Lowe's earnings top estimates as same-store sales jump 28%, warns some DIY trends could fade

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Lowe's fourth quarter earnings top estimates as same-store sales jump 28%

Shoppers wearing protective masks wait in line to enter a Lowe's Cos. store in San Bruno, California, U.S., on Wednesday, May 20, 2020.said Wednesday that its fourth-quarter same-store sales climbed 28.1%, as consumers continued to spend money on home projects during the pandemic.Shares of the company were up less than 1% in premarket trading.

Lowe's reported fourth-quarter net income of $978 million, or $1.32 per share, up from $509 million, or 66 cents per share, a year earlier.

 

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No Covid-19 here...

RossElletWX I feel confident in saying I did in my part in this.

I’d like to know if this is attributed to more transactions or if it’s because more money was taken in per transaction. Seems that DIY supplies increased dramatically since the beginning of the pandemic.

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SLowie100 Well done mate.

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