Lowe’s reported net earnings of $1.02 billion in the fourth quarter of 2023, a 6.5% increase compared with $957 million in the same period last year. Net sales, however, declined 17.1% to $18.6 billion. The full report can be found here.
Single-family housing starts will continue to grow in 2024, economists predicted during the National Association of Home Builders International Builders Show Feb. 27. The expected growth will be spurred in part by slowing inflation. “While the Fed’s fight against inflation is building progress, the lingering inflation challenge is housing inflation,” NAHB Chief Economist Robert Dietz stated. “Shelter inflation—rent and homeownership costs—are still rising at a 5.4% rate, and for the past year, more than half of overall inflation in the economy has been shelter inflation. The only way to tame shelter inflation, and get overall inflation lower, is to build more housing.”
Cyncly, a software content solutions provider for the flooring industry, announced a donation of $10,000 to support Habitat for Humanity Las Vegas.
