Lowe’s total sales up by 2.2 per cent in Q3

Lowe’s total sales for the third quarter of 2022 amounted to USD 23.5 bn (EUR 22.65 bn), an increase of 2.2 per cent compared with USD 22.9 bn (EUR 22.07 bn) in the third quarter of 2021. Comparable sales for the U.S. home improvement business increased by 3.0 per cent for the third quarter. Sales by Lowes.com grew by 12 per cent, on top of 25 per cent growth last year, according to a company statement. The net earnings of the company totalled USD 154 mio (EUR).

“We delivered better-than-expected results this quarter, with U.S. comps up 3 per cent, driven by pro growth of 19 per cent and improved DIY sales trends,” commented Marvin R. Ellison, Lowe's chairman, president and CEO.

The company is increasing its full-year financial outlook for 2022, reflecting stronger operating results than expected. It now predicts total sales of approximately USD 97 bn to USD 98 bn, including the 53rd week.