Shoppers wearing protective masks wait in line to enter a Lowe’s Cos. store in San Bruno, California, U.S., on Wednesday, May 20, 2020.
David Paul Morris | Bloomberg | Getty Images
Lowe’s said Wednesday its fourth-quarter same-store sales climbed 28.1%, as consumers spent more on home projects during the pandemic.
That’s higher than the 22% growth that analysts expected, according to StreetAccount. Even with the strong results, Lowe’s continues to expect that sales could moderate as the pandemic eases.
The company’s shares closed down 3.72% to $162.31. As of Wednesday’s close, the company’s market value is $118.93 billion and its shares are up about 32% over the past year.
Here’s what the…