The world’s two largest home improvement retailers published first quarter 2023 financial results.
The Home Depot, Atlanta, GA, reported Q1 2023 net sales of $37.3 billion, down 4.2% over the comparable period in 2022. Net quarterly earnings fell 8.5% from the same three months of 2022 to $3.9 billion. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced first-quarter net sales were 5.5% lower than the comparable timeframe in 2022 at $22.3 billion. Net earnings decreased 3.1% from the first quarter in 2022 to $2.3 billion. See Lowe’s Companies