Lowe's Companies (LOW) Reports In-line Sales for Feb. 2009

Lowe's Companies, Inc. (NYSE: LOW) today provided a sales update as a result of an inadvertent disclosure of financial information by GE Capital (NYSE: GE), who manages Lowe's proprietary credit card programs. While the sales number released was based on a different fiscal calendar, and therefore did not accurately reflect actual total February results, the company deemed it prudent to provide an update.

Sales for the fiscal month of February (January 31, 2009 to February 27, 2009) were in line with the company's guidance for the quarter. Based on results through March 18, 2009, the company is comfortable reiterating previously provided sales and earnings guidance for its fiscal first quarter.

Lowe’s Companies, Inc. is a home improvement retailer, with specific emphasis on retail do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers, who utilize its installation services, and commercial business customers.[SM]

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