Lowe’s reported net earnings of $527 million for the quarter ended May 4, a 14.3% increase over the same period a year ago.
Sales for the quarter increased 7.9% to $13.2 billion from $12.2 billion in the first quarter of 2011.
Comparable-store sales for the quarter increased 2.6%, while comparable-store sales for the U.S. business increased 2.7%.