Lowe's Q2 Comparable Sales -1.6%
Portfolio Pulse from Benzinga Newsdesk
Lowe's reported Q2 total sales of $25.0 billion, with a decrease in comparable sales by 1.6%. This was partially offset by strong spring recovery and growth in Pro and online sales, despite lumber deflation and lower DIY discretionary demand.
August 22, 2023 | 10:01 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Lowe's Q2 sales were $25.0 billion, with a 1.6% decrease in comparable sales. Growth in Pro and online sales helped offset this.
Lowe's reported a decrease in comparable sales, which is a key indicator of a retailer's health, as it excludes the impact of newly opened or closed stores. However, the growth in Pro and online sales shows some positive signs. This mixed result could lead to uncertainty among investors, potentially negatively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100