LOWE'S total sales in Q4 2021 increased by 5.1% to 21.3 billion!

Recently, many US retail companies have successively released their financial reports for the fourth quarter and the whole year of 2021. Overall, the performance growth varies, and the supply chain problems caused by the epidemic have had different degrees of impact on these companies. On February 23, LOWE'S announced its fourth quarter results for 2021, with a clear growth trend.

Data showed that LOWE'S's fourth-quarter consolidated comparable sales increased by 5.0% , with comparable sales in the U.S. market increasing by 5.1% .

According to the specific data released by LOWE'S , the company's total sales in the fourth quarter reached US$21.3 billion , a 5.0% increase in comparable sales compared to US$20.3 billion in the fourth quarter of 2020. Among comparable sales, home improvement business increased by 5.1 %, and sales to professional customers increased by 23%.

In addition, LOWE'S also distributed $265 million in year-end bonuses in the fourth quarter to recognize their hard work during the epidemic in 2021. In addition, for the eighth consecutive quarter, 100% of Lowe's stores received Winning Together quarterly profit-sharing bonuses, with an estimated total expenditure of $94 million .

Lowe's Chairman, President and CEO Marvin R. Ellison said they had another outstanding performance in 2021, gaining market share in the DIY and Pro segments through the Total Home strategy.

He also said that in 2021, their comparable sales increased by 6.9%, while operating profit margin increased by more than 170 basis points. Next, the company will continue to focus on productivity and strengthen pricing strategies , and continue to improve its long-term strength in the home improvement market and its ability to expand operating profit margins. "

Based on this good performance, the company also raised its expected performance for 2022. Lowe's expects its total sales to be between $97 billion and $99 billion in 2022 , with total sales expected to increase by about $1 billion to $1.5 billion in Week 53. Comparable sales are expected to fall by 1% to increase by 1%.

It is understood that Lowe's sales in the United States and Canada exceeded US$96 billion in fiscal year 2021. Lowe's and its related businesses operate or serve nearly 2,200 home improvement and hardware stores, with more than 300,000 employees .

According to the information released on its official website, the company's sales momentum remained strong in February this year .

Lowe's

Q4