UPDATE: Lowe's Reports Decline In Q3 Net Profit

Lowe's Cos

reported a decline in its Q3 net profit. Lowe's quarterly profit fell to $225 million, or $0.18 per share, from $404 million, or $0.29 per share, in the year-ago period. Its sales rose to $11.85 billion from $11.59 billion. Lowe's projects Q4 total sales to surge about 8% and earnings per share of between $0.20 and $0.23 per share. Lowe's shares gained 2.89% to close at $23.11 on Friday.