) reported its biggest rise in quarterly same-store sales in at least 15 years on Wednesday, as people spent more on tools and paint for do-it-yourself projects and home repairs during the coronanvirus lockdowns.
The home improvement chain also handily beat quarterly profit estimates, sending its shares up 7% premarket, a day after larger rival Home Depot Inc’s <HD.N first-quarter earnings disappointed. Online sales for Lowe’s surged 80% in the quarter, after the company limited operating hours and implemented social distancing measures at its stores to minimize the risk of the virus spreading.
Better Lowe’s than Hime Depot
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Lowe's shares soar after same-store sales surge 11.2%Lowe's shares rose more than 7% in premarket trading Wednesday after the company reported better-than-expected earnings. SRuhle Very nice SRuhle Are increased sales really a surprise here? How many 'honey do' projects finally got done because of the stay at home orders? How many DIYers thought 'why not?' while staring at the same walls for over two months? A lot of people working from home and lock down found time to work on projects when there were no places to go. Excellent work from $low employees as well!
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Lowe's stock surges after profit, sales rise well above expectationsShares of Lowe's Companies undefined jumped 6.1% in premarket trading Wednesday, after the home improvement retailer reported fiscal first-quarter profit and...
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New car registrations in Europe fall 76% in April as coronavirus lockdowns hit salesEuropean car sales fell dramatically in April as coronavirus lockdowns in the region closed car dealerships and brought a halt to manufacturing and sales, the latest industry data showed Tuesday. rip ford and bmw Outlier.
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Home Depot misses profit estimates as coronavirus costs weighHome Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic. They had their priorities straight, tbh. So they did the right thing? Wow. 👏🏻👏🏻
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