Jim Cramer on Lowe’s: “The Company’s Doing So Much Better Than Anybody Expected”

Lowe’s Companies, Inc. (NYSE:LOW) was among the stocks Jim Cramer discussed in this changing market. Cramer discussed the stock’s performance in light of interest rates, as he remarked:

Finally, let’s talk about the legitimate disappointments, and this is tough; it was Home Depot and Lowe’s. Now, we know interest rates have been rising, and that’s a nightmare for these home improvement chains… Now, Lowe’s has been performing better than its rival largely because it’s got more exposure to do-it-yourself consumers than professional contractors. Lowe’s had tepid same-store sales, but its total revenue jumped 10% year over year. Earnings went up 4%. Perhaps, Wall Street’s gotten used to this. The company’s doing so much better than anybody expected. And while Home Depot is always, well, Home Depot’s supposed to do badly, so it rallied because it wasn’t as horrible. So, given the macro headwinds, Lowe’s doing nothing in this environment, I’m still calling it a win.

Photo by Artem Podrez on Pexels

Lowe’s Companies, Inc. (NYSE:LOW) is a home improvement retailer that sells tools, appliances, building materials, and decor for all kinds of projects, from repairs to remodels. In addition, the company provides installation, repair, and design services.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.