Canadian tax credit helps lift profits for home-improvement retailers

02/22/2010 | Toronto Sun

Lowe's, the newest home-improvement retail chain in Canada, exceeded expectations with its quarterly profits as Canadians took advantage of the Home Renovation Tax Credit. "Our Canadian stores had an extremely strong fourth quarter and the government-sponsored Home Renovation Tax Credit had a strong positive impact," a Lowe's spokesperson wrote. The Home Depot, which released quarterly results today, is also expected to post positive results.

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