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

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Reuters
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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))

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