Lowe's sales down 5.5 per cent in first quarter

Lowe's, number two in the US home improvement sector, saw sales decline by 5.5 per cent in the first quarter of 2023 compared with the same period last year. The volume amounted to USD 22.347 bn (EUR 20.799 bn). Adjusted for changes in retail area, the decline was 4.3 per cent. The company cites the price decline of timber, unfavourable weather conditions and lower sales of DIY articles as the main reasons. Comparable sales in the trade and online sectors increased, according to the company.