Hardware Retailing The Industry's Source for Insights and Information
Lowe’s Companies, Inc. released second quarter sales and earnings results this week.
The big box reported sales for the second quarter increased 4.5 percent to $17.3 billion from $16.6 billion in the second quarter of 2014. Comparable sales increased 4.3 percent. For the six month period, sales were up $31.5 billion, a 4.9 percent increase over the same period a year ago, and comparable sales increased 4.7 percent.
“We posted solid results for the quarter and were able to capitalize on big-ticket market share opportunities with a strong growth in categories like appliances and outdoor power equipment,” president and CEO Robert A. Niblick says. “I would like to thank our employees for their hard work and commitment to serving customers during this important selling season.”
The company also repurchased $1.5 billion of stock under its share repurchase program and paid $218 million in dividends in the second quarter.
As of July 31, 2015, Lowe’s operates 1,846 home improvement and hardware stores in the United States, Canada and Mexico.
To read more on Lowe’s second-quarter performance and earnings report, click here.
