Wednesday, May 24, 2017

Lowe's stock falls on earnings, sales miss

A Lowe's employee walks through the store during the grand opening of the Lowe's store in San Francisco, California.Lowe's first-quarter earnings and sales fell short of Wall Street estimates, sending shares of the home improvement retailer tumbling in premarket trade.

In the wake of a strong first quarter for rival Home Depot, which recently reported better-than-expected same-store sales fueled by strong sales of big-ticket items, expectations for Lowe's
were high.

But the results Lowe's turned in weren't as robust as hoped, given the momentum in the housing sector. Here's what Lowe's reported vs. what the Street was expecting:
. . . more

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