Lowe's 1998 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 1998 Lowe's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 40

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40

January 29, % January 30, % January 31, %
1999 Sales 1998 Sales 1997 Sales
Consolidated Statements of Earnings
In Thousands, Except Per Share Data
Years Ended on
Net Sales $12,244,882 100.0% $10,136,890 100.0% $8,600,241 100.0%
Cost of Sales 8,950,156 73.1 7,447,117 73.5 6,376,482 74.1
Gross Margin 3,294,726 26.9 2,689,773 26.5 2,223,759 25.9
Expenses:
Selling, General and Administrative 2,118,149 17.3 1,754,780 17.3 1,463,812 17.0
Store Opening Costs 71,651 0.6 69,999 0.7 59,159 0.7
Depreciation 271,769 2.2 240,880 2.4 198,115 2.3
Interest (Note 13) 74,735 0.6 65,567 0.6 49,067 0.6
Total Expenses 2,536,304 20.7 2,131,226 21.0 1,770,153 20.6
Pre-Tax Earnings 758,422 6.2 558,547 5.5 453,606 5.3
Income Tax Provision (Note 11) 276,000 2.3 201,063 2.0 161,456 1.9
Net Earnings $ 482,422 3.9% $ 357,484 3.5% $ 292,150 3.4%
Basic Earnings Per Share (Note 7) $ 1.37 $ 1.03 $ .87
Diluted Earnings Per Share (Note 7) $ 1.36 $ 1.03 $ .86
Cash Dividends Per Share $ .12 $ .11 $ .10
See accompanying notes to consolidated financial statements.
$ Billions
Lowe’s Sales Growth
$ Millions
Lowe’s Earnings Growth
6
9
12
15
100
200
300
400
500
Fiscal Yr. Fiscal Yr.
19