Lowe’s Net up 13%

Lowe’s reported a 13% increase in earnings for the fiscal fourth quarter and same store sales were up 3.4%.  The second largest home improvement retailer has been closing stores and reshaping its operations in an effort to increase profits and compete with rival Home Depot.   For 2012, Lowe’s forecasts a total sales increase of 1% to 2% with same store sales increasing 1% to 3%.