Lowe's Sales Stable but Earnings Down in Q4
Mooresville, NC, February 28, 2019-Lowe's reported a net loss of $824 million for Q4 2019, compared to net earnings of $554 million in Q4 2017. Net sales rose 0.9% YOY for Q4 2018. Comparable sales increased 1.7% in Q4, while comparable sales for the U.S. home improvement business increased 2.4%.
For the fiscal year, net sales rose 3.8% YOY, and net earnings were $2.3 billion, compared to $3.4 billion in FY 2017.
As of February 1, 2019, Lowe's operated 2,015 home improvement and hardware stores in the United States, Canada and Mexico representing 209.5 million square feet of retail selling space.