Lowe's growth rates higher than Home Depot's

Lowe's, the US number two, increased sales by 17.3 per cent to US $ 11.9 bn (€ 9.69 bn) in the second quarter. The increase over the same period last year amounted to 6.5 per cent in like-for-like terms. Net earnings rose by 19.7 per cent to US $ 838 mio (€ 682 mio). Twenty-seven stores were added to the network for a total of 1 138. The overall retail space was increased by 13.7 per cent to 12.02 mio m². Sales for the first six months come to US $ 21.8 bn (€ 17.75 bn), which amounts to a rise of 15.9 per cent, or 5.2 per cent like-for-like. Even though Lowe's can point to higher rates of increase than the number one DIY retailer, the company still only achieves just over half of Home Depot's sales volume.