Wednesday, May 20, 2020

Lowe's Smashes Q1 Earnings Forecast as Digital Sales Surge

The Street
Lowe's Companies posted stronger-than-expected first-quarter earnings Wednesday and said its solid performance continued this month, as big retailers that remained open during the peak of the coronavirus pandemic continue to book big top and bottom-line gains.

Lowe's said adjusted earnings for the three months ending on May 1 were up 45% from the same period last year. Group revenues, Lowe's said, rose 11% to a forecast-beating $19.7 billion, with same-store sales in the U.S. rising 12.3% and digital sales surging by around 80%.. . . more