Lowes Beats Profit Views but Cuts Annual Sales Target
Lowes reported better than expected second-quarter profit and margins driven by resilient demand for home repairs. However, cautious consumer spending prompted the retailer to lower its annual sales targets.
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LOWE'S COS INC posted second-quarter profit that topped estimates on Wednesday morning, despite lowering its full-year outlook. The retailer reported EPS of $4.27 on sales of $25.96B for the period ended July 31.
