Lowe’s (NYSE: LOW), Mooresville, N.C., a home improvement company, reported sales for fourth quarter 2023 ended Feb. 2, 2024, were $18.6 billion, a 20% decline from $22.4 billion in the prior-year period. Pro customer sales were flat for the quarter.
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Profit was $1 billion for the quarter.
Sales for the fiscal year 2023 were $86.3 billion, down 12% from $97 billion the prior year. Profit was $7.7 billion for the year.
“This quarter we delivered strong operating profit and improved customer satisfaction, despite the continued pullback in DIY spending,” commented Marvin R. Ellison, Lowe’s president and CEO. “We remain confident in the long-term strength of the home improvement market, and we are making the right investments in our Total Home strategy to take share.”
