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Sales at Lowe’s grow by 28.3 per cent, online by 106 per cent

Lowe's has invested more than USD 1.1 bnin Covid-related support for its associates, store safety and community pandemic relief through the first nine months of fiscal 2020, according to the company.

Lowe's has invested more than USD 1.1 bnin Covid-related support for its associates, store safety and community pandemic relief through the first nine months of fiscal 2020, according to the company.

Lowe's has reported net sales of USD 22.309 bn (EUR 18.800 bn) in the third quarter (ended 30 October). This equates to an increase of 28.3 per cent compared with the same period last year. Comparable sales increased 30.1 per cent, while comparable sales for the U.S. home improvement business increased 30.4 per cent.

In the words of Marvin R. Ellison, president and CEO, there was "over 15 per cent growth in all merchandising departments, over 20 per cent growth across all geographic regions and triple-digit growth online" - sales transacted at lowes.com rose by 106 per cent. For the fourth quarter also, the number 2 in U.S. and global home improvement retailing expects total and comparable sales growth of approximately 15 to 20 per cent.

|20 November 2020 | 11:56


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