- Lowe’s just posted a 34.2% jump in year over year comparable sales in its second quarter.
- Executives said on Wednesday’s earnings call that the company’s strong performance has been driven by a surge of consumers that are increasingly “focused on the home.”
- Lowe’s also saw a 135% increase in year-over-year sales on its website, which has recently been revamped.
- “We are looking forward to building on this momentum on the back half of 2020 and for years to come,” CEO Marvin Ellison said on the call.
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Consumers are continuing to flock to Lowe’s for paint, interior decor, and lighting fixtures during the coronavirus pandemic, leading to bombshell quarterly earnings results for the home improvement retailer.
The North Carolina-based company reported total sales of $27.3 billion and net profits of $2.8 billion in the second quarter. Comparable sales were up 34.2% system-wide from last