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Lowe’s Reports $27.6B in Q2 2021 Sales

Lowe’s has announced its second-quarter 2021 financial results, confirming $27.6 billion in net sales for the period. The figure represents a 1.1 percent increase over the same period in 2020.

The company reported net earnings of $3 billion, a 7 percent increase from the same period one year ago.

So far this year, Lowe’s has achieved $52 billion in sales, a 10.6 percent increase over first two quarters of 2020. Net earnings stand at $5.3 billion. Comparable sales for the company fell 1.6 percent this quarter.

“In the quarter, we drove 21 percent growth in pro, 10 percent growth in installation services and strong comps across decor product categories,” says Marvin Ellison, Lowe’s chairman, president and CEO.

Online, Lowes.com sales grew 7 percent following 135 percent growth across 2020, Ellison confirmed. On Lowes.com, sales grew 7 percent on top of 135 percent growth last year.

In the first quarter of the year, the big-box home improvement chain’s net sales arrived at $24.4 billion. Earlier this year, the company detailed plans to hire roughly 50,000 hourly associates.

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