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Lowe’s
beat Wall Street’s earning expectations on Wednesday as demand for home projects picked up during the quarter.
The retailer also announced its latest effort to attract more business from home professionals. It said on Wednesday that it has struck a deal to acquire Foundation Building Materials, a distributor of drywall, insulation and other interior building products for large residential and commercial professionals, for about $8.8 billion.
Lowe’s revised its full-year outlook to reflect the acquisition of Artisan Design Group, a home professional-focused company that it acquired earlier in the year. It said in a news release that its “core business performance in fiscal 2025 remains unchanged.”
