We will be taking a closer look at the relative performances of these two North American giants in our April issue but for now just the figures tell their own story.
The Lowe's Q4 result is most affected by losing US$530 million straight off the bottom line in the form of an impairment charge due to its Masters exit.
Having said that, its comparables are also somewhat weaker than Home Depot's although there again both the DIY retailers' peak seasons fared well compared to other mainstream US retailers like Target (comps +3.6%) or Walmart (comps +0.4%).
Revenue Q4 FY2015
Home Depot US$20.9b +9.5% US$88.5b +6.4%
Lowe’s US$13.2b +5.2% US$59.1b +5.1%
Net earnings Q4 FY2015
Home Depot US$1.47b +7.4% US$7.0b +10.5%
Lowe’s US$11m –97.6% US$2.5b –8%
Comparables Q4 FY2015
Home Depot +7.1% +5.6%
Lowe’s +5.2% +4.8%