Lowe's Sees Bigger Sales Increase Than Rival Home Depot
Lowe's (NYSE: LOW) efforts to increase sales, pump up digital, and become a serious threat to Home Depot's (NYSE: HD) hold on the top spot in home improvement are paying off in a big way as the COVID-19 pandemic sent shoppers to town in the home improvement area.
In Lowe's first quarter, which ended May 1, comps were up 11.3%, U.S. comps were up 12.3%, and net sales increased to $19.7 billion. Earnings were $1.3 billion and earnings per share were $1.76, compared with $1.31 in 2019. Home Depot's comps increased 6.4% with U.S. comps rising 7.5% during the same period.
Image source: Lowe's.
Source Fool.com
