Home Depot and Lowe's both reported healthy sales first quarter, as the housing recovering and remodeling growth also continued. Housing starts rose 20.2% in April, the Commerce Department, to a rate of 1.135 million. March 2015 figures were adjusted upward.
Lowe’s Companies, Inc. (NYSE: LOW) today reported net earnings of $673 million for the quarter ended May 1, 2015. Lowe's bought back $1 billion in stock; and expects sales to rise 4.5 to 5 percent for the year. First quarter sales were $14.1 billion, a $700 million increase.
Home Depot reported sales of $20.9 billion for the first quarter 2015, a 6.1 percent increase from 2014.
"We had a stronger than expected start to the year as we experienced a more normal spring and continued recovery of the U.S. housing market," said CEO Craig Menear.
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