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BREAKING:

$535B CANADA BUDGET PROJECTS $39.8B DEFICIT, AIMS TO RESTORE ECONOMIC FAIRNESS

It seeks to ease the housing and affordability crisis by making older, wealthier Canadians pay more

Lowes.com sales increased 106% in Q3

Yahoo Finance Video
Updated

Lowe’s shares were under pressure on Wednesday following mixed third-quarter results. The company reported earnings that came in just shy of analysts’ estimates, and provided a muted outlook. Revenues came in higher than expected, with U.S. comparable sales up 30.4% and online sales increasing by more than 100%.

Video Transcript

MYLES UDLAND: Let's talk about Lowe's. Yesterday we saw a big quarter out of Home Depot, and Lowe's continuing that trend and in the home improvement space.

BRIAN SOZZI: Yeah, Lowe's is another one, Myles, really. I just have never seen quarters like this in retail. Same store sales for Lowe's up 30.1%, their .com business up 106%. These are abnormal numbers. But again, really reflects consumers staying at home more, investing in their homes. And look, we just talked to PPG's CEO Michael McGary last week. They're seeing strong paint sales. So that-- that trend remains very much intact.

MYLES UDLAND: Yeah, the DIY business for both Lowe's and Home Depot continue to be strong, even as we get into the winter months, when folks don't typically embark on these kinds of projects. Though I suppose indoor painting is friendly for the winter months here in the northeast.