Feb 27, 2024 - Economy

Learnings from earnings: Smucker, Lowe's, Cava

Illustration of a brain shaped like a dollar sign

Illustration: Natalie Peeples/Axios

Here are Nathan's takeaways from several key earnings reports:

🧑‍🍳 J.M. Smucker: The packaged food giant didn't rely as much on price increases in its most recent period. Comparable sales rose 6% — two-thirds of which came from volume increases, while only one-third came from price hikes.

🔨 Lowe's: The home improvement retailer posted a comparable sales decline of 6.2% — 2.7 points worse than rival Home Depot. The company is experiencing what it called "a slowdown in DIY demand."

🥗 Cava: The Mediterranean fast-casual chain saw increased guest traffic fuel same-store sales growth of 11.4% in Q4. Its stock soared today after the company published results a day early.

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This story was an excerpt from Axios Closer, a recap on the day's biggest business stories.

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