Lowe’s quarterly same-store sales beat estimates By Reuters

© Reuters. FILE PHOTO: A Lowe’s hardware story is show in Carlsbad, California

(Reuters) – Lowe’s Cos Inc (N:) beat analysts’ estimates for quarterly same-store sales on Wednesday, as it benefited from a surge in demand for home improvement products from consumers stuck indoors due to the COVID-19 pandemic.

Same-store sales rose 34.2%, beating analysts’ estimates of a 13.2% increase, according to IBES data from Refinitiv. That was higher than larger rival Home Depot Inc’s (N:) 23.4% rise.

The company’s net earnings rose to $2.83 billion, or $3.74 per share, for the second quarter from $1.68 billion, or $2.14 per share, a year earlier. [nPnbpC76ca]

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*