Both The Home Depot and Lowe’s turned in steady results for their second quarters, following strong results in 2020 and 2021. The financials at Home Depot represented the highest quarterly sales and profits in the company’s history. While the performance at Lowe’s Cos. was not quite as dramatic, the company came close to maintaining the momentum of the previous year.
One area in which both companies made gains was the contractor market. Lowe’s reported that sales to its pro customers during the quarter were up 13 percent. Similarly, Home Depot once again saw its pro business grow faster than its DIY sales.
(We’ll have a full report on the second-quarter results for both Home Depot and Lowe’s in the next shoe-gazing edition of our weekly Hardlines newsletter. We invite you to get the full story every week by subscribing to this in-depth publication, delivered every Monday morning to your inbox. Click here to try out four issues on us!)
