Lowe's 2Q profit drops 7.9 pct, beats view

NEW YORK (AP) - August 18, 2008 The Mooresville, N.C. retailer said Monday that earnings fell to $938 million, or 64 cents per share, in the three months ended Aug. 1. That compares with a profit of $1.02 billion, or 67 cents per share, in the year-ago period.

It says sales increased 2.4 percent to $14.5 billion.

Thomson Reuters says analysts expected a profit of 56 cents per share on revenue of $14.1 billion.

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