rovement). Lowe’s net earnings over fiscal year 2000 reached an all time high of 809.9 million dollars, that is a net increase of 20% over the 672.8 million dollars earned in fiscal year 1999. Lowe’s sales in fiscal year 1999 totaled 15.9 billion dollars and for fiscal year 2000 that figure increased 18% to 18.8 billion dollars. Store sales also rose 1.2% in fiscal year 2000. (Annual Repot 2000) Out doing its largest competitor in 2001, Lowe’s focus is now centered on more efficient operating cost. So far for fiscal year 2001, Lowe’s has out done Home Depot’s performance by 50 percent. For the seventh straight quarter, Lowe’s relative return on assets has improved, and the operational gap between Lowe’s and Home Depot is slimming on a day-to-day basis. Lowe’s has a reported in-store sales increase of 1.7% for the second quarter of fiscal year 2001. Compared to reports from Home Depot of an in-store sales increase of 1% for the second quarter of 2001. (http://news.ft.com/home/us/)Lowe’s financial forecast for the third quarter of fiscal year 2001 was also right on track. Even with the tragic events that shocked the Nation on September 11, 2001, Lowe’s reported a third quarter earnings per share of about 30 to 32 cents. While Wall Street analysts’ predictions for the third quarter were about 31 cents per share. It is quite impressive that Lowe’s was able to live up to market expectations this third quarter, especially taking into consideration the tragic events of the terrorist attacks on the United States. Lowe’s met its third quarter earning expectations and helped out with the efforts in New York and at the Pentagon. Lowe’s donated free materials to aid in the clean up effort, and financial donations to the Red Cross. The employees of Lowe’s should be very proud of the finical and humanitarian accomplishments that its company has ...
