s, founded in 1946 in North Carolina, has more than 1,425 home-improvement stores including two in Surry County: Lowe’s of Mount Airy on the Andy Griffith Parkway (U.S. 52 at U.S. 601) and Lowe’s of Elkin, 492 CC Camp Road.

Tags: Businesses

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