Home Improvement Retailers Post Lower Q3 Sales and Earnings

The world’s two largest home improvement retailers published second quarter 2023 financial results.

­­­­­The Home Depot, Atlanta, GA, reported Q3 2023 net quarterly sales of $37.7 billion, down 3.0% over the comparable period in 2022. Net earnings fell 12.2% from the same three months of 2022 to $3.8 billion. See The Home Depot

The Lowe’s Companies, Mooresville, NC, announced third quarter net sales were $20.5 billion, 12.8% below the comparable timeframe in 2022. Net earnings were $1.8 billion compared to $154 million in the third quarter of 2022 which included a $2.1 billion impairment charge associated with its Canadian retail business. See Lowe’s Companies

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