Lowe's (LOW) Reports Q1 Earnings
Mooresville, NC, May 23, 2018-Lowe’s increased net earnings by 61% in Q1.
Sales for the first quarter increased 3%, and comparable sales increased 0.6%. Comparable sales for the U.S. home improvement business increased 0.5%.
"We drove solid performance in indoor categories and continued to grow our sales to Pro customers. However, prolonged unfavorable weather across geographies led to a delayed spring selling season, which impacted results in outdoor categories," commented Robert A. Niblock, Lowe's chairman, president and CEO. "Spring has now arrived and we are encouraged by strong sales in the month of May.
As of May 4, 2018, Lowe's operated 2,154 home improvement and hardware stores in the United States, Canada and Mexico, representing 215.1 million square feet of retail selling space.