Here’s some news from a tenant who has been pretty quiet.
MOORESVILLE, N.C., May 18, 2016 /PRNewswire/ — Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $884 million for the quarter ended April 29, 2016, a 31.4 percent increase over the same period a year ago. Diluted earnings per share increased 40.0 percent to $0.98 from $0.70 in the first quarter of 2015.
- Total sales are expected to increase approximately 6 percent, including the 53rd week
- The 53rd week is expected to increase total sales by approximately 1.5 percent
- Comparable sales are expected to increase approximately 4 percent
- The company expects to add approximately 45 home improvement and hardware stores.
- Earnings before interest and taxes as a percentage of sales (operating margin) are expected to increase 80 to 90 basis points.2
- The effective income tax rate is expected to be approximately 38.1%.
- Diluted earnings per share of approximately $4.11 are expected for the fiscal year ending February 3, 2017.