The 2020 Mid-Year Economic Update_long

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.

 

Related Posts

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.