Lawn and garden paces Lowe’s in strong quarter

Lowe’s generated positive comp-store sales in all of its product categories in the second quarter. And even as it faced a strong comparison to the prior-year’s quarter, lawn and garden led the way.

Those were among the insights provided by Lowe’s executives during their second-quarter earnings report, in which the Mooresville, North Carolina-based company reported sales and earnings growth.

“Customers shopped our compelling offering of live goods as they took advantage of improved weather to spruce up their yards,” said Lowe’s CEO Robert Damron, describing the three months ended Aug. 1.

The closely related category of outdoor power equipment showed double-digit percentage growth. Damron credited the brands in play — Husqvarna, John Deere and Troy-Built — plus the launch of the company’s own Kobalt brand of battery-powered handheld outdoor power equipment. 

Continuing its momentum from the first quarter, patio and outdoor fashion products brought in double-digit positive comps, he said. The strength here offset soft sales of window-mounted air conditioners, according to the company.

Other categories of strength for Lowe’s in the second quarter were millwork, paint, tools and hardware.

During the second quarter, Lowe’s launched Valspar Reserve interior and exterior pants. Damron said it performed well, exceeding expectations for both DIY and pro customers.

Meanwhile, Lowe’s sees an opportunity to guid customers with “inspiration, design and installation” through a growing network of project specialists.

“While we already have project specialist that focus on the exterior of the home available across all U.S. stores, we continue to expand our interior project specialist program,” Damron said. “Customers have responded very positively to these programs and we are pleased with their performance.”