U.S.: Lowe’s Q2 comp sales up

Lowe’s Cos. has released its second-quarter results with net earnings of $1.7 bn, up from $1.5 bn in the second quarter of 2018. Sales for the second quarter increased 0.5% to $21.0 bn from $20.9 bn, while comparable sales increased 2.3%. Comparable sales for the U.S. home improvement business increased 3.2%. “We capitalized on spring demand, strong holiday event execution and growth in paint and our pro business to deliver strong second quarter results,” said Lowe’s President and CEO Marvin Ellison.

 

Find out more at: www.hardlines.ca

Canada: Positive Q2 for Canadian Tire

Canadian Tire Corp. has released its second-quarter results for the period ended 29 June. Consolidated retail sales increased $53.6m or 1.3% in the period. Excluding petroleum, consolidated retail sales were up 2.3% over the same time last year.

Consolidated revenue grew by 5.9%. Excluding petroleum, it was up by 7.9% in the quarter. For the retail segment, revenue increased 5.7%. Excluding petroleum, retail segment revenue increased 7.8%. Retail sales by Canadian Tire stores increased by 2.1% and comparable sales were up 1.9% in the second quarter.

For more information visit: www.hardlines.ca