Lowe's Companies Q1 Comparable Sales Decrease 4.1%
Portfolio Pulse from Benzinga Newsdesk
Lowe's Companies reported a 4.1% decrease in Q1 comparable sales, attributed to a decline in DIY big ticket discretionary spending, partially offset by positive sales in Pro and online segments.
May 21, 2024 | 10:04 am
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Lowe's Companies reported a 4.1% decrease in Q1 comparable sales, driven by a decline in DIY big ticket discretionary spending. However, positive sales in Pro and online segments provided some offset.
The 4.1% decrease in comparable sales is a significant indicator of reduced consumer spending in the DIY segment, which is a core part of Lowe's business. Although Pro and online sales showed positive trends, the overall decline is likely to negatively impact investor sentiment in the short term.
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