Wednesday, April 7, 2010 as of 11:14 AM ET
Lowe's (NYSE:LOW) beat the Street on Monday with a 14% jump in first-quarter profits, but the home improvement-retailer slashed its full-year earnings projections, sending its shares sharply lower.
The company said it earned $527 million, or 43 cents a share, last quarter, compared with a profit of $461 million, or 34 cents a share, a year earlier. Excluding one-time items, it earned 44 cents, exceeding consensus calls from analysts for 42 cents.Sales jumped 7.9% to $13.15 billion, topping the Street's view of $13 billion. Same-store sales increased 2.6% overall and 2.7% in the U.S. Gross margins slipped to 34.7% from 35.4%.Lowe's, which is a major rival of Home Depot (NYSE:HD), said a shift in the calendar boosted its sales by $514 million, or 4.2%, and increased EPS by 5 cents. "While we capitalized on better than anticipated weather during most of the quarter, demand for seasonal products slowed toward the end," CEO Robert Niblock said in a statement.However, the earnings and sales b...
Lowe's Cos.' (LOW) fiscal fourth-quarter earnings rose 39%, more than the company expected, as sales also topped its expectations.Lowe's has benefited of late from i...
Lowe's (NYSE:LOW) ticked lower Tuesday despite reiterating its earlier fiscal 2010 sales and earnings forecast, and announcing plans to reveal strategic initiatives ...
Home improvement chain Lowe's (NYSE:LOW) reiterated its sales and profit outlook for its current fiscal 2010 fiscal year, and it said it would announce new strategie...
Lowe's Cos (NYSE:LOW) missed quarterly sales estimates as U.S. shoppers put off expensive home renovations in a weak economy, prompting the company to forecast a ful...
By Dhanya SkariachanNEW YORK (Reuters) - Lowe's Cos posted weaker-than-expected quarterly results, but kept its outlook for same-store sales growth this year, assuri...
Lowe’s (LOW) said Monday its profits grew by 9.6% during the second quarter, but the home improvement retailer’s results and forecast slightly missed Wall Street’s e...
Lowe's Cos.' (LOW) fiscal first-quarter earnings rose 14% on a calendar shift and unusually warm weather, although the home-improvement retailer hinted the weather m...
DOW JONES NEWSWIRESLowe's Cos. (LOW) promoted two veterans of the home-improvement retailer to newly created posts of chief customer officer and chief operating offi...
Lowe's Cos.'s (NYSE:LOW) earnings rose 13% in a fiscal fourth-quarter bolstered by an extra selling week, but the home-improvement retailer's earnings and revenue bo...
Lowe’s (NYSE:LOW) posted a 13% increase in its fiscal-fourth quarter profit on Monday along with a strong full-year outlook that pushed shares of the home-improvemen...
Lowe’s reported it (NYSE:LOW) will close 20 underperforming stores in the U.S., scale back on the amount of new shops it planned to open this year and lay off nearly...
Lowe’s (NYSE:LOW) suffered a 0.2% decline in second-quarter earnings amid disappointing sales growth, leading the home improvement retailer to downgrade its financia...
NEW YORK (Reuters) - Lowe's Cos Inc <LOW.N> reported weaker-than-expected sales in the second quarter as home owners put off big renovations in an anemic U.S. econom...
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