Lowe’s Trims Full-Year Guidance As Growth, Sales Remain Minimal

Lowe’s cut its full-year sales and profit guidance to match the lower end of its previous range — sales of $92 billion versus a range of $92 billion-$94 billion earlier — as sales rose to $25.96 billion in the most recent quarter against $23.96 billion a year ago, and comp sales improve just 0.2%. “Sustained growth in Pro, Online and Home Services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending,” Lowe’s chairman, president and CEO Marvin Ellison said (more).