Lowe’s reported a profit of $884 million in the first quarter of 2016, a 31.4 percent increase compared with the $673 million in profit during the same period in 2015, according to the company’s financials.
Sales for the first quarter totaled $15.2 billion, a 7.8 percent increase from the first quarter of 2015 figure of $14.1 billion. Comparable store sales increased 7.5 percent.
"We executed well in the quarter, growing both transaction and average ticket to achieve comparable sales growth that exceeded our expectations," said Robert Niblock, Lowe's chairman, president and CEO, in a statement. "We continued to focus on providing better omni-channel customer experiences, and saw strength in indoor as well as outdoor categories.
Read Next
