WILKESBORO, N.C. - Lowe's Cos. said Monday its fourth-quarter earnings should be higher than previously estimated because of better than expected weather and consumer spending. <br>
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"Our earnings are also expected to exceed previous guidance of 22 cents to 24 cents a share due to above plan sales and margin growth as well as a continuing focus on expenses," said Robert Niblock, executive vice president and CEO. <br>
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"Better than anticipated weather and a resilient consumer, combined with our merchandising and operations focus have resulted in fourth quarter comparable store sales in excess of our previous guidance of 3 to 5 percent." <br>
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Analysts estimated the company's fourth quarter revenue would be $5.19 billion, according to Thomson Financial/First Call. <br>
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Lowe's fiscal fourth quarter ended Feb. 1 and results will be released on Feb. 25. <br>
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Shares of Lowe's gained $1.21 to $46.91 per share at midday on the New York Stock Exchange. <br>
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