Lowe's Q1 Comparable Sales -4.3%. Q1 Had 14 Weeks
Portfolio Pulse from Benzinga Newsdesk
Lowe's reported Q1 comparable sales down by 4.3% with total sales of $22.3 billion. The decrease was attributed to lumber deflation, unfavorable weather, and lower DIY discretionary sales.
May 23, 2023 | 10:02 am
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NEGATIVE IMPACT
Lowe's Q1 comparable sales decreased by 4.3% due to lumber deflation, unfavorable weather, and lower DIY discretionary sales, resulting in total sales of $22.3 billion.
The decrease in comparable sales and total sales for Lowe's is a negative indicator for the company's short-term stock performance. Lumber deflation, unfavorable weather, and lower DIY discretionary sales have directly impacted the company's revenue, which may lead to a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100