Wednesday, May 23, 2018

Amid CEO change, Lowe's blames bad weather for disappointing results

The Charlotte Observer
A day after announcing its new CEO, Mooresville-based Lowe's reported first-quarter earnings Wednesday that fell short of Wall Street expectations, thanks in part to a cold start to the spring season.

Sales for the first quarter rose to $17.4 billion, up from $16.9 billion a year ago but still short of analysts' expectations. Same-store sales, a key industry measures of sales at stores open for at least one year, rose 0.5 percent during the quarter.. . . more