Wednesday, August 21, 2019

Lowe's Posts Strong Second-Quarter Earnings, Sales Top Forecasts

Shares of home improvement retailer Lowe's took off on Wednesday after reporting second-quarter earnings that beat analysts' forecasts as the Home Depot competitor continued to focus on luring home-improvement and renovation-focused customers through its doors.

Sales were $21 billion vs. $20.8 billion a year ago and above analysts' forecasts of $20.97 billion. Comparable same-store sales, a key metric among brick-and-mortar retailers, was 2.3%. Comparable-store sales for its U.S. home improvement business increased 3.2%.. . . more