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Lowe’s and Depot, a tale of the tape

A rare win for Lowe’s in the U.S. comp-store sales comparison

BY HBSDEALER Staff

In the first quarter home-improvement head-to-head, Home Depot had the larger sales, larger earnings and larger sales growth than its main rival, Lowe’s.

But something happened this week that hasn’t happened for years – Lowe’s posted a higher U.S. comp number than its Atlanta-based rival. The last time that happened was the first quarter of 2016, a narrow victory for the Mooresville, N.C. retailer.

“Our first quarter comparable sales performance is a clear indication that the consumer is healthy and our focus on retail fundamentals is gaining traction,” said Lowe’s CEO Marvin Ellison.

Home Depot, which was dealing with a 53-week calendar year in 2018, said the wet weather and lumber price deflation weighed on the business.

Here is a head-to-head tale of the tape for the two home-improvement giants:

U.S. comparable store sales
Home Depot: 3.0%
Lowe’s: 4.2%

Q1 Total sales
Home Depot: $26.4 billion
Lowe’s: $17.7 billion

Q1 Total sales growth
Home Depot: up 5.7%
Lowe’s: up 2.2%

Net earnings
Home Depot: $2.513 billion
Lowe’s: $1.046 billion

Net earnings growth
Home Depot: up 4.5%
Lowe’s: up 5.9%

Store count
Home Depot: 2,289
Lowe’s: 2,002

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