Improvement in consumer spending and the overall business environment in the U.S. in the second quarter bodes well for Lowe’s.
According to Trefis, which analyzes how companies’ products impact stock prices, the domestic housing industry has regained momentum, after a slight slump in the early part of the year. Sales to professional (pro) customers should also boost sales for Lowe’s.
Comparable sales growth for the pros business, which forms around 30% of the net revenue for Lowe’s, was three times the....