Lowe’s (LOW) earnings Q2 2022


A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021.

David Paul Morris | Bloomberg | Getty Images

Lowe’s on Wednesday reported second-quarter earnings that beat analysts’ expectations as the company said improved operations offset lower-than-expected sales that were hurt by a shortened spring.

The home improvement retailer said sales to do-it-yourself customers were also hurt by lower demand for certain discretionary items, specifically in seasonal products like patio furniture and grills and some popular pandemic products such as freezers.

Transaction volume was down 6% over the quarter, but average ticket rose 6.5%…

Source cnbc.com

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