(CercleFinance.com) – Lowe’s Companies announces a stable net profit of three billion dollars for the quarter ended July 29, 2022, representing EPS of 4.67 dollars, compared to 4.25 dollars a year earlier.
Total sales fell to 27.5 billion, compared to 27.6 billion in the second quarter of 2021. On a comparable basis, they fell by 0.3%, but with an increase of 0.2% for renovation activity residential in the United States.
“Do-it-yourself sales were affected by the shortening of the spring and the drop in demand in certain discretionary categories, which was partially offset by a 13% increase in sales from Pro customers”, explains the group.
For the full year, Lowe’s now expects total sales to be ‘lower end of its target range’ of 97-99 billion, and expects diluted EPS to be ‘ at the top of its range of 13.10 to 13.60 dollars.
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