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This statistic highlights Lowe’s Companies’ Revenue by Region, split between US and International, reported on a quarterly basis from Q1 2017 onwards.
Lowe’s Companies, Inc. and subsidiaries is a Fortune 50 company. It is the second-largest home improvement retailer in the world. Having 208 million sq. feet of retail selling space, Lowe’s operated more than 1,970 home improvement and hardware stores as of January 29, 2021. These included 1,730 stores located across 50 states of the U.S and 240 stores operational in Canada.
|Revenue by Region||Q3 2020||Q2 2021||Q3 2021||Revenue Mix in Q3 2021|
(All figures in billions, except percentages)
The revenue in the third quarter of 2021 stood at $22.9 billion. This was a decrease of 16.9% on a quarter-on-quarter, from $27.58 billion in Q2 2021 to $22.91 billion in Q3 2021. The revenue increased to $22.91 billion in Q3 2020, marking an increase of 2.7% on a year-on-year basis, in respect to the total sales of $22.31 billion in Q3 2020. The prime reason for the increase in total sales in Q3 2021 was comparable sales growth. In Q3 2021, the company made a comparable sales increase in 11 product categories out of 15, primarily led by Electrical appliances and rough plumbing.
Due to inflation in copper, the company was able to deliver strong comparable sales of electricals as the unit price increased during this period. Customers based in the U.S faced Hurricane Ida and wildfires during the quarter resulting in an increased demand for the attachment category along with tanks water supply pumps and air filters.Geographically, 9 regions out of 15 in the U.S. were having positive comparable sales.
In Q3 2021 the U.S. contributed 93.85% to the total sales, amounting to $21.5 billion. On a year-on-year basis, the revenue witnessed an increase of 3.21%, as compared to $20.83 billion in Q3 2020. On a quarterly basis, the revenue fell by 16.21%, as compared to $25.66 billion in Q2 2021.
The Canadian operations experienced negative sales due to lower lumber sales as these businesses are heavily weighted towards lumber.
The international region contributed 6.15% share to the total sales of the company in Q3 2021, amounting to $1.41 billion. On a year-on-year basis, the revenue slightly fell by 4.08%, as compared to $1.47 billion in Q3 2020. On a quarterly basis, the revenue fell by 27%, as compared to $1.928 billion.
Lowe’s Companies, Inc was founded in the year 1952. Incorporated in North Carolina, the company has been public since 1961. The first store of Lowe’s under the name of North Wilkesboro Hardware was opened in North Wilkesboro, North Carolina in 1921 by Lucius Smith Lowe. The company has its stock listed on the New York Stock Exchange with the ticker symbol “LOW”.
It is the world’s second-largest home improvement retailer. They serve renters, homeowners, and professional customers (Pro customers). The Pro customer consists of two broad categories: repair & operations, construction trades, and maintenance. The U.S. market remains their predominant market, accounting for approximately 94% of consolidated sales.
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* Billed annually, local taxes extra.
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