News Summary: Lowe's 4Q profit beats consensus

News Summary: Lowe's 4Q net income falls but surpass expectations on Superstorm Sandy, pricing

Associated Press

NEW YORK (AP) -- THE NEWS: Home improvement retailer Lowe's Cos. said Monday that its net income fell 11 percent from last year's quarter. But results surpassed expectations, helped by cleanup efforts after Superstorm Sandy and its new pricing strategy

THE CONTEXT: The results are a sign that people are beginning to feel better about spending money on their homes as the housing market recovers. Analysts will be watching to see if Lowe's larger rival Home Depot's reports similar results on Tuesday.

WHAT'S NEXT: Lowe's said it expects fiscal 2013 net income of $2.05 per share. Analysts expect $2.10 per share.

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