Negative performance

Lowe’s, the second-largest DIY retailer in the United States, ended the third quarter with a sales increase of 1.4 per cent to US $ 11.7 bn (€ 9.3 bn). A decrease of 5.9 per cent was recorded in like-for-like terms. Net profit fell by 24.1 per cent to US $ 488 mio (€ 387 mio) over the same period. The company reveals sales for the first nine months of the financial year down by 0.9 per cent to US $ 38.2 bn (€ 30.3 bn). Like-for-like sales were 6.5 per cent down. Net profit made by the company comes to US $ 2.03 bn (€ 1.6 bn), which means it remains 15.3 per cent below last year’s result.