MOORESVILLE, N.C. ― Lowe’s a healthy increase in the first quarter, with net earnings up 31.4% to $884 million on sales of $5.2 billion, which were up a healthy 7.8%. Same-store sales for the quarter increased 7.3%, with comp sales for the U.S. up 7.5%. Growth in both transaction and average ticket helped boost comp sales, said Bob Niblock, Lowe’s chairman, president, and CEO. The first- quarter results include an unrealized gain on a foreign currency hedge entered into in advance of the company’s pending RONA acquisition, which increased pre-tax earnings for the first quarter by $160 million. The company’s outlook for 2016 includes an expectation that sales will increase about 6%, with the addition of a 53rd week accounting for 1.5% of that lift.
Lowe’s earnings up on strong sales
Most Recent
Most Read
Supply Build Canada launches “Buy Local, Build Local” resource
Wed, April 02nd, 2025
Former co-owner acquires New Brunswick RONA
Wed, April 02nd, 2025
Looking for your next new hire? Hardlines Classifieds can help
Wed, April 02nd, 2025
Quebec BMR changes hands
Tue, April 01st, 2025
Latest power tool innovation promises to transform the industry
Tue, April 01st, 2025
Home Hardware strengthens its Blue Jays sponsorship
Tue, April 01st, 2025
PRO Dealer Business looks at tariffs, robotics
Tue, April 01st, 2025
Court rejects deal between HBC, lenders
Mon, March 31st, 2025
Featured Classified: Regal ideas
Mon, March 31st, 2025
Canadian Tire makes executive appointment
Fri, March 28th, 2025