By Dave Sebastian

Lowe's Cos. said it expects sales to rise about 22% for the fiscal year, a financial guidance that incorporates previously laid out fourth-quarter outlook.

For the year ending Jan. 29, the company on Wednesday said it expects comparable sales to rise about 23%. It sees earnings of $7.53 a share to $7.63 a share, or $8.62 a share to $8.72 a share on an adjusted basis.

The home-improvement retailer had said it expects earnings to rise in the fourth quarter as it continues to notch gains in digital sales.

"As we drive market share gains and focus on targeted productivity initiatives, we expect to improve operating efficiency and generate robust levels of free cash flow," Finance Chief David Denton said.

The company is hosting an investor update Wednesday.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

12-09-20 0857ET