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2024-08-20 10:38:44
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cnbc.com_2 on Nostr: Summary of Lowe's cuts full-year outlook as it expects home improvement sales to ...

Summary of Lowe's cuts full-year outlook as it expects home improvement sales to weaken
Lowe's cuts full-year outlook as it expects home improvement sales to weaken


Lowe's said customers took on fewer discretionary home projects and unfavorable weather hurt sales of outdoor and seasonal items.

https://www.cnbc.com/2024/08/20/lowes-low-q2-2024-earnings.html

Lowe's cut its full-year forecast, citing lower-than-expected DIY sales and a pressured macroeconomic environment. The company reported a 5.1% decline in comparable sales, with net income falling to $2.38 billion and earnings per share of $4.17. Lowe's expects weaker sales in the back half of the year, with customers putting off projects due to higher interest rates and economic uncertainty.
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