Lowes Financial Reports

Lets make another excursion into an overview of lowes. I know you expect us here at lowes coupon to always focus on do it yourself tips as well as ways to save money. And as you all know we are not affiliated with lowes companies but we must be their biggest fan. Our goal is to absolutely encourage everyone to shop at lowes home improvement and save money all at the same time – which is the goal isn’t it?
So today lets cover much of the details about lowes coupons home improvement itself. Maybe the more you learn about this fantastic company the more likely you will be to go and shop shop shop.
First the financial’s from the latest reports. To start Lowes home improvement is exactly as the name states – a home improvement store. As of this year lowes coupon home improvement has over 1,700 stores throught the United States and Canada. That totals over 193 million square feet of retail space packed full of everything you need for home improvement. Lowes home improvement serves both retail and commercial contractors but primarily they serve homeowners, renters and commercial business customers. Suprisingly many of these are do-it-yourself (DIY) customers and do-it-for-me (DIFM) customers who utilize the lowes home improvement sales programs which signifies this niche offering success. The commercial customers are made up of both contractors as well as residential contractors. What is amazing about lowes is that they actually opened over 60 stores in 2010 – after years of nationwide recession they still can open new stores.
Now let us talk the most recent performance of their stores. It may sound unbelievable but the lowes companies posted net income as up 2.7% in the first quarter. They attribute this to people spending more money on home improvement projects and buying more expensive items like grills and riding mowers. In total they earned $489 million, or 34 cents a share, up from $476 million, or 32 cents a share, a year earlier. Revenue in the period, which ended April 30, rose 4.7 percent, to $12.39 billion.
Lowes thus has posted earnings higher than expected and they beat the street expectations – you know we at lowes coupon want to congratulate lowes for their success and know that their superior service and pricing make the difference. Lowes also raised its earnings outlook for the year but the companies forecast for the full year fell short of analysts’ expectations. – ironically enough. The chief executive, reported homeowners were again taking on do it yourself major projects and buying higher end items items. He warned that the higher earnings do not mean we are in a total rebound and recovery but the numbers were encouraging.
“We’re optimistic we’ll continue to see solid sales through the balance of the year with gradual improvement in core demand, but we still view 2010 as a year of transition for our industry, and it will likely be 2011 before we see significant growth,” he said.
In a related story. Analysts reported a combination of trends and factors. Consumers are building up the need to refurcish and improve their homes . They are feeling more safe that they wuill be able to work and keep their jobs through this recession and that it was time to begin spending money on their homes Home Depot in Burbank, Calif. Lowe’s and Home Depot had better-than-expected profits. At both home depot and lowes home improvement, the largest home improvement retailers in the United States, posted better-than-expected earnings. They both maintained that they were not forced to turn to major sales as much as in 2009. They also reported that many custoemrs trended toward spening on higher end items and carpet etc.
Of the top forty United States home improvement markets, almost all posted improvements over last quarter and last year. Even California showed sales growth at stores open at new stores – this is a comon indicator of retail sector growth.
While no one expcts robust growth – this sign of consumers venturing out and purchasing is a good indicator that things at least can begin to stabilize. Both Home Depto and lowes posted good numbers and that is a transition we at lowes coupon are encouraged to see. As much as we hate to admit it – wwhats good in the economy for home depot is good for lowes.
This indicator does not mean that the home improvement stores are out of the woods but it does look like they both will survive and weather this incredible economic storm. Many people do not think of it ewxactly as it is but there is a tremendous amount of re-hab projects going on as people improve the bank REO’s for re-sale. This portion of the market is oftentimes overlooked but account for a significant niche segment that is bolstering sales – this is according to the writers here at lowes coupon. It’s not just the homeowner – its the small re-habber that is buying a lot. We have easily purchased a couple hundred thousand in the past months for these projects alone.
Of course the housing industry is still a mess but it appears homeowners still suprisingly enough want to live in nicely remodeled homes. Good for lowes, good for home depot, good for lowes coupon!