Lowe’s surprises with earnings

Home improvement retailer Lowe’s Cos. credits cleanup efforts after Superstorm Sandy and its new pricing strategy for fourth-quarter earnings that surpassed Wall Street expectations.

The results are a sign that people are beginning to feel better about spending money on their homes as the housing market slowly recovers. Lowe’s CEO Robert Niblock said the company is seeing a pick up in spending even in areas of the country hit hardest by the housing slump, like Florida, Arizona and California.