Lowe’s 4Q profit falls along with housing market (AP)

A Lowe's Home Improvement Warehouse is seen in Harrisburg, Pa. Friday, Feb. 20, 2009. Lowe's Cos. Inc., the nation's second biggest home improvement retailer, said its fourth-quarter profit dropped 60 percent and forecast 2009 earnings that are short of Wall Street's expectations. (AP Photo/Carolyn Kaster)AP – The dismal housing market dragged down fourth-quarter profits at Lowe’s Cos. Inc. by 60 percent, and executives at the home improvement chain said they see little hope of a substantive fix from a federal effort aimed at helping struggling homeowners.


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