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Warmer weather doesn't put a chill on Lowe's revenue

Warmer winter temps prove lucrative for at least one retailer.

March 4, 2016

The unusually warm winter as 2015 ebbed didn’t hurt all retailers as it provided at least one with a boost in sales.

Lowe's enjoyed a bump in traffic as homeowners took advantage of the weather trend for projects often left to spring and summertime and that led to a boost in revenue that beat industry watchers' expectations.

Revenue for the fourth quarter hit $13.24 billion, a healthy increase over the $13.05 billion projected and a nice bump from the previous quarter of $12.54 billion. Earnings of 59 cents per share were exactly what Wall Street expected and a nice increase from the 46 cents per share a year prior.

Sales activity at locations over 12 months in operation jumped 5.2 percent and same-store sales increased 5.5 percent.

"We capitalized on increased demand for exterior products as a result of warmer weather, while at the same time helped customers tackle interior projects," Chairman and CEO Robert Niblock said in a statement.