v3.26.1
Revenue
 6 Months Ended
Jul. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Net sales consists primarily of revenue, net of sales tax, associated with contracts with customers for the sale of goods and services in amounts that reflect consideration the Company is entitled to in exchange for those goods and services.

The following table presents the Company’s sources of revenue:
(In millions)Three Months EndedSix Months Ended
July 31, 2026August 1, 2025July 31, 2026August 1, 2025
Products $24,734 $22,973 $46,789 $43,141 
Services783 655 1,489 1,200 
Other439 331 756 547 
Net sales$25,956 $23,959 $49,034 $44,888 

A provision for anticipated merchandise returns is provided through a reduction of sales and cost of sales in the period that the related sales are recorded.  The merchandise return reserve is presented on a gross basis, with a separate asset and liability included in the consolidated balance sheets. The balances and classification within the consolidated balance sheets for anticipated sales returns and the associated right of return assets are as follows:
(In millions)ClassificationJuly 31,
2026		August 1,
2025		January 30,
2026
Anticipated sales returnsOther current liabilities$212 $211 $178 
Right of return assetsOther current assets129 123 109 

Deferred revenue - retail and stored-value cards
Retail deferred revenue consists of amounts received for which customers have not yet taken possession of the merchandise or for which installation has not yet been completed. The majority of revenue for goods and services is recognized in the quarter following revenue deferral. Stored-value cards deferred revenue includes outstanding stored-value cards such as gift cards and returned merchandise credits that have not yet been redeemed. Deferred revenue for retail and stored-value cards are as follows:
(In millions)July 31,
2026		August 1,
2025		January 30,
2026
Retail deferred revenue$1,162 $1,095 $936 
Stored-value cards deferred revenue447 463 541 
Deferred revenue$1,609 $1,558 $1,477 

Deferred revenue - Lowe’s protection plans
The Company defers revenues for its separately-priced long-term extended protection plan contracts (Lowe’s protection plans) and recognizes revenue on a straight-line basis over the respective contract term. Expenses for claims are recognized in cost of
sales when incurred.
(In millions)July 31,
2026		August 1,
2025		January 30,
2026
Deferred revenue - Lowe’s protection plans$1,253 $1,283 $1,262 

Three Months EndedSix Months Ended
(In millions)July 31, 2026August 1, 2025July 31, 2026August 1, 2025
Lowe’s protection plans deferred revenue recognized into sales$147 $144 $291 $287 
Lowe’s protection plans claim expenses62 61 123 119 

Disaggregation of Revenues

The following table presents the Company’s net sales disaggregated by merchandise division within our Retail Home Improvement segment, as well as Other segment net sales:
Three Months EndedSix Months Ended
July 31, 2026August 1, 2025July 31, 2026August 1, 2025
(In millions)Net Sales%Net Sales%Net Sales%Net Sales%
Hardlines1
$7,952 30.6 %$8,006 33.4 %$14,735 30.1 %$14,576 32.5 %
Home Décor2
7,817 30.1 7,782 32.5 14,991 30.6 14,877 33.1 
Building Products3
7,554 29.1 7,472 31.2 14,371 29.3 14,314 31.9 
Other692 2.7 561 2.3 1,242 2.5 983 2.2 
Retail Home Improvement24,015 92.5 23,821 99.4 45,339 92.5 44,750 99.7 
Other segment net sales1,941 7.5 138 0.6 3,695 7.5 138 0.3 
Total$25,956 100.0 %$23,959 100.0 %$49,034 100.0 %$44,888 100.0 %
Note: Merchandise division net sales for the prior period have been reclassified to conform to the current period presentation.
1    Hardlines includes the following product categories: Lawn & Garden, Power Equipment, Seasonal & Cleaning, and Tools & Hardware.
2    Home Décor includes the following product categories: Appliances, Flooring, Kitchens & Bath, and Paint.
3    Building Products includes the following product categories: Building Materials, Electrical, Lumber, Millwork, and Rough Plumbing.

The following table presents the Company’s net sales disaggregated by geographical area:
(In millions)Three Months EndedSix Months Ended
July 31, 2026August 1, 2025July 31, 2026August 1, 2025
United States$25,883 $23,959 $48,893 $44,888 
Canada73 — 141 — 
Net Sales$25,956 $23,959 $49,034 $44,888