Lowe’s Reports Q4 Results

Home improvement retailer reports fourth-quarter net loss of $824 million.

Lowe's Companies Inc. (NYSE: LOW), Mooresville, NC, reported sales of $15.6 billion for the fourth quarter ended February 1, 2019, up just slightly compared with $15.5 billion in the fourth quarter of 2017.

The home improvement retailer reported a net loss of $824 million, which included pre-tax charges of $1.6 billion, compared to net earnings of $554 million in the fourth quarter of 2017.  

Lowe’s said that comparable sales growth improved during the fourth quarter, and that U.S. home improvement comparable sales growth was up nearly 6 percent in January. Company leaders said they expect U.S. economic conditions to remain sound in 2019, but pointed to continued weakness in the Canadian housing market in the near-term.

 

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