Lowe’s Cos. said this week its Q1 earnings rose to $2.33-billion, or $3.51 per share. That exceeded analyst expectations of $3.22 per share. The increase was despite a decline in sales as homeowners returned to their offices. Net sales fell three percent to $23.66-billion, with overall comp sales down by a greater-than-expected four percent. “Because 75 percent of our customer base is DIY, our Q1 sales were disproportionately impacted by the cooler spring temperatures,” CEO Marvin Ellison explained.
Lowe’s earnings rise despite sales drop
Most Recent
Most Read
Consumer boycott of Loblaw Companies begins
Fri, May 03rd, 2024
Pont-Masson ad evokes a classic movie
Fri, May 03rd, 2024
Featured Classified: Taiga
Fri, May 03rd, 2024
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024