Home improvement retailer Lowe’s on Wednesday posted stronger sales in its latest quarter despite a housing market that remains “pressured,” company officials said.
The North Carolina-based company reported $20.6 billion in sales in the November-January window, up from $18.6 billion in the same quarter of the previous year. Net earnings for the quarter came in at just shy of $1 billion; although that was down from $1.1 billion in its previous fiscal fourth quarter, both sales and earnings reportedly came in ahead of expectations on Wall Street.
"While the housing macro remains pressured, we are focused on directing what is within our control, which includes our ongoing productivity initiatives,” Chairman, President and CEO Marvin Ellison said in a statement. “We remain confident that we are well-positioned to take share regardless of the macro environment."
The company’s outlook for its 2026 fiscal year anticipates sales growth of 7% to 9% over the recently concluded year, although comparable sales were expected to be “flat to up 2%.”
