in power

On Aug. 19, Lowe’s released its financial report for Q2 of 2026, showing total sales for the of $26.0 billion, compared to $24.0 billion in the prior-year quarter. Comparable sales for the quarter increased 0.2%, driven by strong performance in Pro and home services sales, as well as a 15.7% increase in online sales, partially offset by persistent DIY macro pressures. Lowe’s reported positive comparable sales in 9 of 13 categories, including lawn and garden.

“Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending,” said Marvin R. Ellison, Lowe’s chairman, president and CEO. “While the near-term remains dynamic, our teams are executing at a high level, advancing our Total Home strategy and investing to drive growth and profitability. I would like to thank all of our frontline associates for their hard work and dedication to our customers.”

Highlights

• Online sales increased 15.7%
• CEO sees “persistent macro pressures, softer DIY discretionary spend”
• Fiscal Year 2026 Outlook Lowered
• Dewalt offerings expanded

The company is lowering its previously posted outlook for fiscal year 2026 to reflect operational results for the first half of the year as well as current demand trends. That outlook also includes tariff refunds recognized during the second quarter and excludes any potential additional tariff refunds in the second half of the year.

• Total sales of $92.0 billion (lowered from “previously $92.0 to 94.0 billion”)
• Comparable sales expected to be flat compared to prior year (lowered from “previously flat to up 2%”)

As of July 31, 2026, Lowe’s operated 1,761 stores, representing 196.0 million square feet of retail selling space.

Earnings Call Highlights

Lowe’s CEO Marvin Ellison said the retailer delivered another quarter of growth in Pro sales. “Pros continue to respond to our differentiated assortment, strong inventory position, dedicated service levels, fulfillment capabilities, and tailored digital experience,” he said.

He said that, long term, the home improvement market remains stable, but the near-term environment faces dynamic pressures from conditions such as “elevated fuel prices combined with broader economic uncertainty.” He said the “discretionary DIY demand remains under pressure,” but the company is performing well for Pro customers.

Bill Boltz, EVP, merchandising, said the retailer grew comp sales in lawn and garden and tools and hardware. “Our spring seasonal categories performed well throughout the first half of the year as customers responded to compelling value in live goods, hardscapes, and landscape products. Our attractive credit offers help support demand in outdoor power equipment as our broad assortment and key brands like John Deere, Toro, Ariens, and EGO remain key points of differentiation.”

Boltz also mentioned the merchandised expansion of Dewalt tool lineup, which he called “the number one pro preferred brand.”

NOTE: It’s increasingly clear that “Pro” means mostly home remodeling and interior work, and less about the sale of outdoor power equipment to pro users. Plus, when talking about “our strategic investments in pro,” Bill Boltz, EVP, merchandising, did not mention outdoors other than deck-building materials.