Lowe's reported adjusted earnings for the three months ending on that came in at $1.33 per share, firmly ahead of Wall Street's expectations of $1.21 per share.
"Strong execution enabled us to meet broad-based demand driven by the continued consumer focus on the home, with growth over 16% in all merchandising departments, over 19% across all U.S. regions and 121% on Lowes.com," said CEO Marvin Ellison. "I would like to thank our front-line associates for their continued dedication to serving our customers and communities and supporting safety in our stores."
"I am pleased with our progress in 2020 as we generated nearly $90 billion in sales, with annual sales growth of over $17 billion, while also enhancing our operating efficiency," he added. "Looking ahead to 2021, we expect to grow market share and drive further operating margin expansion."
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