Reported about 10 hours ago
Lowe's has forecasted annual earnings significantly below estimates, indicating ongoing challenges in the home improvement sector due to high interest rates and declining consumer confidence. Despite a surprising rise in fourth-quarter same-store sales driven by supplies needed after recent hurricanes, the company expects flat to 1% growth in comparable sales for the full year, against analyst predictions of 1.13%. The retailer's forecast for earnings per share also falls short of expectations.
Source: YAHOO