Lowe's Increases Both Earnings & Sales YOY in Q2

Mooresville, NC, August 23, 2017-Lowe’s reported net earnings of $1.4 billion for Q2 2017, compared to net earnings of $1.2 billion in Q2 2016.

The second quarter results included a $96 million gain from the sale of the company's interest in its Australian joint venture.

Sales for Q2 2017 increased 6.8% to $19.5 billion from $18.3 billion in Q2 2016, and comparable sales increased 4.5%.

As of August 4, Lowe's operated 2,141 home improvement and hardware stores in the United States, Canada and Mexico, representing 214.1 million square feet of retail selling space.

While comp sales where up 4.5% for the second quarter, the flooring department was listed as having below-average performance during conference call.

The company expects to repurchase $3.5 billion of stock, a move that was announced in January and does not include an expiration date.