Home improvement sales surge during coronavirus pandemic, as Lowe’s experiences major jump in in-store and online spending

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Lowe’s and Home Depot both saw a jump in sales as the coronavirus hit. Lowe’s posted a better-than-expected 11.2% rise in comparable sales in the first quarter,  Home Depot also reported higher sales, but said that coronavirus-related spending ultimately dampened its net income. Visit Business Insider’s homepage for more stories.

Shoppers have flooded retailers Lowe’s and Home Depot during the coronavirus pandemic, stocking up on both essential equipment and materials for quarantine home improvement projects. 

Lowe’s saw a 11.2% gain in comparable sales in the first quarter. The home improvement retailer saw net sales of $19.68 billion in

Read more    Source: businessinsider.com

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