Lowe’s Companies, Inc. (NYSE: LOW) reported sales of $20.5 billion for the quarter ended Nov. 3, 2023, with profit of $1.8 billion.
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Comparable sales were down 7.4% due to a decline in DIY discretionary spending, offset in part by positive Pro customer comp sales.
“Given our 75% DIY mix, the DIY pressure disproportionately impacted our third-quarter comp performance. At the same time, our investments in Pro continue to resonate, resulting in positive Pro comps again this quarter,” said Marvin R. Ellison, Lowe’s CEO.
