Lowe's posts lower quarterly profit

ATLANTA, May 21 (Reuters) - Lowe's Cos. (LOW.N), the second largest home improvement retailer behind Home Depot Inc. (HD.N), posted lower quarterly profit on Monday as the slower U.S. housing market hurt demand for higher-ticket projects. Earnings came to $739 million, or 48 cents a share, for the first quarter ended May 4, compared with $841 million, or 53 cents share, a year earlier. Sales at stores open at least a year, an important retail measure, fell 6.3 percent.

((Reporting by Karen Jacobs; Editing by Derek Caney; Reuters Messaging: karen.jacobs.reuters.com@reuters.net +1 404 493 3656)) Keywords: LOWES RESULTS/

(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nWNAS1961