US Markets

EARNINGS-Lowe's misses quarterly same-store sales estimates

Credit: REUTERS/MIKE BLAKE

Lowe's Cos Inc missed quarterly same-store sales estimates on Wednesday, as the home improvement chain faced intense competition from Home Depot Inc. The company's same-store sales rose 2.2% in the third quarter.

Nov 20 (Reuters) - Lowe's Cos Inc LOW.N missed quarterly same-store sales estimates on Wednesday, as the home improvement chain faced intense competition from Home Depot Inc HD.N.

The company's same-store sales rose 2.2% in the third quarter ended Nov. 1, below expectations of a 3.1% increase, according to IBES data from Refinitiv.

However, the company raised its 2019 adjusted earnings forecast to $5.63 to $5.70 per share, from prior expectations of$5.45 to $5.65 per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223 8780; Twitter: @sampath_uday; Reuters Messaging: UdaySampath.Kumar.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest US Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More