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We've seen a clear step-change in the business, one- to three-year comps improving
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2022 Q2
30 Aug 22
we've seen continued momentum building in these categories
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2022 Q2
30 Aug 22
underperformed a bit just due to the weather, the pull forward that we mentioned in patio and grills.
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2022 Q2
30 Aug 22
units were down low single digits
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2022 Q2
30 Aug 22
Inventory ended the quarter at $19.3 billion
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2022 Q2
30 Aug 22
As we sold through our higher cost inventory layers, product margin rate was pressured.
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2022 Q2
30 Aug 22
certain categories were still down more than expected, like patio furniture and outdoor grills
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2022 Q2
30 Aug 22
in a recessionary environment, as you look at the DIY, that tends to shift more to the repair categories versus the big ticket.
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2022 Q2
30 Aug 22
we now expect diluted earnings per share for the year to be at the top end of the range of $13.10 to $13.60
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2022 Q2
30 Aug 22
we now expect operating margin to be at the top end of our range of 12.8% to 13% for the full year.
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2022 Q2
30 Aug 22
partly offset by 30 basis points related to more favorable product mix.
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2022 Q2
30 Aug 22
we experienced 10 basis points of shrink pressure largely due to live goods damaged by unseasonable weather
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2022 Q2
30 Aug 22
Higher transportation costs, both import and domestic as well as the expansion of our supply chain network, also drove 35 basis points of pressure.
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2022 Q2
30 Aug 22
Our U.S. monthly comps were down 1.5% in May, up 0.9% in June and up 1.1% in July
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2022 Q2
30 Aug 22
Our sales were impacted by the shortened spring season, lower demand in certain DIY discretionary categories and lower-than-expected lumber prices. This was partially offset by a 13% increase in Pro customer sales. On Lowes.com, sales increased 7% in the quarter.
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2022 Q2
30 Aug 22
transactions declining 6.4%
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2022 Q2
30 Aug 22
comparable sales down 0.3%. Comparable average ticket increased 6.1%
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2022 Q2
30 Aug 22
Consumer savings are roughly $2.6 trillion higher than they were pre pandemic.
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2022 Q2
30 Aug 22
More than half of the homes in the U.S. are over 40 years old
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2022 Q2
30 Aug 22
one of our top-performing products this quarter was an EGO 56-volt self-propelled mower that retailed for over $700. This unit dramatically outperformed our sales forecast despite being one of the most expensive battery mowers in our assortment
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2022 Q2
30 Aug 22