(MOORESVILLE) -- Lowe’s Companies, Inc. reported second quarter net earnings of $747 million. This represents a 10 percent decrease over the same period a year ago.

Part of the decline is because of the shift in comparable weeks for the period.  This latest quarter also included a charge related to a previously announced reduction in staff at the company's headquarters in Mooresville. This charge reduced pre-tax earnings for the second quarter by $15 million and diluted earnings per share by $0.01.

“Our results fell short of our overall expectations,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “However, I have confidence in our strategy and in our employees, and while we recognize the significant magnitude of change that we’ve asked the organization to absorb as we transform our business, we fully understand that we must improve our level of execution.”