Lowe’s Gains After Closing Sales Growth Gap on Home Depot

Lowe’s Cos. is finally closing in on larger rival Home Depot Inc. in same-store sales growth, one of the most closely watched yardsticks of success in retail.

Lowe’s said today that sales at stores open longer than 13 months rose 5.1 percent in the quarter through October. That almost matched Home Depot’s 5.2 percent gain and is the closest Lowe’s has come to its competitor on that measure in more than four years. Lowe’s also raised its annual profit and sales forecast, while Home Depot maintained its outlook yesterday.