Quarterly sales at Lowe’s take a slight hit

US DIY chain Lowe's reported total sales of USD 21.4 bn (EUR 19.8 bn) for its first quarter of 2024 (ended 3 May 2024), compared to USD 22.3 billion in the prior-year quarter. Comparable sales decreased 4.1 per cent as the decline in DIY big ticket discretionary spending was partially offset by positive comparable sales in Pro and online, the company wrote in a press release.

"We are pleased with our start to spring, driven by strong execution and enhanced customer service," said Marvin R. Ellison, Lowe's chairman, president and CEO. "This quarter we rolled out our new DIY loyalty program nationally, expanded same-day delivery options and took market share in key categories. We continue to gain momentum with our Total Home strategy, reflected in our growth in Pro and online. I would like to thank our frontline associates for their hard work, commitment to customers and disciplined focus on productivity."

As of 3 May 2024, Lowe's operated 1,746 stores representing 194.9 million m² of retail selling space.