Home Improvement Retailers Report Financial Results
The world’s two largest home improvement retailers reported mixed results in the first quarter.
The Home Depot, Atlanta, GA, reported that 2017 first quarter net earnings increased 11% to $2.0 billion compared to 2016. Quarterly sales rose 4.9% to $23.9 billion over the previous year. See The Home Depot
Lowe's Companies, Inc., Mooresville, NC, announced that first quarter net earnings for the period ending May 5 fell nearly 32% from 2016 to $602 million. The loss was due to a $464 million pre-tax loss on the extinguishment of debt. Sales increased 10.7% from first quarter of 2016 to $16.9 billion. See Lowe’s