Lowe's reported net sales for Q2 2024 were $23.6 billion, a 5.6% decline compared to $25.0 billion in the prior-year quarter.

Comparable sales for the quarter decreased 5.1% driven by continued pressure in DIY bigger ticket discretionary spending and unfavorable weather adversely impacting sales in seasonal and other outdoor categories, partially offset by positive comparable sales in Pro and online.

Net earnings were $2.4 billion for Q2 2024, an 11.1% decline compared to $2.7 in Q2 2023.

For the first half of 2024, total sales declined 4.9% to $45 billion from $47.3 billion in the first half of 2023.

Net earnings for the first half of 2024 were $4.1 billion, a 16% decline compared to earnings of $4.9 billion in the first half of the prior year.

"The company delivered strong operating performance and improved customer service despite a challenging macroeconomic backdrop, especially for the homeowner. At the same time, we continue to build momentum with our Total Home strategy reflected by our mid-single-digit positive comps with the Pro customer this quarter," said Marvin R. Ellison, Lowe's chairman, president and CEO. "As we look ahead, we are confident that we are making the right long-term investments to take share when the market recovers. I'd like to extend my appreciation to our dedicated frontline associates who remain committed to serving our customers."

Source: lowes.com