Sales & Earnings Fell for Lowe's in Q4 2016, But Grew for FY
Mooresville, NC, February 28, 2018-Lowe’s Companies reported net earnings of $554 million for Q4 2017, a decrease of 19.7%, compared to net earnings of $663 million in Q4 2016. For the fiscal year, net earnings were $3.4 billion, an increase of 9.7% compared to net earnings of $3.1 billion in fiscal 2016.
Sales for Q4 2016 were $15.5 billion, a decrease of 1.9% compared to $15.8 billion in the fourth quarter of 2016, and comparable sales increased 4.1%. For the fiscal year, sales were $68.6 billion, an increase of 5.5% compared to $65.0 billion in fiscal 2016, and comparable sales increased 4.0%.
Comparable sales for the U.S. home improvement business increased 3.7% for the fourth quarter and 3.9% for the fiscal year.