Lowe's Grew Earnings & Sales in Q2
Mooresville, NC, August 21, 2019-Lowe's Companies reported net earnings of $1.7 billion for Q2 2019, compared to net earnings of $1.5 billion in Q2 2018, an increase of 11.8%.
Sales for Q2 2019 increased 0.5% to $21.0 billion from Q2 second quarter of 2018, and comparable sales increased 2.3%. Comparable sales for the U.S. home improvement business increased 3.2%.
"We capitalized on spring demand, strong holiday event execution and growth in paint and our pro business to deliver strong second quarter results. Despite lumber deflation and difficult weather, we are pleased that we delivered positive comparable sales in all 15 geographic regions of the U.S. This is a reflection of a solid macroeconomic backdrop and continued momentum executing our retail fundamentals framework," commented Marvin R. Ellison, Lowe's president and CEO.
As of the close of Q2 , Lowe's operated 2,003 home improvement and hardware stores in the United States and Canada representing 208.8 million square feet of retail selling space.