Reported 2 days ago
Lowe's posted stronger-than-expected quarterly results with revenues of $20.17 billion and adjusted earnings per share of $2.89, surpassing analysts' forecasts. However, the retailer faces ongoing challenges with negative same-store sales growth, projected at a decline of 3% to 3.5% for the year. CEO Marvin Ellison noted that affordability issues from inflation and high interest rates are impacting consumer behavior, despite some recovery from hurricane-related activities. Analysts express cautious optimism for future growth, anticipating favorable market conditions to emerge.
Source: YAHOO