A long winter

Lowe’s increased its sales in the first quarter (ended 2 May 2014) of the new fiscal year by 2.4 per cent to USD13.403 bn. Growth on a comparable store area was 0.9 per cent. At the end of the quarter, the number two in the global home improvement trade operated 1 836 DIY stores in the USA, Canada and Mexico. The long winter caused the company problems in many parts of the country, adversely affecting sales of outdoor ranges. On the other hand, results for indoor ranges held up well, said president and CEO Robert A. Niblock.