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November 21, 2014

Lowe's, Home Depot profits up sharply

  • Earnings for the home improvement retailers were hampered earlier this year by bad weather, rising mortgage rates and a tight housing supply.

    • MOORESVILLE, N.C. (AP) — Lowe's third-quarter earnings jumped 17 percent as home improvement retailers continue to rebound from a tough start to the year, reaping gains from a nascent recovery in the housing market.

    The company also raised its full-year forecast a day after rival Home Depot reported a 14 percent jump in third-quarter earnings.


     
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