Lowe’s (NYSE:LOW) grew its profits by a stronger-than-expected 17% in the third quarter, but the home improvement retailer’s sales missed forecasts and it trimmed its full-year guidance.

The Home Depot (NYSE:HD) rival said it earned $404 million, or 29 cents a share, last quarter, compared with a profit of $344 million, or 23 cents a share, a year earlier. Analysts had called for EPS of 30 cents.

Excluding one-time items, it earned 31 cents a share, beating estimates by a penny.

Revenue inched up just $11.59 billion, trailing the Street’s view of $11.75 billion. Same-store sales were up 0.2%.

"Thanks to the dedication of our 238,000+ employees, we delivered solid results for the quarter despite the continued sluggishness of the economic recovery," CEO Robert Niblock said in a statement.

Looking ahead, Lowe’s said it sees fourth-quarter sales rising 2% to 4% and same-store sales increasing 0% to 2%.

For the full year, Lowe’s said it expects EPS of $1.37 to $1.40 on sales to climb 3% to 4%. Previously, it forecasted EPS of $1.38 to $1.45 on a 4% rise in revenue.

"Ongoing uncertainty in employment and housing continues to pressure our industry, but we are prepared to operate effectively in a slow-growth environment,” Niblock said.

Despite the sales miss and lowered guidance, shares of Lowe’s rose 0.3% to $21.75 in  Monday’s premarkets. The stock had been down 7% on the year as of Friday’s close.