Lowe’s Companies Inc. made $1.16 billion in the second quarter of 2016, a 3.6 percent increase from the $1.12 billion it made in the same period in 2015, according to a statement filed with the SEC.
Sales for the quarter totaled $18.26 billion, a 5.3 percent increase from the $17.34 billion in sales reported during the same period in 2015. Comparable store sales increase 2.0 percent year-over-year.
"We delivered solid results for the first half of the year, in line with our expectations," said Robert A. Niblock, Lowe's chairman, president and CEO, in a statement. He added that Lowe’s is well positioned to take advantage of a favorable home improvement market in the second half of the year.
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