Thursday, November 17, 2016

Lowe’s sales up in Q3

Sales were up in the third quarter, but Lowe’s Companies’ financial performance impressed neither its investors nor its CEO.
 
The home improvement retailer’s net income dropped dramatically, owing to $462 million non-cash pre-tax charges. Net income declined to $379 million, compared to $736 million in the same quarter last year.
 
Sales increased 9.6% to $15.7 billion, and comparable-store sales increased 2.6% in the U.S. But analysts had expected slightly higher numbers, and shares of LOW declined in early trading Wednesday.. . . more

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