Lowe’s Cos. on Wednesday reported better-than-expected profit in its third quarter, with more customers visiting the home improvement retailer.
What's interesting about the numbers is the underlying commentary, which suggests that more people are placing their homes and communities at a higher level of priority, being willing to invest more of their earnings in home improvement.
Wall Street Journal staffers Ezequiel Minaya and Paul Ziobro quote Lowe's ceo Robert Niblock, who cited customers as saying they are allocating more of their budgets to home improvement, while not increasing their overall spending,.
“They have a strong affiliation with their home,” Mr. Niblock said in an interview. “They feel good about spending on it.”