Lowe’s grows in second quarter

Lowe’s the number two in the American and global DIY market, achieved the same sales growth in the second quarter (end: 1 August 2014) of the current financial year as the market leader Home Depot and increased its turnover by 5.7 per cent to USD 16.599 bn. Comparable sales for the quarter increased 4.4 per cent. In the first half of the financial year, Lowe’s achieved a turnover of USD 30.001 bn and thus a growth rate of 4.4 per cent (comparable sales 2.8 per cent). The company expects to open up a total of ten DIY stores and five hardware stores this year.