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Lowe's Home Improvement posts huge revenue gains despite pandemic

The Mooresville-based company saw a huge surge in revenue in the second quarter of the year; gave back millions to the community.
Credit: Lowe's

CHARLOTTE, N.C. — Mooresville-based Lowe's Home Improvement posted a huge surge in revenue for the second-quarter on Wednesday.  The company saw a more than 30-percent increase in sales which outpaced expectations.  

According to a release from the company, sales for the second quarter were $27.3 billion compared to $21.0 billion in the second quarter of 2019.  Much of that boost can be attributed to home improvement projects taking place during the pandemic.  

Online sales also saw incredible gains.  The retailer posted a 135-percent increase in sales, mostly driven by the fact that buyers made purchases online due to stay-at-home orders and concerns about the coronavirus. 

In addition to the revenue gains, the company said it also invested millions of dollars into communities, including Charlotte.  Lowe's Inc., donated $460 million in support of frontline hourly associates, communities and store safety, according to a release from company headquarters.  

RELATED: Lowe's donating $1 million worth of flower baskets to mothers isolated in senior housing facilities

Lowe's also said it invested $560 million in Covid-related financial support for associates and $100 million in community pandemic relief, with a focus on minority and rural small businesses and health care workers. 

RELATED: Charlotte minority-owned businesses getting help from an unlikely source

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