Profits up for Lowe’s in first quarter

MOORESVILLE, N.C. — Lowe’s Cos. reported net earnings of $624 million for the quarter ended May 2, a 15.6% increase over the same period a year ago. Diluted earnings per share increased 24.5% to $0.61. Sales for the first quarter increased 2.4% to $13.4 billion from $13.1 billion a year ago, and same-store sales increased 0.9%.