Lowe’s (LOW) Gains Market Share

Posted: May 21, 2007 at 6:15 am

Lowe’s (LOW) earnings were nothing special, but with the housing market in trouble that is not a surprise.

Revenue rose slightly in the last quarter to $12.2 billion. Net fell to $739 million from $814 million in the same quarter a year ago. Comparable store sales for the first quarter declined 6.3 percent, never a good thing.

The one stand out comment made by the company had to do with market share. The company CEO put it this way: "We continued to gain market share during the quarter despite the challenging sales environment." It would not be unfair to assume that the reference here is to Home Depot (HD). If so, that company’s share may be in for more of a rough ride.

Douglas A. McIntyre

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