Reported about 2 months ago
Lowe's reported a 5.6% drop in sales to $23.59 billion for the second quarter, falling short of projections as consumers are postponing home improvement projects due to high interest rates and unfavorable weather. This marks the seventh consecutive quarter of declining sales. The company has adjusted its full-year sales forecast downward, expecting total sales between $82.7 billion and $83.2 billion, as both Lowe's and competitor Home Depot struggle with reduced consumer spending and market challenges.
Source: YAHOO